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Good answer. But still overlooks the fact that if you buy in before the bubble peaks and sell before it bursts, you can do well. I've no idea if that means that
by corin_ 14y ago
Good answer. But still overlooks the fact that if you buy in before the bubble peaks and sell before it bursts, you can do well. I've no idea if that means that at $150 it was a reasonable gamble to take that it would go up before it comes down, or if it was a reasonable gamble at $40, or never, or... Like I said, I felt it was an unreasonable gamble when I bought at $5-$10 a while ago, and so didn't buy more than a handful.
- dragontamer 14y agoIE: the greater fool theory. http://en.wikipedia.org/wiki/Greater_fool_theory http://en.wikipedia.org/wiki/Greater_fool_theory Come on, people have been doing this stuff for centuries. It doesn't make you a genius, it makes you the lesser fool. Buying something that has little value, because you believe you can find a greater fool to dupe later is both risky and unethical.