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‘Retail investors are not buying the broad market, they’re buying stories’ – Vanda Research

Young woman checking her spending on home finance app

Alistair Berg

Aggregate retail net buying has fallen to its weakest pace since the Covid era despite markets hovering near all-time highs, according to Vanda Research.

Trading activity has remained exceptionally strong throughout 2026, but retail investors are selling almost as aggressively as

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