The ‘Smart Money’ Is Dumb
Perhaps the cruelest joke perpetuated by the financial media is the existence of “smart money.” After all, who wouldn’t want what simply tracking the smart money supposedly promises? Just follow in their footsteps and watch your own money grow. If only it were that simple. In truth, the myth of “smart” money is a particularly insidious one. There’s nothing to support that it actually exists, other than its label.
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