Can Day Trading Cause Financial Ruin?

On a recent Price of Business show, Host Kevin Price visited with Michele Wucker, the author of an international best selling book. They discussed it on a recent Price of Business show.

The COVID-19 pandemic caused wide-ranging and drastic impacts on the global financial markets.  In spite of market volatility, scores of amatuer investors have taken to day trading through online brokerages with hopes of making their fortune.  While these commission-free brokerages deliver greater accessibility to novice traders, Michele Wucker, Best-Selling Author of THE GRAY RHINO: How to Recognize and Act on the Obvious Dangers We Ignore, says they also come with tremendous risk.

According to a statement from the publisher “Michele Wucker coined the term ‘gray rhino’ to draw attention to the obvious risks that are neglected despite – indeed, often because of- their size and likelihood. The metaphor has moved markets, shaped financial policies, and made headlines around the world. Michele’s 2019 TED Talk has attracted more than two million views. She is the author of three books including the international bestseller THE GRAY RHINO: How to Recognize and Act on the Obvious Dangers We Ignore (St Martin’s Press, 2016). which China’s leadership has used to frame and communicate its crackdown on financial risk. Michele is founder of the Chicago-based strategy firm Gray Rhino & Company. She has been honored as a 2009 Young Global Leader of the World Economic Forum and a 2007 Guggenheim Fellow.

“Michele also is the author of LOCKOUT: Why America Keeps Getting Immigration Wrong When Our Prosperity Depends on Getting It Right (PublicAffairs, 2006/7) and WHY THE COCKS FIGHT: Dominicans, Haitians, and the Struggle for Hispaniola (Hill & Wang, 1999/2000).

“Her previous positions include Vice President for Studies at The Chicago Council on Global Affairs; President of the World Policy Institute; and Latin America Bureau Chief at International Financing Review. Her writing has appeared in publications around the world including CNN.com, The New York Times, The Washington Post, and The Wall Street Journal. She has been interviewed by many media including National Public Radio, CNN, CNBC, MSNBC, and Fox News.”