The majority win on a temporary basis, when the idea behind the market brings in pools of money from the masses to inflate that asset, the pools of money interchange among themselves, and the assets get further inflated. On a temporary basis, everyone who is in that asset has registered large paper gains.
Further capital flows dry up, until a fundamental change in the idea behind the market rise overcomes the speculative fervor, and leads to a cascade of selling, where everyone tries to exit through the same door at the same time.
Then the majority end up losing, while the initial group that starts the cascade walkaway with 90% of their gains.
Further capital flows dry up, until a fundamental change in the idea behind the market rise overcomes the speculative fervor, and leads to a cascade of selling, where everyone tries to exit through the same door at the same time.
Then the majority end up losing, while the initial group that starts the cascade walkaway with 90% of their gains.
