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g with what you own may be enough — although it may not be easy in tough times. • In my memo on liquidity in March, I borrowed an idea from my son Andrew: If you look longingly at the chart for a stock that has risen for twenty years, think about how many days there were when you would've had to talk
cond-level thinkers double-think (and triple-think) every angle of every situation. A good example can be seen in the hypothetical newspaper contest John Maynard Keynes wrote about in 1936. Readers would be shown 100 photos and asked to choose the six prettiest girls, with prizes going to the readers who chose the
nest minds in the world for three centuries until Andrew Wiles published the solution in 1995. Philosophy
t holds still. But nothing in the equation says it will. It says that less consumption means either more growth or less output. It doesn’t say which. John Maynard Keynes, probably the most famous and influential economist of the 20" century, put this fact of math a special way in his General Theory of 1936. In his ana
s (Bluejacket Press, 1984) 179 36 The IED threat: Andrew Smith, “Improvised Explosive Devices in Iraq, 200
country tuned exactly to the needs of her age. Three times over. Inevitably, the world now asks: Can this continue? 46 Eventually the entire world: John Maynard Keynes, The Economic Consequences of the Peace in The Essential Keynes (Boston: Penguin Classics, 2015) 47 It was possible: Herman Kahn, On Thermonuclear W
Entities connected to both Prince Andrew and John Maynard Keynes

Marc Rich
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Virginia Giuffre
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Prince Charles
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Harvey Weinstein
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Philadelphia
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Vietnam
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Paul Volcker
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Warren Buffett
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William Shakespeare
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Pearl Harbor
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Amherst
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Keynes
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Karl Marx
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John Stuart Mill’s
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