"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as self-evident."
The stock market is similar to a Ponzi scheme because it is a system where the current investors' profits are dependent on the inflow of cash from new investors. The myth is, profits from stocks come from the earnings and growth of the underlying company. The reality is, profits from buying and selling stocks come from other investors who are buying and selling stocks. When one investor buys low and sells high, another investor is also buying high and needs to sell for even higher.
The truth really is just that simple. But, some of you might be thinking, "But stocks are ownership instruments, some stocks pay dividends, some companies buy back shares, people have made money, etc."
I'm familiar with those ideas because I used to work in finance and defended the legitimacy of the stock market with those same textbook responses. But then, I thought about it for many years at very deep levels--researched the history of stocks, studied S.E.C. filings--and realized that there is a massive difference between the textbook ideas from school and what actually happens in practice. People also have a tendency to rationalize and ignore the obvious when it goes against what they want to believe.
The outcome of the years of meditation is this short book that explains the simple truth about how stocks really work. It doesn't matter if you love stocks or hate them. You should know the truth about where your money goes the moment you buy a stock. You can read this book to be a better gambler or read it to avoid the world's biggest scam. You will learn something unique here that you will not find elsewhere, and you will never forget what you learn.
True ideas will never disappear. It can be covered, and we can get distracted, but the truth never goes away and becomes self-evident over time. This is not a story that will disappear after another market crash. It is an idea that will remain relevant for as long as the stock market exists.