LK - The New Odd-Lot Indicator - Robinhood

Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows. - Jim Rogers

In the last week, we've seen a lot of headlines on how Robinhood traders have outperformed traditional hedge fund and money managers in the coronavirus drawdown and subsequent rally. I’m sure the $1,000 they made was really impressive, but for me, this is a warning sign that reminds me of the Odd-Lot Indicator. The theory posits that the small individual investor usually is wrong, and individual investors are more likely to generate odd-lot sales than