The supposedly dumb-money trading leveraged ETFs may know exactly what it's doing. TQQQ—a 3x Nasdaq-100 ETF designed to provide daily leverage—has returned roughly 41,000% since its 2010 launch

Two days ago Bonk launched their launchpad. The Pons eco dipped. The dumb money sold and chased. The smart money bought the Pons dip. Fast forward to today Bonk's Circus is irrelevant. Today Noxa relaunches. The Pons eco is on a dip. The dumb money is selling to chase. The smart money is buying the Pons dip.

Chris Camillo reveals a $40,000,000,000 fund manager follows his show, Dumb Money “I have funds that I know manage $40,000,000,000 that follow the show. I have another fund that's $25,000,000,000 that follows the show."

This cycle: considering the legalization of crypto primitives (prediction markets, perps, ICOs, RWAs), don’t ask yourself what dumb money (retail) is going to buy, ask yourself what smart money (tradfi) is going to buy instead.

CHRIS CAMILLO DOES NOT LOOK AT FUNDAMENTALS, TECHNICALS, OR EVEN THE STOCK PRICE BEFORE HE BUYS He @ChrisCamillo calls it social arbitrage. The world changes constantly; the bigger and faster the change, the bigger the opportunity, and the whole job is noticing that change before other people do and connecting it to a stock before they do. He says it sounds dumb, which is why he and his partners call themselves dumb money. Wall Street has used that phrase for decades to describe regular investors, and Camillo thinks it exists to convince people that only institutions can do this, so everyone else has to go through them and pay the fees. "Which is complete BS, obviously."

cash-cat:native was Robinhood's original app mascot. One Vlad Tenev tweet sent the whole chain vertical and pumped Cashcat to $150M. Here's the breakdown from today's show: "Vlad the founder had this to say, which I think is what started to send this stuff. He said, while we're building Robinhood Chain to be the best chain for RWAs, it works great for memes too. So once he tweeted that, just overnight, about six hours ago, all of the tokens that had been launched on Robinhood Chain absolutely ripped. There's just loads of tokens there. Cash Cat, Captain Robinhood, Tendies, Orhood, Vlad Dogg, Dumb Money, Dog in the Hood, Robinhood Bull. This is all so dumb. And we've done this a hundred, if not more times, with all the different L2s or different chains that got launched. If you are in super, super early, congratulations. Take a profit. Enjoy."

A 34 year old insurance educator from Massachusetts invested $53,000 into a dying video game store that nobody wanted. Wall Street laughed. Then it turned into $48 MILLION and he brought the entire hedge fund industry to its knees. – Keith Gill worked a regular 9 to 5 job at MassMutual insurance in Massachusetts. – He spent his evenings posting stock analysis videos on YouTube under the name Roaring Kitty. He had almost no viewers. – In 2019 he invested $53,000 into GameStop. – A struggling mall video game store that every Wall Street hedge fund was betting against. – They were so confident it would fail they had shorted the stock meaning they had borrowed and sold shares expecting to buy them back cheaper when the price collapsed. – Gill posted his analysis on Reddit's WallStreetBets forum. – Argued GameStop was undervalued and the hedge funds were wrong. Most people ignored him. – Then ordinary people started reading his posts. Retail investors with $500 and $1,000 accounts started buying GameStop shares in their thousands. – In January 2021 GameStop stock went from $3 to $483 in three weeks. A 16,000 percent increase. – The hedge funds that had shorted the stock were now in a catastrophic position. – As the price rose they were being forced to buy back shares at prices they never imagined. Melvin Capital lost $6.8 BILLION in a single month. – Robinhood and other brokers under pressure from Wall Street suddenly restricted ordinary people from buying GameStop while letting institutions sell freely. The internet exploded. – Gill was called to testify before the United States Congress. – He sat in front of the entire House Financial Services Committee in a headband and said: "I am not a cat. I am not a hedge fund. I like the stock." – His $53,000 had turned into $48 MILLION at its peak. – He quietly posted his final Reddit update in April 2021 showing a profit of nearly $20 MILLION. Then disappeared completely from the internet. – A Hollywood film called Dumb Money was made about him in 2023 starring Paul Dano. – He has given no interviews. Made no public appearances. Nobody knows exactly what he did with the money. A regular guy with $53,000 and a YouTube channel no one watched turned a dying mall store into a weapon that wiped $6.8 BILLION from a hedge fund in one month.