New research by two academics at Cambridge Judge Business School shows how even the brilliant economist John Maynard Keynes couldn't successfully time the market. Keynes looked after the investments of a number of organisations - principally King's College, Cambridge. The general perception is that Keynes' investment career was an uninterrupted success. However, as Dr David Chambers and Professor Elroy Dimson discovered, Keynes was heavily exposed to equities when markets collapsed in 1929. It was largely that experience which made him realise the futility of trying to time the ups and downs of the market.