There are enough people like this where for better or worse, keeping up with these hype trains has become a solid investment strategy. Imagine getting in early enough on BTC, or DOGE, or AMC, or GME, or NVDA, or whatever comes next instead of cynically scoffing it off (for valid reasons) on its fundamental merits. You'd be singing a different tune I'm sure after it explodes and you've cashed out leaving the zealots on whatever subreddit holding the bag.
"Solid investment strategy" implies one could make money applying this idea consistently. There's a hundred new "next big thing" ideas every year - most of them amount to nothing.
My first impression about this is that your examples lean a lot on survivor bias.
However, with deep enough pockets, you can indeed invest in a thousand hyped things, avoid the worst ones, and see if one or two of these sucker magnets is a moonshot.
And suddenly we're describing traditional venture capitalism. To get rich, you just need to start by being rich!
I don't know, if you get out early enough and only invest a portion of your previous winnings into the next cycle, it only has to work long enough for you to build a decent nest egg. But I suppose the average cycle chaser doesn't think like that...
You can replace greater fool theory with any sort of investment strategy and your sentence is still very valid. The key is to just not over leverage yourself where you will get burned with one strategy. Never invest with money you can't afford to lose.
Exactly. Also for that half dozen successes listed before, there could have been thousands of options available at the time that only look silly in retrospect.
