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
trading stocks on their own.
And that was largely because brokerages across the board had cut commissions.
You couple that with the fact that stocks took a massive dive of 30% back in March.
Along with this rebound, people just saw a perfect opportunity to jump in the market.
And in some ways,
They could do it a lot cheaper than ever before.
They didn't have to pay those those trading fees that that usually come with every transaction they make.
So it's propelled this whole new class of day trader.
And it's even bigger than that in some ways, because it's not even just the day traders.
You just have maybe some retail investors that are putting in a few trades a day.
They don't qualify as your technical day trader.
But, you know, they're doing something that they would have never normally done before.
And it's really been a huge component in terms of why we're seeing the stock market get through a lot of the tough headlines and some of the downbeat economic news we've seen on some days.
It does.
And this is what's going to be sort of the really interesting test for the market in the months and really possibly even years ahead is in some ways, you know, stocks are going to have to grow into these multiples that they're trading at now.
I mean, the stock market really has gotten ahead of itself, but it's always been this forward looking vehicle to determine, you know, get a determination of where the economy is going.
So, you know, if people see earnings continue to grow, if people continue to see the support in the market, like the Fed, for instance, too, it's going to keep stocks from really falling off this incredible ledge that they put themselves on over these last several months.
How those retail traders end up reacting to all this is really the big mystery.
Do they continue to buy, or does something make them skittish where they get out of the market en masse?
And then you could see some real convulsions there.
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