Are You With the Dumb Money or the Smart Money?
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June 14 (Bloomberg) -- Market observers often divideinvestors into “smart money” and “dumb money.” Our researchshows there may be a way to figure out which group you are in.
The first place to look is prices, which reflect theinteraction of smart money and dumb money and may containvaluable information about the proportion of either in themarket. In other words, the price knows which category we belongto. The trick is to extract that information.