How Not To Be Dumb Money

From Forbes 3/12/2020, Sentimentrader chart

Why believe a title that says I’d know how to tell dumb from smart money? Because I’ve been both and learned from financial scars accumulated since 1987. I’ve also taught a behavioral investing course called “The History of Human Financial Stupidity — Including Mine”. I had no shortage of my own dumb money cases to give students.

In Liar’s Poker Michael Lewis defined Wall St as a system designed to transfer money from…