The Greater Fool Theory wrote:...the price of an object is determined not by its intrinsic value, but rather by the often irrational beliefs and expectations of market participants.
A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price.
Or one may rationally have the expectation that the item can be resold to a "greater fool" later.
..most make a questionable investment, with the assumption that they will be able to sell it later to "a greater fool"; in other words, buying something not because you believe that it is worth the price, but rather because you believe that you will be able to sell it to someone else at an even higher price..
...with foreigners selling...having bought in hardly 3 months ago..you can guess who the greater fool is.
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version