Intraday Data provided by FACTSET and subject to terms of use. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. Copyright © 2020 MarketWatch, Inc. All rights reserved. Mark Hulbert Opinion: Here’s the shocking truth about Robinhood investors vs. Wall Street stock pros Published: Sept. 29, 2020 at 6:55 a.m. Call it the revenge of the small investor. That is, if stock ABC was owned in twice as many Robinhood accounts as stock XYZ, then this hypothetical portfolio invested twice as much in ABC than in XYZ.
Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. Market Data Center on The Wall Street Journal. But just released academic research finds that, as a group, they’ve outperformed the market. -0.80% Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time.

By using this site you agree to the Sources: FactSet, Dow Jones, Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings.

The algorithm keys off stocks’ trading volume, since Robinhood investors tend to favor stocks with lots of trading volume. Historical and current end-of-day data provided by FACTSET. Keep that in mind the next time you hear a Wall Street guru insist that small investors who frequent platforms such as Robinhood don’t know what they’re talking about. To put these small retail investors’ achievement in perspective, consider the data compiled by S&P Dow Jones Indices on the performance of actively-managed mutual funds. The National Bureau of Economic Research recently began circulating it in academic circles. Market Data Center on The Wall Street Journal. Subscriber Agreement & Terms of Use, ET

For months now, small retail investors have been ridiculed by Wall Street professionals for being hyperactive traders — addicted to risk and hopelessly irrational. Over the three years studied, this hypothetical portfolio beat the market (as represented by benchmarks such as the S&P 500 Follow the latest Wall Street Journal news on stock markets, finance, banks, hedge funds and private equity, with quotes for stocks, stock indexes and ETFs. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

He can be reached at mark@hulbertratings.com, Plus: How to get your stock trades through when Robinhood, Vanguard and other brokerages go down, as they did this week, More: How the little guy Is fueling the stock market’s wild ride.

Copyright 2019© FactSet Research Systems Inc. All rights reserved. To test for that possibility, Welch told me in an interview, he constructed an algorithm that was able to do a decent job replicating the actual composition of his Robinhood portfolio between 2018 and 2020. Virgin Galactic gets two more buy ratings as Wall Street remains unanimous on space tourism stock. That author of that earlier study found that “Robinhood investors have been buying riskier stocks, but have also been performing slightly better than the market.”, I note that Robinhood in August stopped making updated data available that would enable the kind of research that was conducted by Welch.

All rights reserved. In backtesting back to 1980, Welch found that the portfolio constructed by this algorithm held its own against the overall market, and actually came out ahead according to some performance evaluation tests. Intraday data delayed at least 15 minutes or per exchange requirements. For the study, Welch obtained data reflecting all trades over the three-year period from mid-2018 to August 2020 at Robinhood, the online retail brokerage firm. Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. You might wonder if the three-year performance of Welch’s hypothetical Robinhood portfolio is not as impressive as it otherwise appears — a one-time fluke. It’s hard to square Welch’s results with the narrative that the small retail investors on the Robinhood site are a pure expression of irrational exuberance. His Hulbert Ratings service tracks investment newsletters that pay a flat fee to be audited.

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Data are provided 'as is' for informational purposes only and are not intended for trading purposes. Yes, you read that right. (The data was collected, with Robinhood’s tacit blessing, by the website Robintrack.com.). Fundamental company data and analyst estimates provided by FactSet. Dow Jones, a News Corp company News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services


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