Michael Hudson: Average Stock Held for 22 Seconds and Average Foreign Currency Position Held for 30 Seconds
Michael Hudson is a highly-regarded economist. He is a Distinguished
Research Professor at the University of Missouri, Kansas City, who has
advised the U.S., Canadian, Mexican and Latvian governments as well as
the United Nations Institute for Training and Research. He is a
former Wall Street economist at Chase Manhattan Bank who also helped
establish the world’s first sovereign debt fund.
Yesterday, Hudson said:
Take any stock in the United States. The average time in which you hold a stock is--it's gone up from 20 seconds to 22 seconds
in the last year. Most trades are computerized. Most trades are
short-term. The average foreign currency investment lasts--it's up now
to 30 seconds, up from 28 seconds last month.