if someone invests serious money in the stock market and doesn't understand the strategy behind it, they deserve the bad things that happen to them
you are basically saying that if someone reads half the rules of a club then gets kicked out for not following the other half, they have grounds to complain -- and that the club should then change its rules based on how those people think
you are right about people. most are too stupid to invest in the stock market/trade, but do anyway. you are not right about what that means for the rest of us, or for people building models based on rational behavior. if we build our models based on irrational behavior, we may as well stop building models.
i take back my previous comment. you do know what you are talking about. i misunderstood one of the sentences you wrote earlier.