Dumb Money Is Looking a Lot Smarter in Never-Ending Stock Rally

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Photographer: jxfzsy/iStockphoto

The scores of individual investors who piled into what seemed like an endlessly falling stock market are winning big now.

The S&P 500 has soared more than 43% since March 23, the start of a torrid rebound from the rout that sent stocks spiraling around the globe amid the coronavirus pandemic. In the months since, a flood of fiscal and monetary support combined with economic reopening optimism has fueled gains in even the mostly badly battered corners of the market.