Stop Calling Them ‘Dumb Money’: Retail Investors Are Revolutionizing the Stock Market

CATO Institute | Jennifer J. Schulp | Jan 4, 2020 Are you “dumb money?” I am. You probably are too. Wall Street institutions — so‐​called “smart money” — usually throw around the phrase to describe investment activity they don’t like. And by “dumb money,” they usually mean individual, or “retail,” investors. Retail investors are big news

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