What is the greater fool theory?

The bigger fool theory means that in the capital market, people don't care about the real price of this thing at all, and they are only willing to pay a higher price because they expect more fools.

Will pay a higher price to buy from them, in other words, it doesn't matter whether you are stupid or not, as long as you are not the last one.

This kind of gameplay is not uncommon, especially in newly opened markets, commodity futures collectibles bitcoin and so on. Most participants don't believe that high prices will last, they just believe that they are smart enough and lucky enough.

Run before the bubble bursts, so you need to be able to play with real fools in the market and really believe that these products are worth the money, otherwise the bubble will be difficult to blow up.

If people who participate rationally want to make a profit, they must fully study and perceive the psychology of the market public and control their personal mentality. For those who believe in value investment, there are many fighters in the market, but they are friendly, because they will be too expensive and give you a chance to realize high investment prices from time to time.

Then some people worry that prices will always be pushed up, and what if value investment has no chance to enter the market?

This is impossible, because bubbles always burst. As long as there is trouble, it will run faster than anyone else, and the resulting panic will keep the price at a very low level and have a good chance to enter.