“Just 10% of trading is regular stock picking, JPMorgan estimates”
In reading this article, it was not clear if the analyst was just empirically looking at what has traded recently, and then creating a narrative.
Or if they had some data that linked trades to the decision processes/tools behind the trades.
I would find it hard to believe that even JPMorgan would be able to have inside knowledge of how these trades were instigated so I think it is just empirical. But, I have never worked on Wall Street so definitely could be wrong.
The comment that caught my eye is when they said that ‘large growth stocks’ are a bond proxy. Maybe large, defensive companies (like Staples) but large ‘growth’ companies? Odd comment.