The big business news yesterday was the Dow hitting 10,000 for the first time in a year.
But there’s an interesting story in the Washington Post today about small investors missing this rally.
Still shell-shocked from the ravaging of their retirement accounts during the financial crisis, mom-and-pop investors remained cautious as the Dow soared 53 percent from its March 9 low to Wednesday’s closing price of 10,015.86, the Post writes.
The likely drivers of the rally are instead institutional investors such as large pension funds and hedge funds, market analysts said. And in interviews over the past two weeks, fund managers and financial advisers said most small investors have only recently begun to talk about getting more aggressive with their beaten-down portfolios.
In the AJC:
In other media: