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1.
To agree or ignore an argument with someone that is mentally inferior to you with the knowledge that anyone else in the conversation will understand the Bobo Theory and not think you conceded the argument.
"Yes, you are right, I totally agree."
by Websters Dictionary March 20, 2003
 
2.
Named after the "famed" loser of many arguments, Matthew "Bobo" Gearhart. To execute the Bobo Theory is to give the impression of a concession in an unwinnable argument, thereby saving yourself the valuable time that continued arguing would have wasted. The person executing the Bobo Theory successfully tends to be the winner, no matter what the true outcome of the useles argument would have been.
"Sure, I like that thing you said that time about that stuff and that place. Good work."
by Bonehead March 20, 2003