Like most trends, at the beginning it's driven by fundamentals, at some point speculation takes over. What the wise man does in the beginning, the fool does in the end.
Warren BuffettWhen we went crazy, and we did go crazy on residential real estate, it set things in motion that just - the dominoes started toppling.
Warren BuffettWe can afford to lose money - even a lot of money. But we can't afford to lose reputation - even a shred of reputation.
Warren Buffett