I understand that at a lofty, ethical plane, it's a reflection of value, of growth and progress and confidence in all of that.
But in practice, it's not even gambling. It's humanity's hope bastardised by HFT and recurring insider trading. It's confidence for all the wrong reasons, institutional HODL.
It's a mugs' game.
Over the long term it’s the investment class most likely to grow capital.
Occasionally there are long periods where returns are low (or even negative), but in terms of risk it’s the least risky place to put your money compared to all the alternatives (if properly diversified).
(Not financial advice, just my rule-of-thumb understanding)
This is a very US-centric viewpoint, my recollection is that the FTSE didn't beat inflation for like a 20 year period.
That being said, index funds focused on equity are definitely a good way of getting reasonable returns over time (as long as you don't retire into a massive crash).