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It’s like the Wild West with ‘get-rich-quick crowd’ vs. Wall Street pros, but it’s too easy to blame retail investors for ‘rampant speculation’


Tales of out-of-work 20- and 30-somethings using coronavirus stimulus checks to scoop up stocks on Wall Street with reckless abandon are coming fast and furious, but the reasons behind the recent fervor for investing is, perhaps, far simpler.

MarketWatch has written a bit about the rising influence of retail investors of late, including in an article by Mark Hulbert here, and another by columnist Howard R. Gold.

A New York Post story cited Deutsche Bank analyst Parag Thatte as attributing much of the nearly 40% surge in the U.S. stock market since its late-March nadir to unexperienced small investors with a voracious appetite for risk. The analyst suggested that Wall Street…


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