Core Viewpoint - The resilience of retail investors in the U.S. stock market has been notable, as they continue to buy during market downturns, contributing to the recovery of indices like the S&P 500, and reviving meme trading trends [1][3][9] Group 1: Retail Investor Behavior - Retail investors have shown a willingness to buy the dip during market declines, such as the significant drop in the S&P 500 earlier this year, which they helped rebound to record levels [1][4] - The current generation of retail investors has largely experienced a favorable market environment, growing up in a low-interest-rate era, which influences their risk tolerance and investment behavior [3][5] - Data from EPFR indicates that during the 2022 market downturn, retail investors still contributed a net inflow of $27 billion into U.S. stock mutual funds and ETFs [4] Group 2: Market Dynamics and Sentiment - The return of meme trading and the high valuations of large-cap tech stocks have raised concerns among Wall Street professionals about a potential market bubble [3][8] - Retail investors' confidence is reflected in the increasing proportion of stocks in household financial assets, which reached 36% in Q1 2023, the highest since the 1950s [6][7] - A survey by Charles Schwab revealed that approximately 80% of respondents plan to buy stocks if market volatility occurs in the coming months, indicating a strong bullish sentiment among retail investors [8]