Barrons writes: Main Street has no love for Wall Street. Not
the scruffy rabble of Occupy Wall Street but the stalwart middle class that
Charlie Merrill once implored to own a piece of America. They want no part of
the stock market.
"Invest in Stocks? Small Players Still Smarting"
That was the headline of a page one story in Tuesday's USA Today. Not on the
business page, but the front page of the main section, above the fold,
alongside the lead story in the right-hand column of what supposedly is
"The Nation's Newspaper."
Middle Americans, who had once counted on stocks as the best
way to build wealth, no longer want anything to do with the market, according
to the USA Today story (which has a wimpier headline online, "Invest in
stocks" Small player still smarting".) After the brutal bear market
of 2008-09, they want nothing to do with stocks -- even after they've doubled
in the recovery from their lows.
For the investors interviewed for the story, who are mainly
in their 60s, the frenzy over the Facebook initial public offering next week or
the seemingly unstoppable (until recently) surge in Apple shares have no
interest. They prefer the apparent safety of bond funds or, in one case, gold
coins...
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