Are you the "Dumb" money? -
Very good report. Even though they do not mention how to avoid being the "dumb" money, it is clear that only through education, practice and planning it is possible to make money in this business. By the way, this is a business and should be treated as such.
This excerpt says it all:
"... and in return got a chance to profit from what the industry considers "uninformed" trades -- or dumb money, to use the term of art."