Some time back, BT pontificated:
The aim must be to gradually equip small investors with the skills needed to make more informed decisions and thus minimise losses and complaints when they occur. To do this, a fundamental mindset change is needed – dismantling contra and improving disclosure are only the first steps.
Changes have to be made with a mind to what small investors really need to be told instead of what the financial community wants to tell them.
My problem with this is that it lays the responsibility on anyone but the retail investor. If he wants to punt mindless, let him accept the consequences. Why spend money and effort trying to educate him when he isn’t interested?
A fool and his money is soon parted.
As the chairman of SGX, Pillay (he was one FT that contributed to S’pore — at SIA and as one of the contributors to and implementers of Dr Goh Keng Swee’s policies) said, retail investors have to take an interest in corporate governance. Ironically a report on his speech appeared in BT on the same page as the above rubbish.