Video | Founder of a certain exchange: The real "smart money" is actually retail investors

On July 6, Robinhood founder Vlad Tenev stated during his appearance on The Master Investor podcast that an increasing number of people are starting to realize that retail investors might actually be the real "smart money." In his view, institutional investors often focus excessively on macro indicators such as tariffs and interest rates, and may even sell fundamentally sound companies just for portfolio rebalancing. Retail investors, on the other hand, follow more straightforward reasoning—paying attention to whether a company’s operations are improving, if its products are excellent, and whether its revenue and profits are growing. Because of this, retail investors are sometimes better able to withstand short-term volatility and seize opportunities in undervalued stocks during market panic.