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.

The boom/bust cycle. As they say, the hardest part of the market is timing.

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.