...entities called "market makers" manipulated the market and made sure that they and their cronies made the lion's share of profits. The market is just different today. It is no better or worse than it has ever been. It is still possible for individual investors to make good money in the market but must educate themselves first. Most retail investors who lose money in the market buy when it is obvious the equity or market is topping, all the smart money has gotten out, and they think they can make a "quick buck." That has always been true and still is. A knowledgeable investor, using relatively inexpensive tools, can make >20% yr/yr, almost regardless of market conditions. Most people will not take the time to educate themselves and avoid emotional responses.