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Being Smart or Making Money

As a student of the great market maven Ned Davis, I have been made painfully aware of his most famous quote time and time again, in markets “there’s being smart and making money”. Make no mistake, the two are the not the same. That is not to say that smart people don’t make money as the world is certainly full of brilliant individuals with incredible investment acumen. Though, more often than not, people try to outsmart the market using either