Greater Fool Theory: Financial and Political Markets
Financial expectations have become over-inflated and can suffer a profound deflation. Exhausted, the Left could lose its fever which would favor the Republicans on the November 3rd election
By Bob Hoye —— Bio and Archives--September 8, 2020
American Politics, News | Comments | Back To Full Article
Along-standing observation in wild stock markets is the “Greater Fool Theory”, which is a practical explanation of compulsively buying a soaring market. At excessive valuations, buying the hot stock today assumes that another fool will bid it higher tomorrow. And beyond. Such recklessness typically marks the buying climax that completes a bull market.
Intense political action also seems to be reaching a mania. This and the consequent reversals have happened before.
Of course, in retrospect the buying frenzy can be widely seen as foolishness. Chagrin, dismay and sometimes insolvency follows. Like clockwork. Welcome to CFP’s Comment Section!
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