A conversation between...................

 

............John Mayard Keynes and Swiss banker Felix Somary (according to Somary) in April of 1928:

Keynes asked me what I was advising clients.  'To insulate themselves as much as possible from the coming crisis, and to avoid the markets,' I replied.

Keynes took the opposite view.  'We will not have any more crashes in our time', he insisted, and asked me in detail for my opinions about individual companies.

'I think the market is very appealing and prices are low,' said Keynes.  'And where is the crash coming from in any case?'

'The crash will come from the gap between appearances and reality.  I have never seen such stormy weather gathering,' I said.

-Edward Chancellor, The Price of Time: The Real Story of Interest