The "smart money" effect in mutual funds persists in the UK and the US, with both individuals and institutions making buying decisions that lead to better performance.

Which Money is Smart? Mutual Fund Buys and Sells of Individual and Institutional Investors

Smart money in corporate bond mutual funds is largely driven by chasing past performance, rather than using superior information to predict future returns.

How Smart is the 'Smart Money'? Evidence from Corporate Bond Mutual Funds

Smart money (hedge funds) reduces stock market anomalies, while dumb money (mutual funds) exacerbates them, affecting growth, accrual, and momentum anomalies.

Smart Money, Dumb Money, and Capital Market Anomalies

The smart money effect exists for young funds, driven by investment flows responding to public information, past fund returns, and may be driven by non-managerial characteristics like price pressure.

Is Money Smart When Funds are Young

Teaching financial literacy early in life promotes responsible money management, time management, and increased work ethics, while promoting responsible citizenship in today's society.

Helping Students to Become Money Smart.

Australian managed fund investors exhibit a smart money effect, chasing funds that have performed well in the past, but stock return momentum does not explain this effect.

How smart is money? An investigation into investor behaviour in the Australian managed fund industry

Small fund flows are more sensitive to recent performance than large fund flows, supporting the'smart money size effect' and confirming that small funds tend to be superior performers.

Smart Money and Small Funds

Smart investors, particularly among small fund investors, outperform nave chasers due to their market timing ability.

Where are the Smart Investors? New Evidence of the Smart Money Effect

Digital money, such as smart cards and network money, affects the demand for money and its impact on monetary control and the monetary transmission mechanism.

Monetary Policy Implications of Digital Money

Digital money, while less stable as a store of value, could rapidly adopt as a means of payment, with potential benefits and risks, and a synthetic central bank digital currency (sCBDC) to manage risks.

The Rise of Digital Money

Smart investors outperform naively chased winners due to their market-timing ability, distinguishing them from naively chased winners.

The smart money effect exists in Taiwanese mutual fund market, with investors becoming more careful and logical in their investment decisions after DOWN markets, due to negative emotional states.

When is money likely to be smart? Evidence from mutual fund investors in Taiwan

Smarter-money strategies, which concentrate in high-flow-impact funds, significantly outperform the hedge-fund index, potentially due to their ability to predict other investors' behavior.

Smart Money or Smart about Money? Evidence from Hedge Funds

Dumb money tries to learn from market prices whether it is dumb, but its ability to learn depends on its openness to the idea of being dumb and its ability to assess the total amount of dumb money in the market.

Smart Money, Dumb Money, and Learning Type from Price

The Money Smart for Older Adults Program effectively raises awareness of financial well-being and supports informed financial decision-making among participants, particularly ethnically diverse and low-income individuals.

The Money Smart for Older Adults Program: A Qualitative Study of the Participants’ Financial Well-Being

Optimal fund size, where money flows meet optimal fund size, can lead to higher risk-adjusted returns in mutual funds.

Smart money meets smart size

Smart contracts can revolutionize financial payments by addressing transparency issues and enhancing security in the business environment.

Developing Smart Contracts for Financial Payments as Innovation

The time value of money changes as it moves on a timeline, with compounding and discounting rates indicating the cumulative risk assumed by investors.

Time Value of Money : Concepts and Applications

The "smart money" effect is explained by stock return momentum, not fund selection ability, as investors merely chase recent winners.

Does Stock Return Momentum Explain the 'Smart Money' Effect?

Smart campuses are in their infancy, with limited real-world application in society, economy, environment, and governance domains, highlighting the need for further research and development.

The Making of Smart Campus: A Review and Conceptual Framework

Some studies suggest that the "smart money" effect leads to better performance in mutual funds and small funds due to market timing and past performance, while other studies indicate that it is driven by chasing past performance rather than superior information.