The Greater Fool is a patsy for the rest of us – Quote of The Week

Sloan Sabbith in The Newsroom“The Greater Fool is … a patsy. For the rest of us to profit, we need a greater fool, someone who will buy long and sell short. Most people spend their lives trying not to be the greater fool; we toss in the hot potato, we dive for his seat when the music stops. The greater fool is someone with the perfect blend of self-delusion and ego to think that he can succeed where others have failed. This whole country was made by greater fools.”   — Sloan Sabbith (Olivia Munn), The Newsroom

The above quote comes from the final episode of “The Newsroom“. The Newsroom is a HBO Tv Series written by Aaron Sorkin staring Jeff Daniels as A news anchor has found a safe niche with his cable show, “News Night”, but his life is stirred up when he is forced to work with a new team of colleagues. Personally i like the quote/speech so i decided to share it with you. I hope you liked it.   

The Greater Fool Theory 

The greater fool theory (also called survivor investing) is the belief held by one who makes a questionable investment, with the assumption that they will be able to sell it later to “a greater fool”; in other words, buying something not because you believe that it is worth the price, but rather because you believe that you will be able to sell it to someone else at an even higher price.

It is similar in concept to the Keynesian beauty contest principle of stock investing. - read more

The Newsroom season 1 finale 1×10 – “This whole country was made by greater fools.”

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