i'll start with kostolany, who described his theory as follows:

„the ups and downs of the stock market depend on a single thing: whether there are more fools than papers or more papers than fools. everything depends on supply and demand and this whole stock market theory is built on it.“

i will end the chapter with the kostolany egg and a transition to the topics of money supply and mass psychology. but more on that in the next few days. stay tuned 🤙