Wikipedia Entry of the Day

The Greater Fool Theory. It seems as though for most of my post-college life, this theory predominated the markets and explains why we got in this giant speculative bubble.

Interestingly, Modern Art is a super example of the competing forces between Contrarian Investing and Greater Fool Investing. I would guess the outcome of Modern Art games are split roughly 45/45 between players adhering to one theory or the other and about a 10% split to weird, anomaly winners who essentially win on accident by the game ending at a fortunate moment.