> 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.
That's certainly not a definition. Investing is not zero-sum.
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.