Rob Arnott on the Greater Fool Theory

People buying bubble assets will make money until they don't.  If they don't have a view of what will it take for me to say, "OK, enough already, I'm going to get out," then they are doomed to ride the roller coaster over the top and down.  So without a sell discipline, buying bubble assets is insanely stupid.

~ Rob Arnott, Research Affiliates co-founder, Bloomberg's What Goes Up podcast, July 27, 2020