Many popular stocks (all stocks without dividends or buybacks) are like a Ponzi scheme in that all of the money used to pay early investors (through sale of the

Many popular stocks (all stocks without dividends or buybacks) are like a Ponzi scheme in that all of the money used to pay early investors (through sale of the security) comes from later investors (buying into the security). However, they are different from a Ponzi scheme in that there is a real business behind them, and no deception/fraud.