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'1st-time traders are buying the sh*ttiest stocks! Everyone is getting rich!'

14 July 2020 7:03 PM
Tags:
The Money Show
Bruce Whitfield
Elon Musk
Stock market
Paul Theron
Personal finance
investing
investments
tesla
Vestact Asset Management
Arabile Gumede
Robinhood Markets
day trading
day trader
first-time investor
stock trader

What is Robinhood? Why is Tesla booming? Arabile Gumede interviews Paul Theron, potty-mouthed MD of Vestact Asset Management.

Robinhood offers commission-free trading through its mobile app with a videogame-like interface.

It opened three-million new accounts in the first quarter of 2020.

Half of its new customers are first-time investors.

“These brand-new stock traders have been buying the shittiest, most beaten-down stocks they can find. And all of them have been going up! By a lot! Every day!” says Paul Theron, the potty-mouthed MD of Vestact Asset Management.

“Everyone is getting rich and having a great time.

“Cowabunga!” exclaims Theron with sarcasm dripping.

A word of warning from Theron: “A large body of historical, well-researched, empirical evidence confirms – day traders lose money!

“Those that start well get overconfident and then really blow out.”

Stock market moves over the short-term are, mostly, completely random, said Theron.

Arabile Gumede (in for Bruce Whitfield on The Money Show) interviewed Theron.

They spoke mostly about Tesla, but also a bit about Robinhood.

I’m a significant Tesla shareholder… Elon Musk is coining it! … There’s a bubble, potentially… Musk is crazy, but he’s built a great team… He’s an inspirational figure… The space programme stuff is sexy…

Paul Theron, MD - Vestact Asset Management

Governments are keen to ban internal combustion vehicles…

Paul Theron, MD - Vestact Asset Management

Tesla charges quietly – in countries that don’t have load shedding…

Paul Theron, MD - Vestact Asset Management

There’s a rabid group of short-sellers that hate Tesla…

Paul Theron, MD - Vestact Asset Management

The Robinhood phenomenon is relatively new… it’s a fun story to talk about, but it isn’t really the main market for these stocks.

Paul Theron, MD - Vestact Asset Management

I’m not a seller of Tesla stock I’ve been accumulating for years… I think it’s going higher. But I won’t be surprised if it goes lower first…

Paul Theron, MD - Vestact Asset Management

Listen to the interview in the audio below.

Watch Theron shoot from the hip in the video below:


14 July 2020 7:03 PM
Tags:
The Money Show
Bruce Whitfield
Elon Musk
Stock market
Paul Theron
Personal finance
investing
investments
tesla
Vestact Asset Management
Arabile Gumede
Robinhood Markets
day trading
day trader
first-time investor
stock trader

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