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Thursday, October 15, 2020
Cole Smead, president of Smead Capital Management,
explaining in a CNBC interview on Thursday how "young, dumb"
investors have created a "total nightmare" in the current
climate. "They are buying bullish call options
that expire inside two weeks. There was ($500 billion) of bullish call options
bought in a four-week stretch by small retail traders," Smead said.
"In '99 it was $100 billion, in '07, it was $100 billion."