Raymond Micaletti built the MOOD ETF around a single idea: institutions consistently outperform retail traders, and you can measure the difference. After watching a relative sentiment indicator correctly call two major market bottoms while all his other signals failed, he stopped ignoring it and started building. In this episode, Ray breaks down how he uses Commitments of Traders data and sentiment surveys to construct signals across equities, bonds, commodities, and currencies. We dig into t...