Retail investors have played a big role in a rebound in global equity markets that seems bizarre in the context of Covid-related economic challenges, but makes more sense given the determination of central banks to support asset values.
Analysts from banks and asset management firms are increasingly shifting from bemusement at some of the antics of the new breed of retail investor to grudging respect for the collective wisdom of a crowd that seems willing to back any long shot in the hope of a profit.
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