MARK BARNES: New tech-savvy investors will bypass advisers, but should tread cautiously
Whether you buy into the notion that the whole GameStop debacle is rooted in the virtual, activist intentions of a broad base of retail investors, or not (I don’t), there can be no doubt that there is a movement among previously dispersed and inconsequential individuals which, in their aggregation, will make them a class of investors worth taking seriously.
Beyond the obvious technology enablement, at least part of this new current is due to individuals being fed up with how much of the economic pie is being taken by intermediaries — who participate in capital and investment flows without taking any downside risk while often having ridiculously lucrative, upside-only, short-term fees and profit shares — and big players, seen as bullies...
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