Business
Rules can’t keep up with Reddit armies: Goldman CEO – The Australian Financial Review
Goldman Sachs CEO David Solomon says day traders and growth stock valuations are running ahead of themselves.
Mr Solomon said day-trading participation has ebbed and flowed over the years.
Ive been around long enough to know that there have been other periods of time where there was much broader retail participation in markets, he said citing the late 90s when mum and dad investors punted on internet stocks.
But Mr Solomon said this time was different because digitisation meant investors were rushing into the market at speed and scale.
The pace of digitisation is outstripping the pace of kind of rule making…
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