Before revision:  We surveyed wealthy retail investors who are clients of Vanguard in mid-February 2020 , around the all-time stock market high, and then again on March 11 and 12 , after the stock market had collapsed by over 20 \%.
After revision:  We surveyed retail investors who are clients of Vanguard in mid-February 2020 , around the all-time stock market high, and then again on March 11 and 12 , after the stock market had collapsed by over 20 \%.