by Simon Rich · 24 May 2010 · 215pp · 52,743 words
.” Elliot slammed the phone down and stared at me. “If you think this is about something as petty as class president, you’re an even greater fool than I imagined! This is just a stepping stone—a stepping stone to a stepping stone to a stepping stone to a—” He stopped suddenly
by Jason Kelly · 10 Sep 2012 · 274pp · 81,008 words
going to be left holding on to something that’s not worth as much as they thought. There’s a fear that there’s a greater fool theory at work here. “You either have a superior insight, specialization, an angle that helps you pay a little more than the others, or you
by Andy Kessler · 4 Jun 2007 · 323pp · 92,135 words
personal income and consumer credit until it flashes bullish.” “Jobless claims lead interest rates, which lead consumer cylicals. ’Nuff said.” “It all works on the Greater Fool theory.” The most honest: “We’re indexed.” One guy, Jim Burkhardt from Chicago, gave me the best line: “Yeah, sure, I check all the stats
by Bethany McLean · 10 Sep 2018
, when internet companies were valued on the number of eyeballs. The attitude is invest-and-flip, not buy-and-hold. “I view it as a greater fool business model,” one private equity executive tells me. “But it’s one that has worked for a long time.” In the summer of 2017, finger
by Matthew Yglesias · 6 Mar 2012 · 58pp · 18,747 words
failure to appreciate the extent to which we’re building bigger homes. So how do people make money in real estate? Sometimes it’s the “greater fool” theory. Your investment doesn’t need to make sense if you can hand it off to some other sucker. But the main reason it’s
by Rob Copeland · 7 Nov 2023 · 412pp · 122,655 words
from China, would continue to bid asset prices up and keep the market humming. He was riffing on a Wall Street adage, that there were greater fools out there, ever willing to buy someone out at a higher price. The interviewer asked, “Do you see any risk of a U.S. recession
by Anna Crowley Redding · 1 Jul 2019 · 190pp · 46,977 words
or not somebody knew what the Internet was, they knew that you could make money on the Internet somehow, even if it’s on the greater fool theory,”52 Elon explained. THROWBACK! Netscape launched its Navigator web browser in December 1994, and it quickly became the preferred way to surf the web
by Atif Mian and Amir Sufi · 11 May 2014 · 249pp · 66,383 words
can only exist if the buyers are “optimists” (a gentle word for those with “irrational exuberance”) or if the buyers believe there will be a “greater fool” to buy the asset in the future when prices are even higher.7 We can now start to build a theory of how debt stokes
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those who are convinced that asset prices will continue to rise. By enhancing optimists’ buying power in the future, debt increases the probability that a greater fool will indeed be waiting tomorrow.8 Imagine a world with 100 identical houses for sale. Two types of people populate this world: optimists and pessimists
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relaxation in access to debt means that more optimists can enter today and in the future. This bolsters the belief that there will be a greater fool who will buy the asset at even higher prices. And the party gets even bigger. The expectation of a bubble growing even more entices speculators
by David Gerard · 23 Jul 2017 · 309pp · 54,839 words
: Popular buzz; media coverage. The public see these first investors and buy because others are buying, with the implicit assumption that there will always be Greater Fools to sell it on to. This is what makes a bubble: investing to sell to other investors. Someone will say that the old rules don
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’t apply any more. Blowoff phase: The old rules turn out to still apply. The bubble runs out of Greater Fools; prices collapse. The asset need not be a commodity, e.g., the Beanie Baby craze of the late 1990s, in which the asset was various
by Johnjoe McFadden · 27 Sep 2021
expect anything certain from astronomy, which cannot furnish it, lest he accept as truth ideas conceived for another purpose, and depart from this study a greater fool than when he entered it. Farewell.’ A copy of the first print run of the book was rushed to Canon Copernicus’s bedside. He died
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