Borrow to Buy Stock? Are You Nuts???

I read in the financial press that investors are borrowing to buy stock - hoping for a quick profit, no doubt - then are forced to sell, often at a loss, when margin calls force them to liquidate which may account in part for the roller coaster ride the stock market has been on of late. 

Are they nuts???  Borrow money to gamble?  Would you borrow to go to a casino?  I view the stock market as a crap shoot, with the odds favoring the house, not the players.  It's not a guaranteed win.

I can think of many reasons to borrow money -- buy a house, buy a car, pay for an education -- but borrowing to buy stock is crazy.   It's stupid spending. 

When did debt become an accepted way of life?  In my house it's still a dirty four letter word.

Penny Pincher