What happens when millions of individuals suddenly decide to dabble in a frothy stock market?
It is not a new question, but a timely one, as US regulators weigh the implications of a sudden burst of retail trading that has caused stock prices to pop like solar flares. Is it something to worry about, should something be done? And if so, what?
China found itself in a similar position in 2015, when an army of novice investors flooded into equities, fuelled by cheap credit and cheered on by the central government.
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