Retrospectives: John Maynard Keynes, Investment Innovator

John Maynard Keynes made a major contribution to the development of professional investment management. Based on detailed archival research at King's College, Cambridge, we describe Keynes' investment philosophy, his investment performance, and the evolution of his investment approach as t...

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Veröffentlicht in:	The Journal of economic perspectives 2013-07, Vol.27 (3), p.213-228
Hauptverfasser:	Chambers, David, Dimson, Elroy
Format:	Artikel
Sprache:	eng
Schlagworte:	19th century Archives & records Business schools Colleges & universities Common stock Decision making Dividends Economic performance Education systems Endowment Endowments Equity Expenditures Features Financial investments Financial portfolios Futures market Government securities Institutional investments Investment decision Investment policy Investment portfolios Investment strategies Investors Keynes, John Maynard Macroeconomics Philosophy Portfolio analysis Portfolio management Risk premiums Securities markets Small business Stock exchanges Stocks Studies Trust funds Value stocks Yield
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Beschreibung
Zusammenfassung:	John Maynard Keynes made a major contribution to the development of professional investment management. Based on detailed archival research at King's College, Cambridge, we describe Keynes' investment philosophy, his investment performance, and the evolution of his investment approach as the manager of a large educational endowment. His portfolios were actively managed and unconventional. He was an investment innovator both in making a substantial allocation to the then new institutional asset class of common stocks as well as in championing value investing. [PUBLICATION ABSTRACT]
ISSN:	0895-3309 1944-7965
DOI:	10.1257/jep.27.3.213