Newbie Investors Shy Away From 'Own Research' After 2022 Stock Swoon, Study Finds
by: Kerry Hannon
Investors who got into the market early in the pandemic are backing away from do-it-yourself stock picking, according to a survey published by The FINRA Investor Education Foundation, NORC at the University of Chicago and the U.S. Securities and Exchange Commission, which compared results from a similar survey they conducted in 2020. When asked what information sources they use when making investment decisions, new investors relied less on "other personal research," down nearly 10% compared to 2020, and more on financial professionals, up 9.3%. “The shift away from personal research and to the use of financial professionals may be driven by the significant drop in the markets between the first survey and the second survey,” Gary Mottola, research director at the FINRA Foundation, said.
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