FYI: John Maynard Keynes is quoted from 1936’s “The General Theory” to describe herd mentality of professional money managers. Keynes, the father of Keynesian Economics writes,
It is the long-term investor, he who most promotes the public interest, who will in practice come in for most criticism, wherever investment funds are managed by committees or boards or banks. For it is in the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion. If he is successful, that will only confirm the general belief in his rashness; and if in the short-run he is unsuccessful, which is very likely, he will not receive much mercy.
Regards,
Ted
https://therealwealthfarmer.com/2018/10/07/herd-mentality-wheres-the-beef/
