"Retail investors haven't had a particularly good record in trying to time that."

Will this be enough to level the playing field for the retail investor?

For retail investors, financial services on the web offer great benefits.

And retail investors are often frozen out of many new issues.

No one is sure how much money retail investors have placed in these funds.

"About the best news today is that there was very little selling from retail investors."

But it is not as clear that ordinary retail investors would face the same problems.

For the great majority of those retail investors, it was the first time they had bought stock.

"And it changed a lot of minds among retail investors."

And then a lot of retail investors got into the market.