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Schemppho
2022-01-17

Last year, he laughed at American retail investors for "stupid people and more money", but now institutions regard visiting forums as a compulsory course

大约85%的对冲基金和42%的资管经理现在都在跟踪散户交易的留言板。

Last year, he laughed at American retail investors for "stupid people and more money", but now institutions regard visiting forums as a compulsory course

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{"i18n":{"language":"en_US"},"data":{"magic":2,"id":9005726497,"tweetId":"9005726497","gmtCreate":1642420735890,"gmtModify":1676533709286,"author":{"id":3582187509385859,"idStr":"3582187509385859","authorId":3582187509385859,"authorIdStr":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":35,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>G</body></html>","htmlText":"<html><head></head><body>G</body></html>","text":"G","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/9005726497","repostId":1126336580,"repostType":4,"repost":{"id":"1126336580","kind":"news","pubTimestamp":1642419985,"share":"https://ttm.financial/m/news/1126336580?lang=en_US&edition=fundamental","pubTime":"2022-01-17 19:46","market":"us","language":"zh","title":"Last year, he laughed at American retail investors for \"stupid people and more money\", but now institutions regard visiting forums as a compulsory course","url":"https://stock-news.laohu8.com/highlight/detail?id=1126336580","media":"华尔街见闻","summary":"大约85%的对冲基金和42%的资管经理现在都在跟踪散户交易的留言板。","content":"<html><head></head><body>Author: Wang MeiLast year, there was a \"war\" in the U.S. securities market in which retail investors \"grouped together\" to squeeze short institutions, which not only subverted the market, but also changed the investment pattern to a great extent-Fund managers who once laughed at retail investors in U.S. stocks as \"fool's money\" are looking for clues in social networking posts on where retail investors may turn next.According to a Bloomberg survey, about 85% of hedge funds and 42% of asset management managers are now tracking message boards for retail trading.JPMorgan Chase launched a new data product in September last year, which includes information on which stocks individual investors are likely to be buying and selling, as well as which sectors and stocks are being discussed on social forums. The bank said that about 50 customers are testing the product, including some of the largest asset management and quantitative fund managers. JPMorgan equity traders are also using the data product to help manage their own risks.The Wall Street Journal quoted Chris Berthe, global co-head of cash equity trading at JPMorgan, as saying:\"If you are a professional investor, you can't ignore the flow of money from retail investors. This is a whole new class of investors, and this investor class is actually grasping the right investment themes.\" Professional investors are beginning to avoid large shortingAt the beginning of last year, no one expected that the madness of retail investors would make the big short Citron surrender.The story began on January 19 last year, when Citron, a Wall Street short seller, released a message saying that the stock price of GameStop was only worth $20, claiming that those who bought the company's stock at that time were \"fools.\" Founded in 1984, GameStop is a chain game sales enterprise in the United States, specializing in video games and consumer electronics products. It has more than 6,000 retail stores in the United States, Canada, Europe, Australia and New Zealand. The company's stock price has been lackluster until 2020, but since January 13, 2020, the company's stock price has rapidly risen by nearly 50% to close to $40. After Citron Company released the news of short selling, it was unexpectedly attacked by retail investors on the popular \"investment\" section \"WSB\" of reddit website. Under the call of retail investor \"opinion leader\" Keith Gill, only 10% of the retail investors in the US stock market were unprecedentedly united, \"holding a group\" to do more game stations, setting off an unprecedented long-short war. The stock price of game stations also soared from $39.12 on January 20 last year to $347.51 on January 27. Under the crazy purchases of retail investors and other investors, the market value of GameStop has also soared from US $2 billion to more than US $24 billion, and the stock price has risen by 1,700% in less than a year. Finally, Citron Company surrendered. On January 29th, it stated on the social platform that the company would stop publishing short-selling reports, terminate this 20-year-old business, and focus on long-term investment opportunities in the future to explore potential stock opportunities for retail investors. At the same time, Melvin Capital, a Wall Street tens of billions star fund, also announced the liquidation of its short position in GameStop. The long-short war between Wall Street giants and American retail investors has temporarily come to an end. According to an estimate by an American data company, short-selling institutions lost about $19 billion in this showdown. In fact, GameStop is just a microcosm of the growing influence of retail investors in the US stock market.At the end of last year, after the outbreak of the Omicron virus, U.S. stocks fluctuated sharply for many days, and hedge funds sold quickly at the end of the year. However, U.S. retail investors vigorously bargain-hunting to \"protect the market\" and frantically bought stocks sold by Wall Street on dips, reproducing the market memory at the beginning of the year.According to the Wall Street Journal,U.S. retail investors have changed the trading strategy of some professional investors, especially when shorting a stock.An analysis report by technology and data analytics firm S3 Partners shows that investors are avoiding taking too much risk when it comes to shorting these days.S3 Partners closely tracks the activity of short sellers, and according to its head of predictive analytics Ihor Dusaniwsky's analysis of stocks with at least $10 million of shares being sold short,By the end of 2021, only seven stocks in the U.S. market had a total short-sold stake of 40% or more. This is down from 40 at the beginning of January 2020 and 19 in January 2021.Different from the past, in his analysis,No stock ended 2021 with 70% or more of a short sale share.Last year, S3 began offering new tools that tell clients which stocks have high short positions and which stocks may suddenly turn a loss when retail investors rush in.Dusaniwsky said:\"Every hedge fund manager is thinking, 'I don't want to be on the wrong side of the Meme stock game,' and making sure not to get hit by a bus is a full-time job.\" Social forums are increasingly being used for tradingMillions of Americans shunned active investing for much of the last 10 years, and in 2020 they became day traders due to social isolation amid the pandemic. Driven by volatile markets and mobile apps that can freely trade stocks, they flock to social networking sites for investment ideas.Wall Street News previously mentioned that U.S. institutions generally trade through exchanges such as the New York Stock Exchange and Nasdaq, while retail investors use brokerage apps such as Robinhood to trade outside the exchanges. As brokers turn to commission-free trading and more retail investors join U.S. stocks, the impact of retail investors on trading volume can be compared with the trading volume of places such as the New York Stock Exchange and Nasdaq with apps outside the exchange. Bloomberg data in early January last year showed that the latter traded more than the former for the first time since 2008.JPMorgan estimates that,In the past 18 months, retail investors in U.S. stocks have repeatedly accounted for more than one-third of daily trading activity, reaching nearly 40% on peak days.Their aggressive purchases of shares such as Hertz Global Holdings Inc. eventually paid off when the car rental company exited bankruptcy protection. At the time, Devin Ryan, head of financial technology research at JMP Securities (JPMorgan Securities), expectedMore than 10 million retail investors will open new stockbrokerage accounts in 2020.In 2021, this trend accelerated. JMP Securities Estimated,Another 15 million Americans signed up for stockbrokerage accounts in 2021. Social forums are increasingly being used for trading.Some retail investors took advantage of the growth in numbers to push stocks including GameStop and AMC Cinemas higher. Many retail investors are happy to let some hedge funds suffer huge losses and prove that traditional strategies are not the only way to win.In 2021, investments that seemed worthless on the books became valuable because retail investors declared them valuable. Data shows that funny cryptocurrencies like Dogecoin have skyrocketed by more than 1,900% in the past year. The NFT market, which is the market for digital images of items like bored ape avatars, has exploded.So far, retail investors are still fightingA year ago, market observers questioned whether \"retail grouping\" would continue. Now, many people are asking what will happen this year.Tony Pasquariello, head of global hedge funds at Goldman Sachs, previously wrote in his 2022 outlook:U.S. retail investors stole the show in 2021, and as inflows into U.S. stocks exceeded the previous 25 years combined, the extent to which this group is still fighting will be a major unresolved question in early 2022. Overall, one of the biggest unknowns of 2022 is simple: Where will the money go? According to data from VandaTrack, a subsidiary of research firm Vanda Research,U.S. retail investors bought a net $292 billion in U.S. stocks and ETFs in 2021, which is more than seven times that of 2019.So far,Retail investors appear poised to continue with similar levels of buying activity in 2022.Analysts expect U.S. stocks to have a bumpier year, with some fund managers believing retail investors could be squeezed out of the market if market volatility continues. Many say trading activity now resembles the late 1990s, when retail investors flocked to the stock market but fled when the dot-com bubble burst.So far, retail investors have shown a strong tolerance for volatile markets. VandaTrack data shows that,Last year, the group's eight most buying sessions in dollar terms occurred when the S&P 500 index fell 1.3% or more.Several academic papers have found that retail investors sometimes help stabilize markets, providing liquidity during market volatility.</body></html>","source":"highlight_wallstreetcn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Last year, he laughed at American retail investors for \"stupid people and more money\", but now institutions regard visiting forums as a compulsory course</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLast year, he laughed at American retail investors for \"stupid people and more money\", but now institutions regard visiting forums as a compulsory course\n</h2>\n<h4 class=\"meta\">\n\n华尔街见闻2022-01-17 19:46\n\n</h4>\n</header>\n<article>\n<html><head></head><body>Author: Wang MeiLast year, there was a \"war\" in the U.S. securities market in which retail investors \"grouped together\" to squeeze short institutions, which not only subverted the market, but also changed the investment pattern to a great extent-Fund managers who once laughed at retail investors in U.S. stocks as \"fool's money\" are looking for clues in social networking posts on where retail investors may turn next.According to a Bloomberg survey, about 85% of hedge funds and 42% of asset management managers are now tracking message boards for retail trading.JPMorgan Chase launched a new data product in September last year, which includes information on which stocks individual investors are likely to be buying and selling, as well as which sectors and stocks are being discussed on social forums. The bank said that about 50 customers are testing the product, including some of the largest asset management and quantitative fund managers. JPMorgan equity traders are also using the data product to help manage their own risks.The Wall Street Journal quoted Chris Berthe, global co-head of cash equity trading at JPMorgan, as saying:\"If you are a professional investor, you can't ignore the flow of money from retail investors. This is a whole new class of investors, and this investor class is actually grasping the right investment themes.\" Professional investors are beginning to avoid large shortingAt the beginning of last year, no one expected that the madness of retail investors would make the big short Citron surrender.The story began on January 19 last year, when Citron, a Wall Street short seller, released a message saying that the stock price of GameStop was only worth $20, claiming that those who bought the company's stock at that time were \"fools.\" Founded in 1984, GameStop is a chain game sales enterprise in the United States, specializing in video games and consumer electronics products. It has more than 6,000 retail stores in the United States, Canada, Europe, Australia and New Zealand. The company's stock price has been lackluster until 2020, but since January 13, 2020, the company's stock price has rapidly risen by nearly 50% to close to $40. After Citron Company released the news of short selling, it was unexpectedly attacked by retail investors on the popular \"investment\" section \"WSB\" of reddit website. Under the call of retail investor \"opinion leader\" Keith Gill, only 10% of the retail investors in the US stock market were unprecedentedly united, \"holding a group\" to do more game stations, setting off an unprecedented long-short war. The stock price of game stations also soared from $39.12 on January 20 last year to $347.51 on January 27. Under the crazy purchases of retail investors and other investors, the market value of GameStop has also soared from US $2 billion to more than US $24 billion, and the stock price has risen by 1,700% in less than a year. Finally, Citron Company surrendered. On January 29th, it stated on the social platform that the company would stop publishing short-selling reports, terminate this 20-year-old business, and focus on long-term investment opportunities in the future to explore potential stock opportunities for retail investors. At the same time, Melvin Capital, a Wall Street tens of billions star fund, also announced the liquidation of its short position in GameStop. The long-short war between Wall Street giants and American retail investors has temporarily come to an end. According to an estimate by an American data company, short-selling institutions lost about $19 billion in this showdown. In fact, GameStop is just a microcosm of the growing influence of retail investors in the US stock market.At the end of last year, after the outbreak of the Omicron virus, U.S. stocks fluctuated sharply for many days, and hedge funds sold quickly at the end of the year. However, U.S. retail investors vigorously bargain-hunting to \"protect the market\" and frantically bought stocks sold by Wall Street on dips, reproducing the market memory at the beginning of the year.According to the Wall Street Journal,U.S. retail investors have changed the trading strategy of some professional investors, especially when shorting a stock.An analysis report by technology and data analytics firm S3 Partners shows that investors are avoiding taking too much risk when it comes to shorting these days.S3 Partners closely tracks the activity of short sellers, and according to its head of predictive analytics Ihor Dusaniwsky's analysis of stocks with at least $10 million of shares being sold short,By the end of 2021, only seven stocks in the U.S. market had a total short-sold stake of 40% or more. This is down from 40 at the beginning of January 2020 and 19 in January 2021.Different from the past, in his analysis,No stock ended 2021 with 70% or more of a short sale share.Last year, S3 began offering new tools that tell clients which stocks have high short positions and which stocks may suddenly turn a loss when retail investors rush in.Dusaniwsky said:\"Every hedge fund manager is thinking, 'I don't want to be on the wrong side of the Meme stock game,' and making sure not to get hit by a bus is a full-time job.\" Social forums are increasingly being used for tradingMillions of Americans shunned active investing for much of the last 10 years, and in 2020 they became day traders due to social isolation amid the pandemic. Driven by volatile markets and mobile apps that can freely trade stocks, they flock to social networking sites for investment ideas.Wall Street News previously mentioned that U.S. institutions generally trade through exchanges such as the New York Stock Exchange and Nasdaq, while retail investors use brokerage apps such as Robinhood to trade outside the exchanges. As brokers turn to commission-free trading and more retail investors join U.S. stocks, the impact of retail investors on trading volume can be compared with the trading volume of places such as the New York Stock Exchange and Nasdaq with apps outside the exchange. Bloomberg data in early January last year showed that the latter traded more than the former for the first time since 2008.JPMorgan estimates that,In the past 18 months, retail investors in U.S. stocks have repeatedly accounted for more than one-third of daily trading activity, reaching nearly 40% on peak days.Their aggressive purchases of shares such as Hertz Global Holdings Inc. eventually paid off when the car rental company exited bankruptcy protection. At the time, Devin Ryan, head of financial technology research at JMP Securities (JPMorgan Securities), expectedMore than 10 million retail investors will open new stockbrokerage accounts in 2020.In 2021, this trend accelerated. JMP Securities Estimated,Another 15 million Americans signed up for stockbrokerage accounts in 2021. Social forums are increasingly being used for trading.Some retail investors took advantage of the growth in numbers to push stocks including GameStop and AMC Cinemas higher. Many retail investors are happy to let some hedge funds suffer huge losses and prove that traditional strategies are not the only way to win.In 2021, investments that seemed worthless on the books became valuable because retail investors declared them valuable. Data shows that funny cryptocurrencies like Dogecoin have skyrocketed by more than 1,900% in the past year. The NFT market, which is the market for digital images of items like bored ape avatars, has exploded.So far, retail investors are still fightingA year ago, market observers questioned whether \"retail grouping\" would continue. Now, many people are asking what will happen this year.Tony Pasquariello, head of global hedge funds at Goldman Sachs, previously wrote in his 2022 outlook:U.S. retail investors stole the show in 2021, and as inflows into U.S. stocks exceeded the previous 25 years combined, the extent to which this group is still fighting will be a major unresolved question in early 2022. Overall, one of the biggest unknowns of 2022 is simple: Where will the money go? According to data from VandaTrack, a subsidiary of research firm Vanda Research,U.S. retail investors bought a net $292 billion in U.S. stocks and ETFs in 2021, which is more than seven times that of 2019.So far,Retail investors appear poised to continue with similar levels of buying activity in 2022.Analysts expect U.S. stocks to have a bumpier year, with some fund managers believing retail investors could be squeezed out of the market if market volatility continues. Many say trading activity now resembles the late 1990s, when retail investors flocked to the stock market but fled when the dot-com bubble burst.So far, retail investors have shown a strong tolerance for volatile markets. VandaTrack data shows that,Last year, the group's eight most buying sessions in dollar terms occurred when the S&P 500 index fell 1.3% or more.Several academic papers have found that retail investors sometimes help stabilize markets, providing liquidity during market volatility.</body></html>\n<div class=\"bt-text\">\n\n\n source：<a href=\"https://wallstreetcn.com/articles/3649909\">华尔街见闻</a>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5af71bbd6192d9b63a935f2f641c8aa5","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3649909","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1126336580","content_text":"作者：王眉去年美国证券市场一场散户“抱团”逼空机构的“大战”，不仅颠覆了市场，也在很大程度上改变了投资格局——曾经嘲笑美股散户为“傻瓜钱”的基金经理们，正在社交网站帖子中寻找散户们下一步可能转向何处的线索。根据彭博的一项调查，大约85%的对冲基金和42%的资管经理现在都在跟踪散户交易的留言板。摩根大通在去年9月推出了一款新的数据产品，其中包括个人投资者可能在买卖哪些股票，以及社交论坛上正在讨论哪些行业和股票的信息。该行表示，约有50家客户正在测试这款产品，其中包括一些规模最大的资管和量化基金经理。摩根大通的股票交易员也在使用该数据产品来帮助管理自己的风险。华尔街日报援引摩根大通现金股票交易全球联席主管Chris Berthe表示：“如果你是一名专业投资者，就不能忽视来自散户的资金流。这是一个全新的投资者阶层，且这个投资者阶层实际上正在把握正确的投资主题。”专业投资者开始避免大规模做空去年初，谁也没想到，散户抱团的疯狂程度竟让大空头香橼都缴械投降。故事始于去年1月19日，当时华尔街空头机构香橼公司发布了一条消息，称游戏驿站公司（GameStop）的股价只值20美元，宣称当时买入该公司股票的都是“傻瓜”。游戏驿站成立于1984年，是美国的一家连锁游戏销售企业，专营电子游戏及消费性电子产品，旗下超过6000家零售店，遍布美国、加拿大、欧洲、澳大利亚和新西兰。这家公司的股价2020年前表现一直乏善可陈，但是从2020年1月13日开始，该公司股价快速上涨了近50%，接近40美元。在香橼公司发布做空消息后，不承想却遭遇了reddit网站高人气“投资”板块“WSB”上的散户们群起而攻，在散户“意见领袖”基思·吉尔的号召下，只占美股10%的散户空前团结，“抱团”做多游戏驿站，掀起史无前例的多空大战，游戏驿站股价也从去年1月20日的39.12美元，暴涨至1月27日的347.51美元。在散户等投资者的疯狂购买下，游戏驿站的市值也从20亿美元暴涨至240多亿美元，股价不到1年就上涨了1700%。终于，香橼公司缴械投降，1月29日其在社交平台上表示，该公司将停止发表做空报告，终止这项从事了20年的业务，今后专注于长线投资机会，为散户投资者发掘潜力股的机遇。与此同时，华尔街百亿明星基金梅尔文资本也宣布平仓游戏驿站的空头头寸，这场华尔街巨头与美国散户的多空大战暂告一段落。据一家美国数据公司估计，做空机构在此次对决中，损失约190亿美元。而事实上，游戏驿站只是美股市场上散户影响力日趋变大的一个缩影。去年底，在奥密克戎病毒爆出后，美股多日大幅震荡，对冲基金在年底快速卖出，但美股散户却大力抄底“护盘”，疯狂逢低买入华尔街抛售的股票，再现年初的市场记忆。据华尔街日报，美国散户投资者已经改变了一些专业投资者的交易策略，特别是在做空某只股票时。技术和数据分析公司S3 Partners的一份分析报告显示，如今投资者在做空方面都避免冒太大风险。S3 Partners密切跟踪卖空者的活动，根据其预测分析主管Ihor Dusaniwsky对至少有1000万美元股票被卖空的股票的分析，到2021年底，美国市场上只有7只股票的卖空股份总额达到或超过40%。这低于2020年1月初的40只和2021年1月的19只。与以往不同的是，在他的分析中，没有一只股票在2021年底有70%或以上的卖空份额。去年，S3 开始提供新工具，告诉客户哪些股票的空头头寸很高，以及哪些股票可能在散户投资者涌入时突然出现亏损。Dusaniwsky表示：“每个对冲基金经理都在想，‘我不想在Meme股票游戏中站在错误的一方’，确保不被公共汽车撞到是一份全职工作。”社交论坛越来越多地用于交易在过去10年的大部分时间里，数百万美国人回避积极投资，2020年由于疫情社交隔离，他们成为了日内交易者。在动荡的市场和可以自由交易股票的手机应用程序的带动下，他们蜂拥至社交网站上寻求投资点子。华尔街见闻此前提及，美国机构一般会通过纽交所以及纳斯达克等交易所进行交易，而散户则在交易所之外利用Robinhood等券商App进行交易。随着经纪商转向免佣金交易，更多散户投身美股，散户对交易量的影响，可以将纽交所和纳斯达克等地的交易量与交易所之外的App等进行比较。去年1月初的彭博数据显示，后者的交易量自2008年以来首次超过前者。摩根大通估计，在过去18个月中，美股散户投资者多次占每日交易活动的三分之一以上，峰值日达到近40%。他们大举买入赫兹租车公司(Hertz Global Holdings Inc.)等股票，最终在这家汽车租赁公司退出破产保护时获得了回报。当时，JMP Securities（摩根大通证券）金融技术研究主管Devin Ryan预计2020年将有超过1000万散户投资者开设新的股票经纪账户。2021年，这种趋势加速。JMP Securities 估计，2021年又有1500万美国人注册了股票经纪账户。社交论坛越来越多地用于交易。一些散户投资者利用人数增长的机会，将包括游戏驿站和AMC电影院在内的股票推高。许多散户乐于让一些对冲基金蒙受巨大损失，并证明传统的策略并不是唯一的获胜方式。在2021年，账面上看起来没有价值的投资变得有价值，因为散户们宣布它们有价值。有数据显示，像狗狗币这样的搞笑加密货币在过去一年中暴涨了1900%以上。NFT市场，即无聊猿化身等物品的数字图像市场，出现了爆炸式增长。目前为止，散户仍在战斗一年前，市场观察人士质疑“散户抱团”是否会继续，现在，许多人都在问，今年的情况会如何。高盛全球对冲基金主管帕斯夸里洛（Tony Pasquariello ）此前在2022年展望中写道：美国散户投资者在2021年抢尽了风头，由于这一年美股的资金流入超过了此前25年的总和，这群人在多大程度上仍在战斗，将是2022年初的一个主要未决问题。总的来说，2022年最大的未知数之一很简单：资金会去到哪里？根据研究机构Vanda Research旗下VandaTrack的数据，2021年美国散户净购买了 2920亿美元的美国股票和ETF，这是2019年的七倍多。到目前为止，散户投资者似乎准备在2022年继续保持类似水平的购买活动。分析师预计，美国股市今年的走势将更加坎坷，一些基金经理认为，如果市场持续波动，散户投资者可能会被挤出市场。许多人说，现在的交易活动类似于20世纪90年代末，当时散户蜂拥股市，但在互联网泡沫破灭时纷纷逃离。到目前为止，散户对动荡的市场表现出了很强的承受能力。VandaTrack数据显示，去年，该群体以美元计买入最多的八个交易日，发生在标普500指数下跌1.3%或更多时。几篇学术论文发现，散户投资者有时有助于稳定市场，在市场波动时提供流动性。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2388,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":1,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}