Re: How is the stock market NOT zero-sum?
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The TRADING of stocks is zero-sum, but we're missing the point here.
The true value of the market grows over time because corporations profit. Trading is just the process of splitting up those profits.
[/ QUOTE ]But this will happen regardless of how the game is played.
In other words, this would imply the stock market IS a fixed sum game, but the sum is fixed to some value unknown in the present.
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Perhaps its ok to say that TRADING stocks is a zero-sum activity surrounding the non-zero-sum activity of HOLDING stocks?
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