It doesn't explain which horse wins in the 4th race at Churchill Downs, either. Major financial markets do attract scams and gambling-like behavior the same way

It doesn't explain which horse wins in the 4th race at Churchill Downs, either. Major financial markets do attract scams and gambling-like behavior the same way picnics attract flies. The reputable exchanges work to shut that a lot of that out, of course, because it's bad business. Tesla unfortunately undermines your argument. Has it been hyped to the moon? Definitely. Is there a good chance people will lose a lot of money on it? That too. But they make actual cars that get actual people actual places. That is the kind of actual value creation that underlies most stocks.