its become a joke

Well when I started investing in the sharemarket I thought it was an investment where the smartest people in the country invested.
Yet through this time my first bear market it seems intellegence goes out of the window and pure panic rules.
Obviously all investments have a risk and some shares do deserve to be smashed due to their poor projects or management yet even the finest companies are not being slightly sold down but also smashed.
Where are all these smart cookies that are selling now ?
I know some are hurting myself included so no offence intended by the title hold in there fellow investors we will recover.