There is a lot of truth in this. The more expensive knife, the more likely it is to be lost. On the other hand, my brother asked to borrow my knife when he was helping me roof my house. After about 15 minutes of him cutting shingles with my Benchmade, I realized what he was doing and gave him a razor knife.
I like Gerber knives as well, as they are fairly inexpensive, and so far it has held up well. Easy to sharpen and hold a pretty good edge.