The proportion of small and medium-sized retail investors in developed countries may be much lower than that in our country. A large number of small and medium-sized retail investors invest in funds, and their own participation in the market is not large, but the law of one win, two draws and seven losses is still in line.

It is not only unique to China, but also similar in the world, because of information asymmetry, and small and medium-sized retail investors are not professional investors. "Specialization in the industry" is just as useful in the capital market. Small and medium-sized retail investors are generally amateur investors, so they are definitely not as good as professional investors in investment skills and mentality.

retail investors in China generally make profits by earning spreads. The essential reason is that the dividend ratio of listed companies is too low, even lower than the fixed interest rate. What's more, they haven't paid dividends once in more than ten years, and there are too many misers. Therefore, retail investors want to rely on dividends to make profits, so it is better to deposit them regularly.