'Bond King' Jeffrey Gundlach says the day-trading boom is 'downright terrifying' - Business Insider

Hedge fund billionaire Jeffrey Gundlach is sounding the alarm on a "downright terrifying" boom in day-trading and retail investor activity.in a webcast Tuesday as saying: "of course, retail investor activity is downright terrifying."

He said an increase in trades-per-account on online brokerage platforms was worrying. "We just see how much trading is going on in retail," Gundlach said. 4.31 million daily average revenues trades in JuneCharles Schwab, Interactive Brokers, Etrade and TD Ameritrade all surged in popularity in recent months. Robinhood has added more than 3 million accounts in 2020 so far.

Gundlach said the government's stimulus measures have aided a rise in day-trading. While the measures helped many struggling Americans ride out the pandemic, for others it provided a dangerous route to the stock market, he said. "It looks like people are kind of re-gifting the candy the con has given them ... they are throwing that candy into this retail investment fervor," he said.

He added: "This is a terrible sign for the condition of the market for anybody who's experienced a significant number of cycles, which I've definitely experienced."

This guy is cleaning up from a Fed policy that should be much more concerning. Boo hoo Cassandra.

I heard the same thing since the mid-90s. Hoo hoo Cassandra

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