Michael Wursthorn
speaker
1,567 appearances
29 recordings
1 series
first heard Jul 2017
last heard Nov 2021
Michael Wursthorn’s voice in public audio — every appearance, attributed to the second.
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Appearances
Several investors talked about investing as filling a void for them, whether it was financial or just time, too, in that sense.
You couple all that with sort of this idea that stocks
aren't all that risky which is certainly the idea some investors believe whether it's whether it's right or not people are willing to take bigger gambits um you know the fact that you can do it all from your phone like robin hood it certainly played a huge part in fueling this trading along with the fact that trading is free across the board it cuts out an expense that you know for the the less money you have the the bigger part that it's eating into your overall income if you're paying those trading costs
So it's these confluence of factors that have really sort of inflamed investors' general sense of risk taking to a level that, you know, we just haven't really seen before.
You know, the question is just sort of, you know, when the party stops, what happens then?
Nobody's really thinking about that right now at this point.
People see stocks going up.
And as long as you have the Fed in that role, as long as COVID doesn't seem like it's getting completely out of control, it seems like people are pretty keen to keep their money or even add more money to the stock market at this point.
So a lot of those fall into this new category that grew out of the pandemic, and that's the work-from-home stocks, really.
A lot of those are the growthy, momentum-driven stocks that we've talked a lot about throughout the course of this rally over the last several years before the pandemic briefly interrupted it back in February and March.
So these are companies like Apple, Amazon, Netflix.
They're some of those very well-known technology names that
With some new sprinklings in there like DocuSign, CrowdStrike, Tesla certainly being in the mix big time these last several months.
So in a lot of ways, it's the same stocks we've been talking about for a long time.
But the pandemic has reshaped the economic outlook for so many companies.
And really for those technology stocks that's enabling people to continue to live their lives in some sense of normalcy, they found a whole new –
way to move even higher at this point.
That's one of the really big themes in terms of what's driving the stock market is the huge increase in participation of retail investors.
We've seen throughout this that retail trading is double what it was last year.
Basically, what we're seeing right now is that before the pandemic came along, people were already having an increased interest in retail trading.
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