On the "greater fool" strategy and common knowledge. More on this in my new book: When Everyone Knows That Everyone Knows . . . Common Knowledge and the Mysteries of Money, Power, and Everyday Life: https://bit.ly/3FgucEQ "In ordinary investing, you buy a share of a company because the company sells something at a profit, and you hope to take a share of that profit. In speculative investing, you buy it not because of the profit of the company, but because you hope that you can unload the shares
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