MEK Broker Data, page-30

It’s not a matter of being smarter or getting in earlier, it’s a matter of responsibility. Retail investors work with smaller amounts and assess risk based on their personal circumstances. Some don’t assess risk at all or simply have a higher tolerance for it. Institutions, on the other hand, mitigate risk and invest on behalf of thousands, if not millions, of clients. They’re not chasing multi-bagger opportunities because they’re already wealthy; their focus is on preserving capital and achieving modest, consistent gains. Different horses for different courses.