“Greater fool” is more a fraud on yourself. You’re betting it’s ok to buy junk because there’s going to be someone who will pay even more for junk. But such investors delude themselves about the risk of being the last fool willing to buy.
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Well, it's not a fraud on yourself if you're on the ground floor, that is. Then you're just a fraudster. Everyone talks about the "last" investors when really we should blame the first investors since they're the ones perpetuating and profiting from it.
aug 23, 2025, 7:00 pm • 1 0 • view