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Is the stock market a zero-sum game?

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No. It's not completely zero sum. More like negative for those who lose. Government & broker make money without much of th risk.
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Stock market Trainer (TRADING AND INVESTMENT)

Stock market is not a zero sum game. For example Ramesh buy 100 share of xyz company @Rs. 50 total rs. 5000/- but he pays 5000+brokrage+STT+GST+Exchange Charges+sebi charges etc. Now the paerson who sold to Ramesh Get Rs. 5000 - Brokrage+STT+GST+Exchange charges+sebi charges Etc.
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Years of trading, countless lessons learned, and still a student of the market.

Yes it is a zero sum game. Because whatever you earn, somebody lost that mone on the other side. vice versa for losses.
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