Gunjan Banerji

@GunjanJS52k followers

Writing about money and investing at @WSJ, Contributor @CNBC. Dancer. New Yorker. Reach me at gunjan.banerji@wsj.com On instagram @ gunjansb. Views are my own.

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1Feb 5, '23NEW: 25-year-old day trader Omar Ghias amassed **$1.5 million** during the pandemic stock market boom He lost it all, and is now working at a deli in Las Vegas, making $14 + tips w217×2.3M4.6k740752
2Oct 2, '23Bofa has a chart of rates going back to **3000 B.C.** Says rates are coming off "5000-year lows"176×1.9M2.3k445492
3May 29, '23Blackjack players lost nearly $1 billion to casinos in Vegas last year --the second-highest loss on record after 2007 --Nevada Gaming Control Board84.9×905k1.4k188142
4Dec 11, '23Options selling is booming like never before Assets in derivative income funds jumped to a record **64 billion**--that's a 50% jump from last year and the highest level in records 59.1×630k867179202
5Oct 12, '24GDP grew 7.6% over Trump’s four years in office. It has grown 11.8% so far during Biden’s tenure At this point, it looks as if GDP under Biden will post the strongest growth of a p47.3×504k5.7k2.2k500
6Aug 19, '23Kroger is now the biggest sushi seller in America--its sushi sales are up **70%** over the past year “When customers think of sushi, we want them to think of Kroger" @_jaewonkang37.5×400k4007219
7Dec 31, '22One of the coolest parts of 2022 was seeing @WSJ reporting on GME come to life in the @netflix doc EAT THE RICH Big thank you to everyone who watched and shared their feedback🙏34.5×368k3791425
8Aug 11, '25This bull market is built differently. A new generation of "buy the dip" investors, who were told to fear crashes but instead learned to love vol, is propping it up These bullish i31.3×334k1.7k115325
9Dec 23, '22"As painful as 2022 has been for investors, it can get a lot worse" - @bespokeinvest The S&P 500's bear markets over the past century30.7×328k1.2k310223
10Jan 22, '23Individual investors have been doubling down on Tesla stock They have spent more money on TSLA in the past six months than in the 5 years prior—in Jan, net purchases hit a one-day 28.6×305k61510439
11Oct 15, '24A PM just said to me: "Tesla stock could fall 80% and we would still not buy it. If it fell 90%, we'd do some work on it."26.4×281k7874892
12May 8, '23The Nasdaq Composite entered a new bull market today, up 20% from its low It was in a bear for 143 trading days, the longest bear market since **2008** --Dow Jones Market Data24.7×264k58711537
13Sep 26, '23Thrilled that WSJ's first Netflix documentary, EAT THE RICH, has been nominated for an Emmy award in the business and documentary category Such a fun project to work on with the @W24.1×257k3684234
14May 21, '23JPM now has more than 13% of the nation’s deposits and 21% of all credit card spending That’s a bigger share than any other bank, and it keeps growing @DaveCBenoit23.8×254k59619968
15Mar 15, '23ARKK recorded a $397 million inflow on Tuesday alone--the single largest single-day inflow since April 2021 @WSJmarkets23.7×253k2786117
16Apr 3, '23Around 17% of people who bought new cars this year have an auto loan payment of $1000 or more--the highest share **on record** @WSJmarkets @BenEisen21.5×229k38712115
17Jun 20, '24Where did all the bears go? Short interest tied to SPY and QQQ is hovering at the lowest levels since at least 2018 ---JPM20.5×218k48413677
18May 19, '23Where all the money has gone this year --Goldman20.2×216k51414262
19Dec 26, '23SPY has drawn around $40 billion in inflows in December, on track for the biggest monthly haul since it began trading in *1993*18.7×199k43213364
20Jan 27, '23The Nasdaq Comp is up 10.6% this month, on pace for its best start to the year since **2001**--Dow Jones Market Data18.3×195k4306719
21Sep 24, '25Bank of America: “The S&P 500 trades like it’s the new risk-free rate… Perhaps we should anchor to today’s multiples as the new normal rather than expecting mean reversion to a18.2×194k65167120
22Mar 11, '24India accounted for a staggering 78% of equity options contracts traded worldwide in 2023 @MeghaMandavia @WSJheard17.8×190k50513197
23Jan 20, '23I asked @WallStCynic and @GerberKawasaki what would make them change their stance on Tesla. Chanos: “I think if we saw earnings re-accelerate, we would rethink our position” Gerber15.5×165k291208
24Jun 26, '23Implied correlation for S&P 500 stocks has fallen to close to a record low --DB15.4×164k3517347
25Nov 8, '23Short interest in the ~Magnificent Seven~ is at an all time low --BofA14.9×159k55014348
26Apr 8, '2510-year yields are now **above** where they were ahead of Liberation Day At 4.226% this morning14.5×155k6139845
27Dec 20, '22Is the “Santa Claus Rally” starting?13.7×146k311103
28Oct 21, '25Goldman: "We don’t think the AI investment boom is too big. At just under 1% of GDP, the level of spending remains well below the 2-5% peaks of past general purpose technology buil12.7×135k1.5k294607
29May 25, '23NVDA is up 30% premarket and on track to gain more than $200 billion in market value, would be the largest one-day gain for any company **on record** --Dow Jones Market Data12.5×133k2596116
30Jul 10, '23"Only 23% of stocks outperformed the S&P 500 in May, the lowest of any month in our data history since 1986" --bofa12×127k49312166
31Dec 27, '22Tesla is no longer one of the 10 biggest companies in the U.S. by market cap after its 11% slide today--Dow Jones Market Data11.9×127k269324
32Jul 28, '23"If we consider the 8 hiking cycles which ended in recession, the typical gap between the start of Fed hikes and the onset of recession was just over 2 years" --Deutsche Bank11.6×124k43112797
33Oct 10, '25Fidelity's retail investors overwhelmingly buying the dip in NVDA, S&P 500, big tech11×118k3824459
34Feb 21, '23U.S. credit default spreads reached their highest levels since the 2011 debt limit episode --Goldman10.9×116k40512144
35May 5, '23Apple's buyback program is equal to 3.4% of its market cap and is larger than the *total market cap* of 420 constituents of the S&P 500 -- @bespokeinvest10.8×115k4957821
36Apr 9, '25Hard to sleep when the 10-year yield is going crazy like this10.6×113k1.5k8547
37Feb 6, '23My first @WSJ Exchange weekend cover10.2×109k486329
38Mar 3, '23Individual investors have spent a net $13.6 billion on TSLA shares in 2023, approaching the record sum of nearly $17 billion for **all of last year** “The aggregate retail inflows 10.2×108k2796120
39Jul 11, '24The Russell 2000 outperformed the Nasdaq by **5.5 percentage points** --largest spread on record10×107k4187750
41Apr 17, '24The equity risk premium on the S&P 500--the gap between the earnings yield and that of 10-year Treasurys--has hit a 22 year low9.2×98k3308159
42Feb 25, '24Traders spent $20 BILLION in options on Nvidia over the last week—more than the other six stocks in Mag 7 **combined**9.2×98k3277337
43Jun 16, '24Pensions piled into private equity. Now they can't get out Nearly half of PE investors surveyed by Coller Capital earlier this year said they had money tied up in zombie funds—PE f8.8×93k3588267
44May 12, '23You can thank AI for the stock-market gains this year Without AI-related stocks, the S&P 500 would be down 2% this year, not up 8% --SocGen8.7×93k3167126
45May 6, '23Warren Buffett is asked about Berkshire’s concentration in Apple stock: “Apple is a better business than any we own”8.4×90k301436
46Dec 19, '23Investors haven't been this bullish on bonds in 15 years --according to the BofA fund manager survey8.4×89k3629454
47Sep 15, '23Where investors have put their cash this year (hint: not stocks) via Goldman8.2×88k3188229
48Feb 27, '24One out of every three companies in the Russell 2000 index is unprofitable --BofA8.2×87k2777543
49Jun 25, '20"Looking across categories of card spending, we find that the level of spending in restaurants three weeks ago was the strongest predictor of the rise in new virus cases over the s7.8×01.2k64791
50Aug 18, '25I think a lot of people still think of 2021 as the peak in speculative activity in markets A look under the hood shows that things have only gotten crazier since, and people are em7.3×78k3554668
51Feb 28, '24"The S&P 500 is statistically expensive on 19 of 20 metrics and is trading at a 95th percentile price to trailing earnings ratio based on data back to 1900" --BofA6.9×74k3276852
52Apr 23, '25The 19 richest U.S. households saw a $1 trillion wealth increase in 2024, a rise that exceeds the size of Switzerland’s economy @WSJmarkets6.8×72k2895856
53Jul 22, '25Top retail buys at Interactive Brokers6.8×72k3443660
54Jan 28, '25Many individual investors bought the dip in NVDA and other AI stocks Buy vs. sell orders on Fidelity today6.7×72k2902937
55Jun 21, '24"Net call volumes in [mega-cap growth] & Tech surged this week to record highs, going above even pandemic boom levels, and completely disconnecting from those in the rest of th6.6×71k2558556
56Sep 29, '22U.S. pension plans are also facing margin calls Pensions managed by consulting firm and insurance brokerage Willis Towers Watson have posted tens of millions of dollars in collater6.6×01.3k385129
57Jul 16, '22Equity futures positioning for asset managers and leveraged funds is now the **most short** on RECORD -DB6.5×01.3k334132
58Feb 24, '22The last time the Nasdaq Composite was down more than 3% but closed up by more than 3% was **November 13, 2008** --Dow Jones Market Data The Nasdaq was down 3.45% at its low today 6.4×01.6k25685
59Jul 10, '24Net bullish positioning in equity futures among asset managers and leveraged funds has touched the highest level in a decade --JPMorgan6.3×67k38818088
60Apr 22, '22U.S. equity funds have recorded $30 billion of outflows over past two weeks, the largest since March 2020 market crash -Deutsche Bank5.9×01.3k343123
61Mar 5, '24Why is everyone going out of their way to highlight that we are *not* in a bubble?5.9×63k312269
62Jun 15, '24It's been 329 days since the S&P 500 recorded a decline of 2% or more--the longest stretch since February 2018 @LizThomasStrat5.3×57k2896056
63Aug 2, '23More than 40% of companies in the Russell 2000 have **negative** earnings --Apollo's Torsten Slok4.8×52k34410223
64Feb 22, '24Nvidia gained **$277 billion** in market value today, more than what Qualcomm is currently worth and the largest one-day gain on record for a company --Dow Jones Market Data4.8×51k2694912
65Apr 10, '23"S&P 500 market cap is up ...so far in 2023 but 92% of that rise has come from just 7 large cap stocks and AAPL has account for nearly one-quarter of it" --Citi4.6×49k2555811
66Feb 4, '24The S&P is up 38.4% so far during this bull market The average bull market gain is 114%, median is 76% --@bespokeinvest4.3×46k2985541
67Nov 17, '18appears to have lost all client money on short options strategies on energy markets. I’m sorry this wave “capsized” the boat, he says, apologizing. James Cordier to 290 clients her4.1×049122839
68May 3, '25Warren Buffett at his annual meeting, answering the first question of the day: “We should be looking to trade with the rest of the world,” Buffett said. “We should do what we do be3.8×41k5757434
69Dec 30, '21One of the biggest shifts in markets this year has been the explosion of options trading And for the first time ever, daily options volume in 2021 will surpass stocks Options ADV: 3.4×065217874
70Jul 21, '22Call open interest tied to the VIX jumping to or above 40 is at a record - JPM3.2×063613388
71Jun 2, '22Call options trading among retail investors has fallen to lowest level since Dec '19, completely reversing the surge in activity since the pandemic began -JPM3.1×067913776
72Jan 21, '22The Nasdaq fell 3% from its intraday high to its low today. "This is actually the first time the Nasdaq has erased an intraday gain of 1%+ and closed lower by 1%+ on back to back d3.1×082012731
73Jan 24, '21This is pretty wild. Last year, in RECORD year for options, about 30 million contracts traded daily. This year, it’s been more than **40 million a day** to kick off the year #Optio3.0×056515461
74May 3, '25Buffett on the recent stock market volatility: "It's really nothing," Buffett said. "This has not been a dramatic bear market or anything of the sort."2.9×30k2934414
75Jul 7, '24Entered and cashed in my first World Series of Poker tournament over the holiday, the $800 buy-in Independence Day event Had so much fun playing2.4×26k31223
76Mar 17, '24Mom’s response to my #0dte trading story2.3×25k339116
77Nov 30, '22The Dow Jones Industrial Average gained 20.4% over the past two months--largest two-month percentage gain since **July 1938**2.3×055210224
78Oct 16, '20The wealthiest 1% own the most stock, accounting for 53% of ALL household stock ownership-Goldman *The top 1% by wealth bought $1.5 trillion of equities during the past 30 years *T2.2×033315544
79Dec 6, '21Put options volume across all symbols jumped to the highest level on RECORD Friday, with almost 27m contracts trading -Cboe data Puts outpaced calls for the first time this year an2.1×043811428
80Aug 9, '204.8 mil­lion mil­len­ni­als lost jobs since the pandemic hit, more than the two prior generations “It’s 2008 all over again.” Covid’s financial fallout is a second blow to millenni2.0×035118414
81Dec 6, '21Almost a third of the stocks in the Nasdaq Comp are down 50% from highs -SocGen1.8×039810828
82Jun 8, '21NEW: Traders spent **$11.6 billion** on options premium for AMC last week--more than on SPY, QQQ and Tesla COMBINED “These traditional relationships between volatility and stocks h1.8×03199525
83Feb 15, '21Robinhood app downloads have coincided with stimulus checks---and lots of market volatility, via bofa1.7×03739233
84Jan 29, '21BREAKING--Our EXCLUSIVE interview with DeepF---ingValue, Roaring Kitty, for @WSJ He says he's just a normal guy. “I didn’t expect this" @JAVerlaine @WSJmarkets1.6×03336531
85Jun 3, '21AMC plans to sell 11.5 million shares and cautions investors: "Our current market prices reflect market and trading dynamics unrelated to our underlying business, or macro or indus1.6×02626610
86May 1, '25Feels like this stock rally is making a lot of people really nervous1.5×16k270137
88Nov 2, '22Individual investors recently increased the share of cash in their portfolios to ~25%, the highest level since March 2020 @WSJmarkets1.4×03068718
89Nov 7, '22Housing "affordability is deteriorating faster than at any point in our data history, and with the recent runup in mortgage rates, the pace of that deterioration just took another 1.4×02829427
90Aug 11, '22The SEC is investigating Melvin Capital Management after its losses during the meme mania last year The regulator is asking about Melvin's risk controls and disclosures1.4×0331801
91Jun 2, '21GME is the biggest holding in the iShares Russell 2000 Value ETF. AMC is third and catching up quickly1.4×02894916
92Aug 14, '22Retail options activity is at the highest level since April, according to UBS1.4×03155428
93Sep 26, '21NEW: The average daily notional traded in the options market is on track to surpass stock trading in 2021 for the first time EVER ~$432 bn notional in options traded daily ~$404 bn1.4×02717023
94Dec 22, '21The Russell 2000 is averaging a 1.8% daily move this month, on pace for the most volatile December since **2008** --Dow Jones Market Data1.4×03406118
95Jan 15, '21$642 billion worth of single stock options traded on Jan 8, the highest single day notional EVER -according to GS #OptionsTrading1.3×02787624
96Nov 3, '21AMC and Avis are now the biggest holdings in the iShares Russell 2000 Value ETF #valueinvesting $CAR1.3×02674816
97Dec 16, '21The S&P 500 is down 0.8% but eight out of 11 sectors are green1.1×03014010
98Oct 25, '21Some news! So excited to share that I'll be joining @CNBC as a contributor--so you may see me on the📺talking about my @WSJmarkets stories!!1.0×0286100
99Jun 5, '22Personal news: my best friend got married and we crushed the baraat dance0.9×02951014
100Oct 7, '22Very excited for this!0.9×027730

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