No More Greater Fools: Retail Traders Are "Pretty Fully Invested" In …

“Margin loans at high levels, client cash at low levels and account holders at the firm logging in frequently.”
If you didn’t know any better, you might think the above is yet another example of someone describing one of the dynamics driving China’s self-feeding equity mania. After all, the country’s “world-beating” rally has everyone from housewives to banana vendors opening stock¬†[…]