Published2025SSRN Journal of Financial Economics

Wealth is Faith. Why the Unintelligent Investor Wins, from Index Funds to Bitcoin

Authors: Andrea Puggioni

Abstract

In a world driven by uncertainty, this essay explores how faith - not knowledge - is at the heart of modern investing. It reveals how the "unintelligent" investor - who admits he knows nothing and simply believes in long-term growth - outperforms the expert who tries to predict the market. Drawing on thinkers, as well as writers and artists who understood the power of technology, democracy and belief, the essay shows why the markets thrive not on reason, but on shared conviction. From index funds to Bitcoin, wealth today is not built through calculation, but through the quiet strength of faith.

Keywords

Behavioral FinancePassive InvestingIndex FundsBitcoinInvestor PsychologyWealth AccumulationRisk and UncertaintyHerd Behavior

Tags of Social Finance

#Evolutionary Finance#Consumer Decisions