Fixed Income Products in a Zero-Rate Market
March 23, 2021 by John Ruth
It’s a relatively new thing in America that a large contingent of people publicly distrust those who create wealth. Yet, what started with Occupy Wall Street has culminated in a pitched battle where Wall Street, represented by hedge funds shorting GameStop, was roundly defeated by Main Street, represented by day traders taking the long position. These two watershed moments illustrate everything that is wrong in the investment world today: that two groups sharing the same interest, namely increasing their wealth, are doing battle with each other.
In an ideal world, Wall Street should win when the everyday investor wins. But too frequently, the everyday investor is a pawn in a much bigger game that only kingpins get to win. Therein lies the source of growing resentment, a belief that when Wall Street wins, Main Street loses. The little guy — often the middle-class worker — gets shorted. So, it’s unsurprising that regular people have lost their faith in the American wealth creation machine.
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