Goldman Sachs data shows that retail investors account for 30% of the daily trading volume of US stocks. The trading volume of individual stocks in May this year was 10% higher than the peak in January 2021, and the trading volume in June broke historical records. The daily trading volume of the options market has exceeded 50 million units this year. According to data from Citadel Securities, retail investors' buying intensity in July was at a record high. Goldman Sachs estimates that the asset size of individual self owned brokerage accounts reaches $12 trillion, accounting for 10% of the US corporate equity market; Individual investors in the United States directly and indirectly hold assets worth $111 trillion. Bobby Molavi, head of executive services at Goldman Sachs, described retail investors as the "white whale" of the capital market. The market is divided on the narrative of AI, with Ed Zitron warning that AI could bring about an "AI version of the Lehman moment," while Howard Marks believes that AI productivity potential may offset short-term financial pressures.
