Well the other side of this is that retail investors are usually scared off of the markets because of the last bust. It's only when they start hearing news of

Well the other side of this is that retail investors are usually scared off of the markets because of the last bust. It's only when they start hearing news of dow 20k and how the market is doing well when they start putting their money in. By that time, they're usually the last to the party. On the other hand, retail investors are probably the least likely to dump money in after a crash, which is the best time (buy low, sell high). Instead they are selling and generally trying to protect capital. Then they stay out until we do it again.