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According to Professor Asha Rao, while many individuals don’t consider their data “important” enough to feel vulnerable to cyber security threats, it’s precisely that attitude that is preyed upon by cyber criminals.

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The associate dean of mathematical sciences at RMIT University joins host Grace Ormsby on this episode of The nestegg Podcast to discuss the recent cyber attacks affecting the Australian government, the importance of remaining vigilant around cyber security, and the common scams that people should be wary of.

Professor Rao explains how automated technology makes cyber crime more profitable, why the pandemic has increased our exposure risk to such threats, and what to do if you think you’ve compromised your cyber security.

Thanks Professor Rao, for sharing your insights with the nestegg podcast team!

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Are Millennials really the reason the stock market is stuffed?

By Grace Ormsby

June 24 2020
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Invest

Are Millennials really the reason the stock market is stuffed?

By Grace Ormsby
June 24 2020

Millennials are being blamed for the stock market’s continued volatility right now, but is it a well-founded judgement?

Are Millennials really the reason the stock market is stuffed?

By Grace Ormsby

June 24 2020
Share

Millennials are being blamed for the stock market’s continued volatility right now, but is it a well-founded judgement?

According to Switzer Financial Group, “Millennial madness” is the reason for recent increases to both the ASX and US stock market, despite COVID-19 cases still rising the world over.

Peter Switzer said, “This oddity is explained by professional fund managers as the silly behaviour of Millennials as they get too engrossed in the stock market.”

Only 10 per cent of Australian Millennials actually invest in funds, according to a 2019 Calastone study – but more than three-quarters of those surveyed did indicate they plan to invest in the future.

Mr Switzer said there’s a newfound stock market appeal: “Term deposits are hopeless. People can’t buy homes. So, they’re looking to the stock market as an alternative to build wealth.”

Pengana Capital’s Rhett Kessler agrees: “Before it was the Belgian dentists. Then it was the New York taxi driver that you got your stock tips from. Now it’s the Millennials.”

Amid current uncertainty, Mr Kessler conceded, “Everybody is having a punt.”

But he warned that “this is not a time for embracing risk”.

Roger Montgomery of Montgomery Investment Management is also of the opinion that Millennials are “pretty responsible” for current market swings.

He flagged a United States example to add to his point: Hertz.

After declaring bankruptcy back in May, the car rental’s share price went up fivefold.

“People were punting on the equity not realizing that the equity and the capital structure is the last to be repaid,” Mr Montgomery explained.

“The speculation in the stock after they announced Chapter 11 bankruptcy just shows you how uninformed traders are at the moment.”

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.