[wmnwmn]

The market already doesn't allocate capital. Companies almost never issue new shares, indeed they buy them back. Given that dividends are also trifling, the market is mainly a large scale gambling scheme. Not entirely, but mainly.

[khuey]

Companies issue new shares all the time. Tech company stock buyback programs are often treading water against employee equity compensation.

[koboll]

That's why I love index funds. You're betting with the house, not against it.