A sucker's born every minute, they say. And in the parlance of the markets, the non-institutional "retail" shareholder tends to be called the sucker. This may not be true, but we'll never know - unless we quantify it.
Here's how we've done it. We get data every day on how participant open interest changes in the futures market. We get them divided into:
• Foreign Institutions
• Domestic Institutions
• Brokers . . .