Markets Insider: Average retail investor's portfolio lost 32% — but that hasn't stopped them from buying the dip, Vanda Research says

"History taught us that when facing losses of this magnitude retail would have given the first signs of capitulation, but sentiment appears to be (still) quite resilient," Vanda researchers Marco Iachini and Giacomo Pierantoni wrote in a note. The company's VandaTrack tool monitors retail activity in more than 9,000 stocks and ETFs in the US market.