Harris received his PhD in Economics from the University of Chicago, and is a CFA charterholder. He currently serves as lead independent director of Interactive Brokers (IBKR), director of the Selected Funds and research coordinator of the Q-Group. Professor Harris served as SEC chief economist from 2002-2004. He authored Trading and Exchanges: Market Microstructure for Practitioners, a widely regarded “must read” for entrants into the securities industry. His research, teaching and consulting address regulatory and practitioner issues in trading and investment management. Keenan Chair in Finance and is professor of finance and business economics at the USC Marshall School of Business. – Those wanting to learn how technology has transformed stock purchasing About Our Featured Faculty – Investors and financial professionals seeking insight on how the event will affect trading in the future – Those hoping to understand what occurred during the 2021 GameStop short squeeze Keenan Chair in Finance and professor of finance and business economics Lawrence Harris. Moderated by USC Marshall School of Business Fred V. The Wall Street Journal reported that, according to Dow Jones market data, more than 175 million shares of GameStop were traded on January 25, the second largest total in a single day, surpassing. Smith School of Business Terrance Odean, the Rudd Family Foundation Chair and professor of finance, UC Berkeley Haas School of Business Paul Brody, chief financial officer, treasurer, secretary and director, InteractiveBrokers and Feifei Li, partner, head of equities, Research Affiliates. Smith Chair in Finance and Distinguished University Professor, University of Maryland Robert H. ![]() The seminar addresses the price manipulation, the certain loss that many retail investors will face, the anger young traders have towards hedge funds, how brokers handled the episode, and its long-term impact on our capital markets and economy.įeaturing Albert “Pete” Kyle, Charles E. This makes sense in that short-selling increased in March when markets were crashing but the short trades needed to be covered quickly in the huge ‘everything rally’ that has ensued since.In this seminar, a panel of experts explain why prices and volumes in GameStop skyrocketed and how this extraordinary event will affect trading and the economy going forward. Most-shorted outperformed since MarchĪ trend that only a few have noticed since markets bottomed in March is that some of the ‘most shorted’ stocks have performed much better than the overall market. ![]() By working together they can move markets, just like trading syndicates used to do in commodities markets. The same savvy traders that have used a wave of unprecedented central bank liquidity to ride the market comeback since March that billionaire investors missed have now cottoned on to their collective power in the market. These included the likes of Tesla, Shopify and Zoom. Retail traders using online trading platforms and getting ideas from online forums have had some favoured stocks during the pandemic that have typically far out-performed the gains in stocks favoured by professional investors and hedge funds. However, when stocks have a high percentage of their float used by short-sellers, a short squeeze can often be a key part of the reason for why it has gone up so fast. Short-squeezes are often bandied around as a convenient explanation for fast moves in financial markets without an apparent news catalyst. Going a short is a stock is when an investor borrows the stock in order to sell it in a bearish bet, hoping to buy it back a lower price later and pocket the difference between the sell and buy price.
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