The world is going through massive instability thanks to the pandemic. Consumer spending as a response varies wildly especially in terms of demographics. Among age groups one thing is abundantly clear: Old people are running to gold and young people are running to Bitcoin..
Strategists led by Nikolaos Panigirtzoglou said that millennials are embracing tech stocks, while older individuals are selling equities.
“The older cohorts continued to deploy their excess liquidity into bond funds, the buying of which remained strong during both June and July,” he wrote in a note that analyzes investment flows.
Retail investor demand is seen with a 46% jump in stocks from March lows, the surge in cryptocurrencies and gold-back exchange-traded funds.
Young, amateur traders have been getting involved in a variety of things such as smoothed trading action to exuberant options. Interestingly, their stock picks adn marketing timing are doing quite well as compared to institutions.