Greater Fool Theory Quotes

“The bubble logic driving tulipomania has since acquired a name: “the greater fool theory.” Although by any conventional measure it is folly to pay thousands for a tulip bulb (or for that matter an Internet stock), as long as there is an even greater fool out there willing to pay even more, doing so is the most logical thing in the world.”
― Michael Pollan, The Botany of Desire: A Plant's-Eye View of the World

“Intrinsic Value Calculations for Stocks are only for a selected few. It is boring, mundane hard work.
For everyone else who wants to make money, there is the 'Greater Fool Theory', and it also works remarkably well in the real world.
You may not believe it, but there always exists a bigger or greater fool willing to pay a higher price.”
― Manoj Arora, The Autobiography Of A Stock