Investors aren't stupid, they just have to much money not to be a bit lazy about it and they will follow other money, institutions, investors as a shortcut for

Investors aren't stupid, they just have to much money not to be a bit lazy about it and they will follow other money, institutions, investors as a shortcut for not being their own analyst. There's alot of money out there, you gotta out it somewhere not in dollars. It makes it easy to blindly follow those previously anointed as geniuses off a cliff.