Writes Bob Wenzel,
He was 83% long going into the downturn that resulted in the 1929 crash. So how could Keynes be a great investor with such a bad performance? Because Keynes, the evil bastard, along with Bernard Baruch, talked FDR into confiscating the gold owned by all Americans. He then loaded up his portfolio with gold mining stocks and then urged FDR to prop up the price of gold.
So John Maynard Keynes practiced the interventionist theories he preached because he personally profited from them—he was a rent seeking crony after all!
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