Kal Mai Girega: Team Robinhood and exuberance (3/5)
zappchai.substack.com
The stock market’s sudden rally from the lows in March after lockdown was announced has left many professional investors scratching their heads. Their response has been to dismiss this“recovery” as a blind rally powered by “dumb money”, the irrational exuberance of ignorant retail traders, who, bereft of avenues to spend or invest, are gambling away their extra cash through zero-cost brokers. And this is not just a trend in India.
Kal Mai Girega: Team Robinhood and exuberance (3/5)
Kal Mai Girega: Team Robinhood and exuberance…
Kal Mai Girega: Team Robinhood and exuberance (3/5)
The stock market’s sudden rally from the lows in March after lockdown was announced has left many professional investors scratching their heads. Their response has been to dismiss this“recovery” as a blind rally powered by “dumb money”, the irrational exuberance of ignorant retail traders, who, bereft of avenues to spend or invest, are gambling away their extra cash through zero-cost brokers. And this is not just a trend in India.