Among the more ridiculous reactions to the surreal GameStop saga have been the widespread calls to “democratise investing”. Despite all the efforts to reform Wall Street, it shows that the system is still rigged against individual investors, say critics across the US political spectrum.

Well, call me old-fashioned but trying to buy wildly-overpriced shares in order to inflict losses on short-selling hedge funds is not what I think of as investing. At best, it’s trading. It may also be market manipulation, but that’s another story. What it isn’t is investing.