Is it greed or is it helplessness?

When we see pictures put out by the different TV stations around the world, we usually see the group of people captured on the screens watching the price movements at the stock exchanges are elderly people. Is this the true indication of the composition of the small punters/investors populations in the stock markets? Or is it so because the old people are the ones who have the time to go to the stock exchange halls? Whichever it is, it does indicate the elderly people comprise a large percentage of the investing public. This is the sad part.