More exciting things are happening in the market than Nvidia (NVDA) stock going up almost every day.
Seasoned trader on the New York Stock Exchange (NYSE) and co-founder of Global Wall Street Trading Academy Peter Tuchman called the bull market in stocks, which has brought 40 million new retail investors into the market in recent years, very “exciting.”
As a result of this influx, household net worth remains on the rise.
U.S. household wealth hit a record high of more than $160 trillion in the first quarter, according to the latest data from the Federal Reserve. During this period, household net worth increased by 3.2%, or $5.1 trillion, with stock price appreciation accounting for $3.8 trillion of that gain.
“We are at a crossroads,” Tuchman said on Yahoo Finance. Opening offer podcast (see video above or Listen now). “We are living in extraordinary times and history.”
These new retail investors have expanded their exposure beyond popular meme names such as GameStop (GME) and AMC (AMC), which have dominated Robinhood (HOOD) trading accounts in 2021.
The last Robinhood Investor Indexwhich tracks the performance of the 100 most-held investments on the trading platform, shows that retail investors have gravitated toward companies they understand and that impact their daily lives, like Apple (AAPL) and Microsoft (MSFT ).
And yes, Nvidia.
Making investing more accessible to more people is a good thing to see, Tuchman added.
“All those barriers to entry that were really high and made this place very exclusive, those days are gone,” he said. “I think it’s a really good thing. Suddenly everyone was invited to this party.
Tuchman has traded with many market participants over the decades. He’s known for his iconic images taken of him on the NYSE trading floor, and his wild hairstyles and savvy ways have earned him the nickname “Wall Street’s Einstein,” for good reason.
His resume includes tending the velvet ropes and being Mr. “No” outside the door of Studio 54, owning a jazz record store and working at a jazz club.
“My approach to the market was different from a normal person analyzing the market,” he said.
In the mid-1980s, he took a summer job as a stock ticker and eventually worked his way up to broker.
“The energy, the adrenaline, for me, as soon as I stepped on the floor I knew it was for me,” he reflected.
Tuchman’s career coincided with many significant bearish events, including Black Monday, 9/11, and the Great Recession. “You saw people losing their future,” he said. “But I also saw the capacity and resilience of human beings in the workplace. »
Last week, the markets showed a lot of resilience, energy and adrenaline…
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