I just read a post at Funiveristy entitled "Nova’s Laws Of Money: Money Is A Thought". It's about the fact that money is just an idea.
How can somebody pay $50,000 or $100,000 or $250,000 or even more for a Patek Philippe watch while you can get a good value watch for $100 or $200? Because the company behind the Patek Philippe watches instilled this thought into some people in the world, to whom money is just an idea, that that is what they are worth.
It reminds me of people who think that there are 'safe' stocks. Like my man Jesse Livermore once said "they're all worthless!" Any stock's/company's valuation is just based on perception (illusion?). If the 'safest' company you can think of suddenly had an earnings scandal the stock will be crushed instantly.
As William O'Neil said, "Today's blue chip is tomorrow's cow chip."
LMAO... I hadn't heard that one before.