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How Retail Traders Lose Big While Enriching Wall Street
2024/7/17
Money For the Rest of Us
D
David Stein
我观察到，越来越多的美国人参与股票市场投资，这其中也包含了相当一部分的赌博心态。许多人，特别是散户交易者，他们往往基于直觉而非理性分析进行交易，追求短期高回报，却忽略了高风险和高交易成本。他们频繁交易，特别是那些短期期权，导致大量的亏损，而这些亏损最终流向了券商和做市商，使得华尔街获利。虽然散户交易者的交易活动增加了市场流动性，这在一定程度上促进了知情交易者的获利，但这并不能弥补散户交易者整体上的亏损。长远来看，这种赌博式的投资行为并不可取，投资者应该关注长期投资，并采用合理的风险管理策略，才能获得稳定的收益。
Deep Dive
The rise of stock market gambling among retail investors has become a significant trend. A study by University of Miami professor Alok Kumar estimates that stock market gambling is about three times larger than traditional forms of gambling, making up 14% of stock market volume in developed countries and a third in emerging markets. This gambling is driven by factors such as higher income, greater GDP per capita, and income inequality.
- Stock market gambling is estimated to be three times larger than traditional gambling.
- It makes up 14% of stock market volume in developed countries and a third in emerging markets.
- Higher income, GDP per capita, and income inequality correlate with increased stock market gambling.
Shownotes Transcript