I think that’s the greater fool theory. Very good theory to explain bubbles. Q: Why is that share of an Internet perfume store stock worth $20? A: Because someone will pay $21 for it!
i guess u can say the same for monet or picasso paintings
Joey said: > Well-meaning people will get fooled by them and greedy people will almost always get fooled by them. > People hear what they want to hear and believe what they want to believe and con-men will always take advantage of that. This is as short sighted a statement as you can ever hear. This guy is a former Nasdaq chief. His company is well known throughout the industry, all kinds of funds and governments invest with him, and you think this is just a normal, human kind thing? This is about the system, not the guy. C’mon, wise up.
Thanks june07_guy - You know how much I respect your opinions
I’m so distraught, I’m out about $100M… : (
JoeyDVivre Wrote: ------------------------------------------------------- > Thanks june07_guy - You know how much I respect > your opinions yes, we know, we know
equity_analyst Wrote: ------------------------------------------------------- > I’m so distraught, I’m out about $100M… : ( You’re lucky, that’s half of what I lost.
From what I understand it was very popular in the Jewish circle which is all based on TRUST, so many investors didnt take the time to do their Due Dilligence as they were told by their friends/family that he is a man who can be trusted…too bad trust is often broken. Don’t know how true it is though…