Interactive Brokers’ Founder Says S&P 500 Could Fall 16% Before Bottom

[ETJ]

https://www.bloomberg.com/news/arti...500-could-fall-16-before-bottom?sref=wgRWWeJL

 

[Overnight]

https://www.bloomberg.com/news/arti...500-could-fall-16-before-bottom?sref=wgRWWeJL

I think that the CEO of a trading firm should be disallowed to give a public opinion about where they think the market will go, because it just drives panic buying or selling, which drives their profits. And if he thinks the SP could drop 16%, then maybe he will juice up his overnight margins by 1,000 percent, to get everyone a margin call, so he gets his free money.

This is PURE market manipulation. BS.

 

[ktm]

16%? Why not 11% or 19%? Seems pretty specific.

I'm not worried until I see Peterfy's track record for predicting the future. I'm betting it's not a lot better than many folks here.

Remember, he made his money in picks and shovels - not calling tops and bottoms.

 

[mikeriley]

Mr Petterffy is in a position to know exactly
who's buying, selling, and on the sideline.

I can understand the full import and
value of this interview.

 

[Overnight]

Mr Petterffy is in a position to know exactly
who's buying, selling, and on the sideline.

I can understand the full import and
value of this interview.

Well, that is insider trading, is is not?!?

 

[Businessman]

Remember, he made his money in picks and shovels - not calling tops and bottoms.

I think he would have been a billionaire just from his Timberhill market making profits, without even creating the broker business. Obviously with the broker he is even richer, now worth $20+ billion.

 

[Aisone]

I think that the CEO of a trading firm should be disallowed to give a public opinion about where they think the market will go, because it just drives panic buying or selling, which drives their profits. And if he thinks the SP could drop 16%, then maybe he will juice up his overnight margins by 1,000 percent, to get everyone a margin call, so he gets his free money.

This is PURE market manipulation. BS.

Not only is it NOT going to drive panic selling or buying, but if the market drops over time, he loses business, not gains it. And his company's stock will drop as well, reducing his net worth. Overall the industry grows on the upside, not the downside. Does that mean he is still in a good position to make an insightful assessment like this? I think it does.

 

[Overnight]

Not only is it NOT going to drive panic selling or buying, but if the market drops over time, he loses business, not gains it. And his company's stock will drop as well, reducing his net worth. Overall the industry grows on the upside, not the downside. Does that mean he is still in a good position to make an insightful assessment like this? I think it does.

You must be young and uninformed. Petterfey is a BROKER.

 

[guest_trader_1]

And we all know what happens when this kind of news get promoted, exactly the opposite happens.

 

[M.W.]

Nonsense. Where was your outrage the past 50 years when company CEOs traded their own stocks and talk their books on Twitter, politicians became day traders, every analyst at investment banks publishes their bla? The absolute smallest damage is done by guys like Peterffy opening his mouth. Let's address the rampant insider trading of all the shady folks in corporates, the Fed, politicians before we move on to the smallest contributors.

I think that the CEO of a trading firm should be disallowed to give a public opinion about where they think the market will go, because it just drives panic buying or selling, which drives their profits. And if he thinks the SP could drop 16%, then maybe he will juice up his overnight margins by 1,000 percent, to get everyone a margin call, so he gets his free money.

This is PURE market manipulation. BS.