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Business Insider
2 days ago
- Business
- Business Insider
Meet 3 day-trading baby boomers who have been navigating the market for decades before the meme stock craze
The baby boomer generation wants the r/WallStreetBets crowd to know: they were here first. Baby boomers often get left out of conversations about retail investors, many of whom entered the market for the first time during meme stock mania in 2021. But there's a bustling group of 60+ year-old day traders who got into the market decades ago — and remain active — buying options and trading even as they sail into their retirement years. Business Insider spoke to three day traders over 60 who were still actively investing. The traders, all of whom have been in the market for more than 30 years, cited a handful of reasons they keep going: boredom, staying mentally sharp as they age, or simply wanting to pad out their retirement savings. They also shared some advice for younger people who are just starting their trading journey. The exec who came back from the dot-com crash Mark Lacy, a 67-year-old retiree, began day trading in 1994, in the days of dial-up internet. An exec in the telecommunications industry, he was investing with several brokers at the time, some of whom made bad bets and cost him thousands when the dot-com bubble ultimately popped. Frustrated, he joined an AOL chat room, which consisted of a "couple of guys sitting at home" and offering stock advice. Lacy had limited success at first, but eventually he hit his stride — and hasn't stopped since. Even though he's stopped working, Lacy starts his morning at 2 a.m. PT and immediately tunes into the premarket and latest coverage on CNBC. He'll eat breakfast while reading the Wall Street Journal and make a trading plan for the day. At 4 a.m., he begins executing trades and will go on for around six hours before enjoying his free time. Lacy says he looks for three things when he decides to trade a stock: Float, or how much of a stock is publicly traded How much inside ownership there is If a stock has something that could potentially drive its price higher, like corporate news or a long-term trend, like quantum computing. If a company has low float, high inside ownership, and a potential catalyst, it's one to trade, in his book. Lacy keeps going for a lot of different reasons. For one, he believes trading is a great mental exercise and helps keep him sharp. He also thinks it's a great hobby for older adults, given that they often have spare capital to deploy and are "more patient and more disciplined" than a younger trader might be. "The fact is I love the market," he said. "The downside is you spend a lot of time sitting in front of the computer, so you've got to make sure you're exercising in the other times." Over the years, his day trading profits have been enough for him to purchase a house, help his son start a business, get back on his feet after divorce, help himself and his wife become debt-free, and fund part of his kids' college education. Business Insider verified his trading activity with receipts from his brokerage account. Advice to Gen Z and millennials: "Be willing to learn, be willing to make mistakes, and be patient with yourself. That's really it," he said. The dentist-turned-trader Kenneth Schweitzer, a 68-year-old day trader based in Vermont, started dabbling in the market in the 1980s. He was in dental school at the time, and had several peers who were giving him stock tips. Intrigued, he tried playing the market, and ended up "losing everything," he told BI. Eventually, he leveled up his trading strategy, and after he became a partner at a dental practice, he traded throughout the workday, zipping back to his personal office to check the market in between seeing patients. Nowadays, he says he can expect to make a minimum of $300 a day trading and has a profit quota of around $1,200, equivalent to making as much as $36,000 a month. Business Insider verified his trading activity and daily income. Schweitzer says his strategy revolves around a stock's Relative Strength Index (RSI), a gauge that shows the momentum of a stock's price and can indicate whether a company is overbought or oversold. If a stock's RSI dips below 30, that's a signal for him that there could be upside momentum, and he begins to research the stock before purchasing and selling shares for short intervals throughout the day. Schweitzer is also aware that there aren't many day traders around his age, and says he occasionally gets comments from others who say he's gambling. Still, he sticks with it. It keeps him mentally on his toes, and while he's not worried about retirement, it's nice to have the extra assurance that he's still making income even after leaving dentistry. "This kind of fills the gap. But I'm not one to sit on a rocking chair and then have a beer and just look up at the sky. That's not my style," he said. It's also provided extra security for his family. Schweitzer also trades in a custodial account for his granddaughter, the account balance of which can now help fund most of her college education in the future, he says. "I think we could always use more money. I mean, that's kind of why I do it," he said. "You can sit down and trade and say, 'Okay, yeah, I made a thousand dollars today. I can do this. I can do that. And you just feel better about it," he said. Advice to Gen Z and millennials: Schweitzer has a few pieces of advice for younger traders out there: Find a risk management strategy that works for you. The right trading strategy differs from person to person, depending on how much risk they want to take on, how upset they'll be if they have a big loss, and if they have another source of income, Schweitzer says. Stay disciplined and trade regularly. But don't quit your day job. Schweitzer said he was assured by the fact that he had second-income from dentistry while he was trading. He's also dubious of millennials and Gen Zers who become full-time traders at an early age. "I enjoy trading, but it's not what I'm contributing to the world. Honestly, I couldn't see doing this for my entire life from age 21 because it really doesn't contribute anything to the world. And people need a purpose in life." The former floor trader Paul Kornreich, a 65-year-old day trader based in Florida, made over $300,000 in profits from day trading in the first quarter of 2025, according to brokerage statements seen by Business Insider. That's far more successful than the typical retail investor, 97% of whom are thought to lose money after trading for 300 days, one study found. "I am kind of living that trade dream," Kornreich told BI in an interview, adding that he used some of his day trading funds to travel and live abroad for years at a time. Kornreich got his start in markets shortly after graduating from college with a mathematics degree and launching his own commodities brokerage. Eventually, he began working as a commodities trader on an exchange floor, and from there, was "hooked." Kornreich had always yearned for a career on Wall Street. Paul Tudor Jones, the billionaire hedge fund manager, was his idol. "I was always good at playing games. So that's kind of how I got it," he told BI in an interview. "I wanted to go home and just trade." After the 1987 stock crash, Kornreich saw an opportunity and began to trade using his own money. At the time, the market was just starting to open up to everyday investors with the rise of discount brokerages like Charles Schwab. Kornreich is aware that his success as a day trader is rare. He attributes most of his success to his experience on the trading floor, describing himself as a fundamentalist and a long-term forecaster who frequently trades using technical analysis and jumping on key signals in the market, like when the VIX spikes. He continues to trade partly because he's bored by other hobbies aimed at older Americans. He takes his trading computer with him even on vacation and says he checks the market at nearly every hour of the day. "I love what I do," Kornreich said. "Even when I'm losing, I love it." Advice to Gen Z and millennials: Kornreich doesn't advise younger people to get into day trading. Despite his own success, he remains skeptical that younger generations can do it safely and navigate the big swings in the market without a background in finance. Referring to YouTubers and other influencers who sell online courses to help people make money trading, Kornreich had a bleak assessment of their chances: "It's just not going to happen."
Yahoo
4 days ago
- Entertainment
- Yahoo
The 1 Gen Z Phone Habit Everyone Should Steal
As a preteen, I couldn't resist the siren song of AIM, or AOL Instant Messenger. I'd hear that 'door opening' noise or a message notification and rush to my computer, eager to see if the sign-on was my best friend or my boyfriend, both who were equally tethered to AIM at the time. (Naturally, all of our screen names usually contained the name of the person we were 'dating' at the time ― NicksGirl4Eva88 was the height of romance in middle school in 2001.) When I got my own phone not long after, I downloaded my favorite songs to use as ringtones, just like every other teenager I knew. I was as eager as ever to receive texts. (Phone calls? Those not so much. It's true that millennials are phone call averse.) Now that I'm in my 30s with a full time job, the thrill is categorically gone. If anything, I'm loath to look at my phone: Group texts reach obscene numbers in a matter of minutes, Slack notifications from work stack up and ruin my flow state, and there always seems to be one or two texts from a friend that I've been meaning to get to, but still haven't yet. Color me surprised, then, to learn that a number of Gen Zers (and some millennials ― ones who are smarter than me) just leave their phones on 'Do Not Disturb' all day. Going on vibrate isn't enough anymore, it's DND 24/7. TIL that some Gen Z kids keep their cell phones on Do Not Disturb 24/7, so they never have to face the anxiety of answering the phone. — Max Burns (@themaxburns) February 12, 2024 On TikTok, videos tagged 'DND' and 'DND 24/7' show teens and 20-somethings sharing how peaceful and productive they've felt since changing their notification settings. To render your phone basically useless for the entire day is about as close to zen as I can imagine, but it also sounds weirdly frightening. But the way Gen Z sees it, it's their phone, their time and their prerogative if they need to set boundaries. 'When I'm trying to study for an upcoming exam, a new Snapchat notification or Instagram message can often send me into a downward spiral of scrolling through my social media accounts for several minutes,' said Madeline Kerestman, a 21-year-old pre-med student and social media influencer who goes on DND for chunks of the day. If you're busy working, a random alert hinders your progress more than you realize. A 2005 study out of the University of California at Irvine found that, on average, it takes around 23 minutes for most workers to get back on task after an interruption. It's not just her study flow state that Kerestman is trying to protect when she goes incommunicado, though. Like many on TikTok, Kerestman said using the feature is about 'protecting her peace.' More and more, she's trying to live in the moment rather than living for the dopamine rush of a new 'like' or comment. 'I constantly receive notifications from both TikTok and Instagram that notify me of new likes, comments, and followers,' she said. 'While I love this aspect of having a platform and being connected to others, it can really be stressful and distracting sometimes.' It's just a bonus that going on DND means dodging all the spam calls and texts the rest of us are getting hit by lately. It's pretty simple to go on DND. For Android users, swipe down from the Home screen to access the Notification Center, then swipe once more to expand the whole panel. Tap Do Not Disturb to toggle it on. If you have an iPhone, go to Settings > Focus > Do Not Disturb. Once there, you can set times where you want your phone to go on DND and specify a list of people who will be allowed to get through while all others are silenced. Gen Z clearly has a love-hate relationship with their phones. DND 24/7 is just more proof that Gen Z feels inundated by tech and wants to be more digitally minimalist in how they do things. In the last few years, some teens have gotten rid of their smartphones in favor of flip phones. On TiKTok, Gen Zers document what it's like to have a flip phone or share instructions on how to make an iPhone an app-lite 'dumb phone.' In 2022, The New York Times profiled the 'Luddite Group,' a bunch of New York City teens who read in Prospect Park with a strict 'no phone' rule. 'When I got my flip phone, things instantly changed,' one of the teens told the Times. 'I started using my brain. It made me observe myself as a person. I've been trying to write a book, too. It's like 12 pages now.' Chinedu Kenechukwu, a 24-year-old from Lagos, Nigeria, experiences phone wariness (and weariness) as well. 'I went on DND all day on most days last year,' she told HuffPost. 'I tend to be anxious sometimes, and incoming calls on my phone tend to increase that anxiety so I'd go on DND usually just to protect my peace.' These days, Kenechukwu doesn't have the function on, but she wouldn't hesitate to turn it back on during times of heightened stress. That's what it's there for. Lauren Larkin, a psychotherapist and founder of Lel Therapy, sees DND 24/7 as Gen Z's attempt to course-correct and renegotiate being Very Online and overly available. Instagram, BeReal and TikTok don't always need your attention. 'I could see Gen Z using DND as a tool to set boundaries,' she said. 'It helps create a sense of control over relationships that aren't serving them, either by being less accessible or having less access themselves to what others are doing.' For those with attention-deficit/hyperactivity disorder, the DND function and carving out one designated time a day to respond can be a real game-changer. Those with ADHD often struggle to respond to texts (along with phone calls and emails) due to symptoms like forgetfulness, being overwhelmed or distractibility. DND gives them the chance to respond only when they're ready. One caveat we should mention: Setting your phone to DND when you're bothered by your notifications or you're setting boundaries is one thing, but there could be times where DND could be a sign of some deeper anxiety. 'If getting calls or texts makes you have racing thoughts that are difficult to control, a faster heart rate, sweating, shaking, trouble sleeping, nausea, those could be signs of an anxiety disorder,' Larkin said. If you're isolating, sleeping all the time (or hardly at all), aren't enjoying what you used to enjoy, and are feeling generally hopeless and that's why you're shutting your phone onto DND, that could be a sign of a depressive disorder. 'It's all about the why behind the choice,' she said. 'It's good to be curious about that so you can understand if it's a coping mechanism for something bigger.' Older generations may struggle to go on DND 24/7. If you're used to 'always-on' urgency culture, DND 24/7 can be hard to process. The DND users we spoke to said they've received some blowback from frustrated friends and family who've been unable to reach them. Some people find the trend a little obnoxious; online, people joke about how satisfying it is to 'hit 'notify anyway' to a DND Warrior.' Older generations may wonder 'why even have a phone then?' or freak out about what would happen in case of an emergency. 'My mom will always say, 'You are on your phone constantly! Why can you not answer a text in five minutes or pick up a call right away?' Kerestman said. 'I think generations assume that Gen Z and millennials are glued to their phones,' she said. 'While this may be true to a degree, I don't think it means we should be expected to respond within two seconds or constantly be checking our social media accounts.' Emily Cooper, a therapist in Seattle, Washington, is a zillennial, the 'micro-generation' of people born between 1993 and 1998. (They're too old to be considered Gen Zers and too young to be millennials.) Personally, she loves the DND feature. She always just assumes if someone really needs to get in touch with her, they'll call her back or she'll get to them when she gets to them. Her mom, a young Boomer, has a much different relationship with her phone. 'My mom will answer the phone just to say she can't talk,' Cooper said. 'I'm like, 'Then just don't answer your phone then!' She has gotten better at it, but will still text me one of the canned responses of 'Can I call you back?'' Cooper said with a laugh. The therapist wonders if part of the generational difference can be chalked up to the fact that phone calls and catching someone on the phone was more of a rarity back in the day. 'For that generation, it was almost like a delicacy,' she said. 'You had to be home at the right time, able to afford long distance, whereas for me, it's always been available so I don't really value it as much.' 'I'd rather answer quick questions or check-ins with a text at my convenience, and if it's something more serious, I'd rather do it in person than a phone call,' she said. 'I also simply don't have that many people who call me anymore.' Preferences may vary along generation divides, but Cooper thinks everyone could benefit from putting a premium on phone-less time: Studies have shown that notifications from phones actually release cortisol ― the bodies' stress hormone ― and leave our brains on 'high alert.' Our nervous systems truly need time to recover from those pings and vibrations we receive all day. 'Plus, I don't think anyone should have access to us 24/7, and expecting that is a little ... unrealistic,' Cooper said. 'People have lives: kids, school, work, family, friends.' Cooper thinks the only people who need around-the-clock access are parents and kids, but even then you can set up DND settings so those calls will go through. 'I think that's a good middle ground,' she said. 'Overall, in my experience, it's been really nice to feel in control and be able to 'opt into' to social media and text conversations instead of feeling like they are all being thrust upon me.' Related... What To Do If Group Texts Are Stressing You Out People Who Deleted Their Social Media Share What It's Like What It Means If You're A 'Paragraph Texter' How To Stop Reaching For Your Phone Right When You Wake Up
Time of India
6 days ago
- Business
- Time of India
Popeyes' new summer sauce has a southern twist, plus a secret menu addition
Popeyes just dropped new summer menu items and fans are excited. They now have their first-ever Signature Sauce — something people have been asking for for years. The sauce is inspired by Southern flavors and Popeyes' New Orleans, NOLA roots. It's made using the 'holy trinity' of Cajun and Creole cooking: bell pepper, celery, and onion. There's also a kick of hot sauce in it — giving it that Louisiana spice. The Signature Sauce is now a permanent menu item, not just for summer. It comes in a new round dipping cup, made for serious dipping, as per the AOL report. Explore courses from Top Institutes in Select a Course Category Degree Project Management MBA Data Science CXO Technology Product Management Public Policy Leadership Finance Operations Management others Data Science Artificial Intelligence Cybersecurity Management Design Thinking MCA healthcare Digital Marketing Data Analytics PGDM Healthcare Others Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details ALSO READ: FDA approves Juul E-Cigarettes in U.S, ending 2022 ban and boosting vape market A sauce that took years to make Chef Amy Alarcon, Popeyes' VP of Culinary Innovation said they took 5 years to develop this sauce. She called it creamy, bold, and unique, something totally original to Popeyes. She also said it reflects their Cajun roots and Louisiana heritage. Along with the sauce, Popeyes also dropped Chicken Dippers, which are limited-time only, as per reports. New chicken dippers for summer These are thin strips of white chicken breast, hand-battered in Popeyes' Louisiana garlic and spice mix. Chicken Dippers are juicy, tasty, and cost $4.99 — great for a snack or road trip. Both the Signature Sauce and Chicken Dippers are available in stores and online across the U.S, as stated by AOL report. ALSO READ: Chief's Rashee Rice gets 30 days jail, NFL suspension likely after high-speed crash Live Events You can dip fries, Chicken Wraps, and even save some for Pickle-Brined Tenders at home. Popeyes came #2 in a recent Yelp ranking of best Southern chicken sandwiches — just behind Chick-fil-A. FAQs Q1. What is Popeyes' new Signature Sauce made of? Popeyes' Signature Sauce is made with bell pepper, celery, onion, and a touch of hot sauce for a Cajun-style flavor. Q2. Are Popeyes Chicken Dippers available everywhere? Yes, Chicken Dippers are available for a limited time at participating Popeyes locations in-store and online across the U.S.
Wall Street Journal
6 days ago
- Entertainment
- Wall Street Journal
‘Cloud' Review: Kiyoshi Kurosawa's Saga of Resale and Revenge
At the beginning of this century, in the era of AOL and the dot-com bubble, the Japanese filmmaker Kiyoshi Kurosawa directed 'Pulse,' an early, eerie entry in the annals of internet-minded cinema. It was a ghost story in which the virtual world existed as a sort of porous spiritual dimension for lost souls, and it saw in the internet a false promise of connection that, anticipating the alienating effects of social media, proved prescient. Now, more than two decades later, Mr. Kurosawa has made a film for today's web-weary age with the thriller 'Cloud.' The protagonist is Yoshii (Masaki Suda), who works at a factory while pursuing wealth on the side as an online reseller. We meet him inspecting a load of 'therapy devices,' potential stock for his web store, and giving the owner a lowball offer that is resignedly accepted. He loads them into his van, heads home, takes pictures of a device in his makeshift product-photography studio, and posts them for sale—more than two dozen at 200,000 yen (or about $1,300) each. They sell out in a matter of minutes. But it's the way he watches this that's telling: from a safe distance, sitting across the room from his monitor, not so much a computer user as an awed spectator, wary of something lashing out from the world within the screen.
GMA Network
16-07-2025
- Business
- GMA Network
Marcos gives 50% fare discounts to seniors, PWDs in MRT, LRT
President Ferdinand 'Bongbong' Marcos Jr. on Wednesday led the launch of the 50% fare discount for senior citizens and persons with disability in LRT-1, LRT-2, and MRT-3. The launch was held at the MRT-3 Santolan-Annapolis southbound station. This followed the launching of the 50% train fare discount for students last June, which aims to fulfill Marcos' directives to ease the financial burden of commuters. This project will increase the fare discount by 30% from the statutory discount of 20%.—AOL, GMA Integrated News
