> stocks are only worth something now because future rubes will buy them for more later
Stocks are valuable because they are a claim on the assets and future profits of a company, as well as a claim on the ownership and control of the company.
Some people buy stocks just in the hope that a Greater Fool will buy them for more money later, but that's not the same thing as calling stocks in general a "ponzi scheme".
Stocks are valuable because they are a claim on the assets and future profits of a company, as well as a claim on the ownership and control of the company.
Some people buy stocks just in the hope that a Greater Fool will buy them for more money later, but that's not the same thing as calling stocks in general a "ponzi scheme".