Stupid herd investors defined... A stupid person is the most dangerous type of person.
Following the "herd," has always ended badly for investors. In every full-market cycle, there is an inevitable belief "this time is different" for one reason or another.
It isn't. It has never been. And this time will not be different either.
However, what has always separated out the great investors from everyone else, is they have acted independently of the "herd." They have a discipline, a strategy and a driving will to succeed.
They don't "buy and hold." They buy cheap and sell expensive. They avoid losses at all costs and they deeply understand the relationship of risk to reward.
They are the "non-stupid."
These are the ones you want to follow.
Not the ones screaming at you on television telling you to "buy, buy, buy."
Just remember that for every full-market cycle our job is to not only participate in the first-half of the cycle as prices rise, but to avoid the devastation during the second-half.
"Non-stupid" investors don't spend a bulk of their time getting back to even.
"Getting back to even" is an investing strategy better left to the "herd."