How Smart Investors Profit From The "Dumb Money Dopamine Cycle"

We keep coming back to this idea because once you see it, it’s hard to unsee:

Prices do not move purely because something is valuable…

Prices move because attention arrives first.

Value matters…

But in the real world, attention usually shows up before fundamentals, before cash flows, before long term outcomes are clear.

And when attention clusters, prices often respond quickly.

That is the opening act of what we think of as “the dopamine cycle”.

Understanding that cycle is one of the most useful edges an investor can develop, because it helps you understand where most opportunity seekers are likely to lose money next.

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