lol??

I'm sorry but this may be a dumb question... What does LOL or lol mean? I see it all the time. I looked it up on Google and it came back as "laugh out loud". Is this what it means? And if so why do so many people put it at the end of their posts? Thanks and bring everyone home.
pgv.

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Comment by Peter on February 16, 2009 at 11:46am: pgv are my initials . It's how I always sign things.

Comment by Mike Schlags (Captain Busy) Retd on February 16, 2009 at 1:16am: seems that everything now is an abbreviation... however, pgv? now that's one I am not familiar with Chief... ms

Comment by firekiller on February 15, 2009 at 4:34pm: Sometimes it will mean lots of luck depending on the blog.

Comment by Peter on February 15, 2009 at 11:59am: Chief Mayers,
Thanks for the answer.
pgv.

Comment by Mick Mayers on February 14, 2009 at 10:30pm: When they're putting it at the end of their post, they're usually saying something tongue-in-cheek, thus they are explaining the they are "laughing out loud" because otherwise you'd read it and without seeing their face, you'd be saying, "what a dumba**". Or if they are answering you and LMFAO, you have very obviously hit the funny spot. If so, start booking some time at the local comedy show, because you're on a roll.