Most of my stocks are in mutual funds, mostly conservative ones (S&P 500 funds, etc.) and squat quietly in my IRAs. I buy and sell maybe once a year. I rode out the downturn without selling a single share, and have not bought any new ones recently.

I follow the market, and apparently a huge number of people buy and sell stocks every time a squirrel farts, or Greenspan scratches his ear. These people must spend tens of thousands a year on commissions.

McDonald's stock went down when the mad cow business went around. Who honestly believed that two years from now the stock would still be lower because of this? Why sell on any rumor, flap, change of the moon, or whatever? Are they aware that when they buy or sell on the news they must almost certainly be selling on the down curve and buying on the up curve?

How do these people make money?

I am honestly puzzled by this. Does anyone here "play" the market? Buy and sell daily? What's the point?