smart money

money invested or wagered by experienced investors or bettors.
such knowledgeable investors or bettors.
Law. punitive or exemplary damages.

1685–95 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
smart money
1.  a.  money bet or invested by experienced gamblers or investors, esp with inside information
 b.  the gamblers or investors themselves
2.  money paid in order to extricate oneself from an unpleasant situation or agreement, esp from military service
3.  money paid by an employer to someone injured while working for him
4.  (US) law damages awarded to a plaintiff where the wrong was aggravated by fraud, malice, etc

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

smart money
"money bet by those in the know," 1926, from smart (adj.). The same phrase earlier meant "money paid to sailors, soldiers, workers, etc., who have been disabled while on the job" (1693), from a noun derivative of smart (v.).
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Again, inexperienced investors could keep a close eye on what the smart money
  is doing, and adjust their bets accordingly.
Probably another indicator the smart money uses will show it.
The smart money is investing in honestly clean technology.
But there are signs the bubble is about to burst, and smart money may be trying
  to turn mania into cash.
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