There is a definition of stock market as a mechanism of wealth transfer from active investors to patient/intelligent investors.
Most of the people are jumping one over the other to lose money as quickly as possible on some fantastical promise of profits. Human nature is like that. Intelligent people made money out of this sentiment since money had been invented.
> There is a definition of stock market as a mechanism of wealth transfer from active investors to patient/intelligent investors.
That's certainly not a definition. Investing is not zero-sum.
Who defines a market with that kind of cynical, silly definition? I don't think most of us want that kind of "market". And if that's the only way to make Neumann look good, then maybe the reverse is true.