[brc]

I agree in a way - while it's unfortunate to those involved, there is an efficiency at work when capital is moved from those with no idea to those with some idea. Obviously the less idea someone has, the faster the capital departs them (a fool and his money are one big party).

However, I think the problem here is one of time horizons - many people invest in companies expecting them to be longer-term sustainable entities rather than harvest-the-craze entities. But as long as that's a function of lack of investor chops rather than market disinformation, ultimately it's a good thing.