wealth is not zero sum. wealth is created and destroyed by the actions of individual and group economic activity all the time. so the popular refrain that "value was not really destroyed, it just relocated into the pockets of a few saavy guys." is not true. the market rewards correctly predicting trends in future valuation. that valuation fluctuates due to psychology as well as fundamentals means that the game will contain elements of deception, but that doesn't alter the underlying economics.
