散户保证金炒股潮升温：Robinhood保证金余额同比增127%至216亿美元
Living with Mom and trading on margin. The regular investor gets in on Wall Street's record stock borrowing binge
Ordinary retail investors are increasing their margin borrowing to speculate in stocks: Robinhood's margin balance reached US$21.6 billion in the second quarter, a year-on-year increase of 127%; the total market margin debt was approximately US$1.5 trillion in June, a record high. Hy Luu, a Houston investor who lives with his mother, concentrated his Tesla holdings and used margin to expand his positions. At one time, he accumulated more than $100,000 in margin debt, and his net worth has exceeded $800,000. Fundstrat data shows that when monthly margin debt grew by more than 45% year-on-year since 1960, U.S. stocks fell five out of six times.
Retail margin debt is rising at an accelerated pace, indicating that U.S. stock risk appetite is at a high level, but historical data shows that such high growth rates are often accompanied by the risk of a market correction. For the gold and foreign exchange markets, attention needs to be paid to changes in risk aversion that may be triggered by fluctuations in U.S. stocks, as well as the transmission of tight U.S. dollar liquidity to non-U.S. currencies and precious metals.
原文将个人案例与 Robinhood、全市场保证金余额数据并列，并给出1960年以来保证金增速超45%后美股六次中有五次下跌的历史规律。
来源：CNBC Top News · cnbc.com