The Dumb Money Is Getting Smarter Every Day
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In the parlance of Wall Street, there's the "smart money" and the "dumb money." The dumb money falls for investing fads, sells into market panics and pays ridiculous fees. The smart money doesn't.
It's getting a lot harder to tell the two apart. More amateur investors have given up on trying to outsmart the market. And even the most sophisticated investors are rejecting strategies that require Ph.D-level math and managers with million-dollar salaries.