Source: Getty Images

I recently had the privilege of attending an investment talk hosted by a private bank for their clients. The talk was given by a bunch of people with really impressive sounding titles and fancy accents, so it was a fascinating experience. Halfway through the talk, I came to realize that what they were describing, was basically the “Smart” Money trades of 2018, ie. the consensus trades of the year. There are 3 ways to look upon such Smart Money trades:

1. This is the “Smart” money, if they say this, it is definitely true. If you belong to this school of thought, you think that the fancy Chief Investment Officer who graduated from Wharton and has an MBA from Harvard is always right. With the wealth of information and years of experience at his disposal, if he tells you to “long tech”, you’d be a fool for not