A new WSJ piece seeks to quantify the extent to which the epic rally in stocks is driven by retail investors. The surge of retail buying has confounded Wall Street pros, who for months have been predicting a pullback in the S&P 500 and other major indexes. Wall Street lore has it that individual investors are often late to step in or out of the market. Yes, "Wall Street lore" has it. As I've said before, when you plaster "Dow 21,000" or "Wall Street hits historic milestone" all over every paper in America, you're going to attract mom and pop.

Source: Wall Street Journal March 05, 2017 21:22 UTC