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‘You Can’t Win If You Don’t Play!’ Lottery Tickets And A Mania Postmortem
On the off chance you had any lingering doubts, a breakdown of equity buyers (by month) since the March panic nadir shows that "new retail" and options activity were prevalent during the latter stages of the summer melt-up.
In the wake of the tech correction, the market narrative revolved around the impact of speculative call-buying on the part of the Robinhood set and a massive upside premium buyer who turned out to be Masayoshi Son. There's considerable debate about who mattered more when it
I can recall numerous incidences of single name stocks/groups doing this over the years …These ,however, are highly liquid , overvalued Mega-caps and that seems to be the difference … In the past instances the tendency has been that everyone seems to let go simultaneously but that may seem unlikely this case… The key maybe be what Charlie (M) focus’ on and that is the Gamma hedging….
They have learned a thing or two since Hertz.
What’s that other old saying??? You can’t lose if you don’t play?