Small investors with stimulus funds drive a post-coronavirus surge

Published

4 years ago

June 11, 2020

Small investors with stimulus funds drive a post-coronavirus surge

Moving on the hedge fund titans, Joe Sixpack took over the stock market.

The recent rally, which has pushed the Dow up 45 percent from its lows in the corona virus, was driven in large part by massive investors because of stimulus checks, free trade increases and applications such as Robinhood, experts said.

The Dow closed Wednesday at 26,989.99 – just 5.4 percent below where it was at the start of the year before the coronavirus sent the economy into a gap. The rebound has made many stock market pros off guard amid record unemployment and declining corporate profits, including hedge fund founder Paul Tudor Jones, who said on Tuesday that he was confused by the rally.

But in a recent note to clients, Deutsche Bank analyst Parag Thatte concluded that small investors had supported many recent purchases by superimposing Robinhood trading application data on general market activity. The result, he said, is the so-called smart money traders “now chasing” traders today.

Anthony Denier, from the online trading platform Webull Financial, agrees. Volume on the platform jumped by almost 500 percent between February and May, with the average user flipping their portfolio around 75 percent a day, he said.

“This is the perfect storm,” Denier told The Post. “We are all at home. Some people make bread, and some say,” Hey, how can I make the stock market work for me? “And with the Fed [pumping money] to the market, they think ‘How can I lose?’

“Many new investors see this environment as an opportunity to enter the market,” Schwab’s spokeswoman added about the broker’s user data for April.

People on Wall Street like to blame Robinhood, a trading application popular with millennials that has been credited with the rise of trade at no cost. Robinhood said it saw a 30 percent surge in users this year, to 13 million, despite embarrassing outages in the early days of the pandemic, when volumes exceeded its servers.

“I have seen some friends plow through Robinhood or similar applications,” said a hedge fund manager. “There is no financial background, feeling like genius that they are so numerous in the past few months.”

To be sure, the mom-and-pop revolution has produced some strange trading patterns, including a surge of 1,250 percent in the less well-known Chinese online real-estate company on Tuesday. The reason cited on social media is its name, FANGDD Network, which resembles the FANG code for tech giants Facebook, Amazon, Netflix, and Google.

Also helping to drive the retail boom was Dave Portnoy, founder of millionaire Barstool Sports, who had traded a day without sports and who posted videos full of expletives about his victories and losses.

“I’m a new type. I’m a new generation,” Portnoy boasted in the video on Monday. “Nobody can argue that Warren Buffett is better in the stock market than I am at the moment. I’m better than him. That’s a fact.”

Goodwin Townsend

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Portuguese historical films will premiere on 29 December.

Published

1 year ago

December 20, 2022

Herb Adkins

Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets Ptix.bm For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

“Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Herb Adkins

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CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS ‘There will be room’

Published

1 year ago

December 20, 2022

Herb Adkins

CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS 'There will be room'

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Herb Adkins

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Published

1 year ago

December 19, 2022

Herb Adkins

Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

Herb Adkins

Proud web evangelist. Travel ninja. Creator. Freelance food nerd. Passionate bacon fanatic.