I can give a number of examples where I did very well because of dumb money.I'm going to assume you don't call it "dumb money" when you make successful trades.
The best example in my case is made over 1700% gains on stock options from my former employer Commerce One (CMRC). Look up the history for an interesting dot-com story.
That was dumb money and hit the lottery, but realized it was just that.
Many of my former Commerce One friends weren't so lucky. Not only did many have phantom stock gains and owed taxes on gains that were underwater but many held their stock till it went to zero.
They lost everything.
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