Small retail investors are playing the equity market with increasing frequency and value, and they’re losing.
Also today:
Plus an interview with ANZ senior economist Cherelle Murphy about the Federal Government’s budget statement due out on Thursday night.

CGT backdown; Qantas long-haul plans delayed; Trump in no rush to do deal
16:07

Q+A: The great wealth transfer: what wealthy families get wrong
11:17

Afternoon Report | ASX climbs on Hormuz hopes
04:59