Who is the stock market patsy?


n. pl. pat·sies Slang

A person easily taken advantage of, cheated, blamed, or ridiculed.

[Perhaps from Italian pazzo, fool, from Old Italian paccio.]

Warren Buffet, .the world’s most famous investor once said that "if you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy." 

While stock market is vast enough to have multiple patsies, the following applies to the largest and most duped group of patsies:

1. The accumulating wealth, the patsies buy stock at any price. The patsies are doing the buying at stock market peak.

2. When converting wealth to cash, the patsies are willing the sell at any price. The patsies are selling at the stock market bottom.

3. For patsies, there is no difference between stocks. The patsies simply want to buy many different kinds of stocks.

4. The patsies thing they are acting smart and rationally as Wall Street and main stream media tells them to act this way.

So who are the patsy investors? Answer: “Index investors” who dollar cost average.