Where Is the Small Investor?

AMERICANS have risked more money—and with more success—than any other people in the world. Yet in the U.S. today, there is a shortage of risk capital that threatens to slow the pace of industrial progress. In the past five years, corporations have needed $39.3 billion in outside funds for expansion. Of this total, they have raised only $3.9 billion in new stock issues, have had to borrow the rest. The melancholy fact is that only a relative handful of Americans are willing to "take a chance" on the nation's economic might by buying shares in U.S. industry....

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