《金融英语》教学课件Unit 6Financial Investment.ppt

Text : The idea described above has been called the greater-fool theory. It implies that although one may be a fool for buying an asset that is overpriced, one can profit if there are still greater fools who will pay even more for it. The idea is an example of the model of contingent behavior. In contingent behavior, peoples actions are based on the way they expect others to act. To the extent that people act in this way and that greater-fool speculating influences prices in financial markets, financial markets can serve as a source of economic disturbances rather than as mere tra