It’s Not Healthy to Have People Buying Stocks for Fun… Apparently
Howard Marks, Billionaire investor laments the day-trading boom and fears the carnage to come. As the likes of Dave Portnoy continue to garner massive interest amongst the Gen-Y/Gen-Xers, low-cost and no-cost brokers like Robinhood and WeBull have seen a veritable explosion in account openings. Aside from the new invstment craze of trading (see: buying) bankrupt stock like Hertz, this new wave of day-trader craziness is, according to Mr Marks, a reminder of the Dot-com boom, which as many recall (although none of the new crop of daytraders are old enough to remember), ended in tears. Read more…………..
Chart Of The Day
Shot in 2019 – Complacency may have crept into the private debt market. An inevitable change in circumstances will put firms to the test, says Oaktree co-chairman Howard Marks in this video.