This is a major trend that has received almost no attention. Long term it has significant implications: a market without citizen investors has a very different dynamic. For myself, I gave up on the stock market in 2008 believing small investors had become basically just road kill. That view is spreading, as this report makes clear. Click through to see the graphics.
The stock market is at all-time highs, but trading volume on the New York Stock Exchange is at 15 year lows.
Quite simply, the mom-and-pop investor has had enough and is leaving the market.