Keynes and The Market

by Justyn Walsh

It shows very well the link between Keynes’s experience as an investor, speculating on the markets, and his theory. As an investor Keynes became more and more aware of the market’s uncertainty and volatility. Justyn Walsh is a hedge fund manager and he makes the good point that the people who actually work in the financial system do not believe that people generally have correct expectations about the future. The insiders know they are gambling. So, why do they do it you might ask?