Market Mover Comprare azioni a questi livelli è un suicidio?
Jul 23, 2025
Vito Lops, a journalist from the Finanzen at Sole 24 Ore, shares insights on the concept of risk premium and its vital role in guiding investment decisions. He discusses the recent surge in stock prices fueled by retail investors and whether it's wise to jump in now. The conversation touches on investor behavior amid volatility, with the VIX index highlighting market fears. Lops also addresses the current dynamics of the cryptocurrency regulatory landscape, comparing U.S. and EU approaches, making for a thought-provoking discussion on investment strategies.
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No Risk Premium Now
- The risk premium is the difference between the stock market yield and Treasury bonds yield.
- Currently, the stock market offers no premium over bonds, making stocks expensive relative to historical norms.
Volatility Drives Automatic Buying
- Some funds must keep buying stocks as volatility (VIX) remains low.
- This buying pressure can continue until mid-August unless volatility spikes over 20 points.
Sector Trends in Summer
- Summer traditionally favors sectors that performed well in the first half, like tech and defense.
- Defensive sectors like utilities, healthcare, and consumer staples act as bond proxies for stability.