Video | Robinhood founder: The real “smart money” is actually retail traders

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On July 6, Robinhood co-founder Vlad Tenev said on The Master Investor podcast that more and more people are realizing that retail investors may be the real “smart money.” In his view, institutional investors often focus too much on macro indicators like tariffs and interest rates, and may even sell companies with solid fundamentals due to portfolio rebalancing; meanwhile, retail investors’ logic is more direct—whether the company’s operations are improving, whether its products are excellent, and whether revenue and profits are growing. That’s why retail investors sometimes withstand short-term volatility better and seize opportunities when markets panic and good companies are incorrectly sold off.
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