Try to be punctual in all your dealings. You will find it difficult to get along with some men, deal as little as possible with such… Save your credit, for that is better than money. If you go into business, be content with moderate gains. Don't be too hasty to get too rich…

Thus, Keynes, like most of us, lost big money during the 1929 crash and subsequent bear market.But surprisingly he didn't see this as a weakness.He took a positive attitude about bear markets:

"I feel no shame at being found still owning a share when the bottom of the market comes... I would go much further than that. I should say that it is from time to time the duty of a serious investor to accept the depreciation of his holdings with equanimity and without reproaching himself. Any other policy is anti-social, destructive of confidence and incompatible with the working of the economic system. An investor...should be aiming primarily at long-period results, and should be solely judged by these."