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To: hueyone who wrote (152349)	2/2/2003 1:48:58 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 164684

give me one investment that doesn't have an element of the greater fool theory. - real estate (especially bay area) - art - GOLD (put diamonds and other metals in here) Assets are worth what people are willing to pay for them. In the case of equities you are paying for the future, which may or may not pan out. In a lot of cases it has for growth stocks for the last 30 years at least. That is the difference between buying an overpriced oracle in 1993 vs. say diamonds. It is unlikely if not impossible that diamonds will "grow" into their valuation... same for most if not all metals imo since most will be synthesized in the near future anyway.