i was thinking about this and was wondering if you guys had any experience that could lend insight. playing stocks is a zero sum game. but if i buy at 100 and sell at 90 i lose 10. then the next guy has bought at 90 and sells at 80 so he loses 10. but if i short at 100 and cover at 90 i make ten, and so on. what percentage of all this losing, 60%, over the past 16 months is losing and what percent is losing for one but gaining for another?? and if it is all losses, then where does the money go?? a guess this might be an economics question more than a trading question. any help?