Market experts have been caught with their pants down many times before because of the actions of uninformed investors.
In 1999, the rational move would be to short tech stocks as they were over valued, but those who tried it lost lots of money because they didn't factor in how crazy investors were at driving up the price.
You can technically be right but still end up losing everything.
Redditors made millions of dollars. A couple hedge funds lost billions. Where did the rest of the money go to? Other institutional investors. Nearly 10% of Gamestop is held by a mutual fund where experts try to pick undervalued stocks.
