Macro Guru Raoul Pal Says Fresh GameStop-Led Meme Stock Frenzy Has Nothing To Do With Interest Rates: 'Clock Is Ticking On The 25-40-Year-Olds'
Macro Guru Raoul Pal Says Fresh GameStop-Led Meme Stock Frenzy Has Nothing To Do With Interest Rates: 'Clock Is Ticking On The 25-40-Year-Olds'
The meme stock frenzy reignited on Wall Street this week, fueled by the return of "Roaring Kitty," a key player in the 2021 surge. This resurgence sparked a discussion on the psychology driving these volatile investments, with economist and former hedge fund manager Raoul Pal offering his insights.
本周华尔街再次点燃了模因股狂潮，这得益于2021年股价飙升的关键人物 “咆哮的小猫” 的回归。这种复苏引发了关于推动这些波动性投资的心理学的讨论，经济学家和前对冲基金经理拉乌尔·帕尔发表了他的见解。
What Happened: A social media user took aim at traditional finance theories suggesting low interest rates caused the meme stock phenomenon surrounding GameStop Corp. (NYSE:GME).
发生了什么：一位社交媒体用户将目标对准了传统金融理论，这些理论认为低利率导致了围绕GameStop公司（纽约证券交易所代码：GME）的模因股现象。
"One of the funniest things is tradfi assigning the GME/meme phenomena to low interest rates. Well guess what...interest rates are at multi-decade highs and they running it back again lmao," the user said.
“最有趣的事情之一是 tradfi 将GME/MEME现象归因于低利率。好吧，猜猜怎么了... 利率处于数十年来的最高水平，而且又回升了哈哈，” 该用户说。
Pal agreed with this argument. "Yeah, its nothing to do with interest rates but the need for speculation to get ahead because of interest rates, debasement, jobs, etc," he said. "The clock is ticking on the 25 to 40 year olds..."
帕尔同意这个论点。“是的，这与利率无关，而是需要投机才能取得成功 因为 利率、贬值、就业等，” 他说。“25至40岁的孩子的时钟在滴答作响...”
Yeah, its nothing to do with interest rates but the need for speculation to get ahead because of interest rates, debasement, jobs, etc. The clock is ticking on the 25 to 40 year olds...
— Raoul Pal (@RaoulGMI) May 14, 2024
是的，这与利率无关，但由于利率、贬值、就业等，需要进行投机才能取得成功。25至40岁的年轻人的时钟在滴答作响...
— 拉乌尔·帕尔 (@RaoulGMI) 2024 年 5 月 14 日
Why It Matters: The Fed funds rate, a key benchmark impacting borrowing costs, currently sits at a 22-year high of 5.25%-5.50%.
为何重要：联邦基金利率是影响借贷成本的关键基准，目前处于22年来的最高水平，为5.25％-5.50％。
Pal's point resonates with the current economic climate. The post-pandemic period has brought significant uncertainty, with inflation rising and the Fed raising rates to combat it.
帕尔的观点与当前的经济环境产生了共鸣。后疫情时期带来了巨大的不确定性，通货膨胀率上升，美联储提高了利率以应对这种情况。
Companies struggling to grow revenue have resorted to layoffs, impacting personal finances.
努力增加收入的公司不得不裁员，这影响了个人财务。
Millennials, the first generation raised on the internet, are particularly affected by these financial anxieties. A 2023 Northwestern Mutual study revealed that 54% of respondents belonging to this category experience depression due to financial uncertainty, compared to 34% of the general population.
千禧一代是在互联网上长大的第一代，尤其受到这些财务焦虑的影响。2023年西北互惠的一项研究显示，该类别的受访者中有54％因财务不确定性而患有抑郁症，而普通人群的这一比例为34％。
New Meme Wave: Amidst this backdrop, meme stocks like GameStop and AMC Entertainment Holdings, Inc. (NYSE:AMC) have experienced a dramatic rise. So far this week, GameStop has gained 179% and AMC 135%, with trading halts interrupting the rallies.
新模因浪潮：在这种背景下，GameStop和AMC娱乐控股公司（纽约证券交易所代码：AMC）等模因股票大幅上涨。本周到目前为止，GameStop上涨了179％，AMC上涨了135％，交易暂停打断了涨势。
Before Monday, GameStop was down slightly for the year, while AMC was down a steeper 52%. The stocks closed Tuesday at $48.75 and $6.85, respectively, with whopping gains, according to data from Benzinga Pro.
周一之前，GameStop今年略有下跌，而AMC则下跌了52％。根据Benzinga Pro的数据，该股周二分别收于48.75美元和6.85美元，涨幅巨大。