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"On the Jewish Question"

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Factor 4: Speculation Fatigue After years of "everything goes up," many investors are exiting: The Shift: Early speculators taking profits and leaving market New entrants burned by recent losses becoming cautious FOMO-driven buying replaced by patient evaluation Smaller, more rational buyer base remains Fundamentals (rarity, condition, character demand) matter again Outcome: Market transitioning from speculative bubble to mature, fundamentals-based pricing where true value determines price rather than temporary hype