They're mad as hell, and they aren't going to buy the dips anymore.
Much has been made of the billions of dollars that small investors have been pulling out of stock funds. However, some $4 trillion sits there—and most people still aren't selling. Too frightened and angry to buy, they are simply watching with a sense of helpless horror.
In an online survey conducted between Aug. 9 and 15, a team of psychologists led by Paul Slovic of Decision Research in Eugene, Ore., probed how the latest financial turmoil has affected the mindset of Americans. The survey has been conducted eight times since the fall of 2008 among hundreds of people nationwide, asking the same questions of many of the same investors.
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