Yes, and they should also be able to understand when the system that creates those smart but speculative bets is creating deadweight loss, and identify that as

Yes, and they should also be able to understand when the system that creates those smart but speculative bets is creating deadweight loss, and identify that as a problem. BTW, I have personally made this bet in the past (though I didn't put 3 to 4 months into it...) and it was indeed an excellent bet to make. But benefitting from a system does not preclude identifying problems with it.