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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That's an extreme example, but there's been a number of instances where people didn't understand the options trades they were making and ended up suffering
substantial losses because of that.
And in a market like this with how fast things are moving, they're seeing that also in some individual stock prices too.
The Citadel Securities Executive, I think, explained this really well.
He thinks that you're going to see some of this persist, but likely not all of this new activity persist.
So
The bump to 15% at the end of 2019 in terms of retail trading activity, that followed Schwab and other brokerages cutting their commissions down to zero.
So Citadel and other brokerage industry experts believe that you'll continue to see an elevated level than the historical average of 10% just because commissions do not exist anymore.
But whether or not it remains at 20% or 25% of those busiest days will likely rest on the fact that however long this volatility persists, however long we're in this uncertain economic environment where people feel they can trade on these opportunistic price swings in individual stocks.
So that could be for the next several months or even longer, depending on how that outlook persists.
But for the most part, I think most people believe that you're going to see a higher level of retail participation than you have seen over the last several years.
So typically value stocks are defined as companies that are cheap.
And you figure that out by looking at its price to book value or its price to earnings ratio and comparing it to, say, the average stock in the S&P 500 or others.
So companies that have that appearance of being cheap.
tend to have, say, some actual assets such as manufacturers with factories and whatnot.
If they're trading below their book value, below their net worth, they would be deemed a value stock then.
Those are the majority of the companies.
I mean, banks are, by and large, one of the
The biggest constituents of value stocks, industrial stocks, are another big group.
You do have some healthcare companies.
Showing 401–420 of 1,567 · page 21 of 79
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