Comment by Ekaros
10 hours ago
The market has been heavily engineered and gamed to be positive sum. But sometimes I wonder could it turn out to be negative sum on certain timescales. That is that overall money would be lost on markets.
10 hours ago
The market has been heavily engineered and gamed to be positive sum. But sometimes I wonder could it turn out to be negative sum on certain timescales. That is that overall money would be lost on markets.
It can certainly be negative sum for a generation at a time, say 20 years. The US stock market has the good fortune of not doing that in a long time but if you look around the world for example Japan these periods are not hard to find.
This is more or less what Ray Dalio was getting at with The Changing World Order, IMO.