In his speech 'Acres of Diamonds', Russell Conwell shares the story of Ali Hafed, a Persian farmer who, in his quest for wealth, sells his farm and searches for diamonds, only to find that he had been sitting on a rich diamond mine all along. Conwell uses this story to illustrate the idea that vast opportunities often exist in our own backyards, and he provides multiple examples of individuals who abandoned their fortunes in pursuit of something seemingly better. The overarching moral emphasizes the importance of recognizing and utilizing the resources and opportunities available to us at home.