Or, it is a viable strategy because enough people are doing it. We’ve seen this with ESG funds for instance. More investors want to invest in ESG funds, because

Or, it is a viable strategy because enough people are doing it. We’ve seen this with ESG funds for instance. More investors want to invest in ESG funds, because bigger firms decided to. That makes ESG funds go up, and those investors then look like geniuses. Similarly, when a huge portion of the population market buys the S&P 500 every single week, how can it not go up?