Online brokerage TD Ameritrade (AMTD) reported its best quarter ever Thursday, however in the wake of lower trading activity the stock is down nearly 7% in the last month. We've hit Dow 14,000. So why aren't retail investors trading more? TD Ameritrade Chief Executive Joe Moglia offers some perspective.
Following are excerpts of Fast Money’s interview with TD Ameritrade (AMTD) Chief Executive Joe Moglia.
Are trading revenues weak?
“The fact is, while (trading revenues) might not be as good as they were a year ago we’ve seen a reasonable pick-up over the span of the last couple of weeks,” replies Moglia.
How much of a lag is there between positive market performance and trading activity - and how optimistic are you about the second half of the year?
“I think that the lag probably takes about 6 weeks but it is a gradual thing,” says Moglia. “Some people get involved right away, the others might get involved a quarter after that.”