Interesting, yesterday I ran into someone and she started talking about how people are making a lot of money in options. She went on to say her friend made $3.5M in Tesla options.
Tushar > On Jul 1, 2020, at 1:12 PM, Ken Hohhof <af...@kwisp.com> wrote: > > > I spent about an hour on the phone yesterday with my guy at Morgan Stanley, > basically cutting my exposure to equities in my IRA in half. Went from 60/40 > to 30/70. Also got rid of one real estate ETF. > > But the interesting factoid I wanted to pass along was he said a lot of > individual small investors are currently speculating in the market including > in options basically as a form of entertainment. And that is helping to > boost some irrational exuberance. Even some big name stocks that have done > well during the pandemic have been bid up to some pretty crazy PE ratios. > > I guess if you can’t go to a movie, concert, bar, or casino, there’s Wall > Street. But people at a casino aren’t necessarily looking to make a profit, > just have a good time while losing their money. > > It also turns out he knows the family of the kid who committed suicide > because he thought erroneously that he lost almost a million dollars on some > millennial focused stock trading app. > https://www.cnn.com/2020/06/19/business/robinhood-suicide-alex-kearns/index.html > > -- > AF mailing list > AF@af.afmug.com > http://af.afmug.com/mailman/listinfo/af_af.afmug.com
-- AF mailing list AF@af.afmug.com http://af.afmug.com/mailman/listinfo/af_af.afmug.com
