Posted by on Apr 2, 2018 in Articles & Advice, Blog, Columns, Featured |

Image Credit: John Maynard Keynes’s admission ticket to the auction of the Edgar Degas estate (Paris, 1918), King’s College Archive, University of Cambridge, the Keynes Papers, PP/70/9, Jason Zweig photo, reproduced by kind permission of the Provost and Scholars, King’s College, Cambridge

 

By Jason Zweig | March 30, 2018 1:49 pm ET

 

A hundred years ago this week, the most influential economist of the 20th century began assembling what became one of the best collections of modern art then in private hands.

Every investor hoping to diversify a conventional portfolio with nontraditional assets can learn from the collecting career of John Maynard Keynes (1883-1946).

Wealthy investors often say they keep about a tenth of their net worth in art, antiques, fine wines and other collectibles. Research has suggested that the returns on such assets may beat cash, bonds and even gold over the long term, although the costs of trading — and holding — them can significantly reduce net results….

 

To read the rest of the column: 

The Wall Street Journalhttps://blogs.wsj.com/moneybeat/2018/03/30/what-it-takes-to-build-a-100-million-art-collection/

 

 

 

For further reading:

Books:

Jason Zweig, Your Money and Your Brain

Jason Zweig, The Devil’s Financial Dictionary

Benjamin Graham, The Intelligent Investor

 

 

 

Articles:

Keynes the Investor, in His Own Words

John Maynard Keynes: Courage Is the Key to Investing

Keys to Thinking About Keynes

Keynes: One Mean Money Manager

Keynes: He Didn’t Say Half of What He Said. Or Did He?

A Portrait of the Investing Columnist as a (Very) Young Man

Amazon’s 49,000% Gain: The Most ‘Super’ of ‘Superstocks’ Since 1926

So You Want To Be a Crowdfunder: Brace for High Fees and Tough Exits

 

For further reading:

David Chambers, Elroy Dimson and Christophe Spaenjers, “Art as an Asset: Evidence from Keynes the Collector

Elroy Dimson and Christophe Spaenjers, “Investing in Emotional Assets

Ann Dumas et al., The Private Collection of Edgar Degas (New York: Metropolitan Museum of Art, 1997), freely downloadable PDF