Main Street investors who have reaped windfall gains from the steepest stock market rebound on record now seem to be making for safety, brokers say, just as Wall Street experts are advising clients to dip their toes into riskier assets again.
FILE PHOTO: A man wears a protective mask as he walks past the New York Stock Exchange on the corner of Wall and Broad streets during the coronavirus outbreak in New York City, New York, U.S., March 13, 2020
But many of these novices, who began trading partly as entertainment and partly as plunging prices made stocks more attractive, now appear to be shifting strategy and cashing out of the frothiest sectors, or moving into safer-seeming bets. The moves flip the image of retail investors as “moths,” as they are called in Thailand for their reputation of being drawn to bright lights only to get burned, since small traders appear to have led rather than lagged professionals this time.
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