{"id":2736,"date":"2020-04-21T09:38:21","date_gmt":"2020-04-21T16:38:21","guid":{"rendered":"https:\/\/www.steadytrade.com\/?p=2736"},"modified":"2020-04-21T10:38:22","modified_gmt":"2020-04-21T17:38:22","slug":"ep-144-the-macro-of-coronavirus-trader-cautions-with-zack-michaelson","status":"publish","type":"post","link":"https:\/\/www.steadytrade.com\/ep-144-the-macro-of-coronavirus-trader-cautions-with-zack-michaelson\/","title":{"rendered":"Ep 144: The Macro of Coronavirus &#038; Trader Cautions with Zack Michaelson"},"content":{"rendered":"<div id=\"backtracks-player\" style=\"max-width: 100%;\" data-bt-embed=\"https:\/\/player.backtracks.fm\/st\/steadytrade-com\/m\/ep-144-the-macro-of-coronavirus-and-trader-cautions-with-zack-michaelson\" data-bt-theme=\"dark\" data-bt-show-description=\"false\" data-bt-show-comments=\"false\" data-bt-show-art-cover=\"true\"><\/div>\n<p><script>(function(p,l,a,y,e,r,s){if(p[y]) return;if(p[e]) return p[e]();s=l.createElement(a);l.head.appendChild((s.async=p[y]=true,s.src=r,s))}(window,document,\"script\",\"__btL\",\"__btR\",\"https:\/\/player.backtracks.fm\/embedder.js\"))<\/script><\/p>\n<p><span style=\"font-weight: 400;\">The landscape of day trading has changed a lot since the emergence of the coronavirus pandemic.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While the recent market crashes have been terrifying, but it\u2019s not all bad news for traders. There are always opportunities in the market \u2014 it\u2019s a matter of adapting your trading strategy. Right now, there are a lot of great trades around the <\/span><a href=\"https:\/\/www.steadytrade.com\/ep-140-trading-during-coronavirus\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">coronavirus<\/span><\/a><span style=\"font-weight: 400;\"> sector and sympathy plays.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But from a broader perspective, what are the ripple effects on the global economy?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In today\u2019s episode, co-hosts Tim Bohen and Kim Ann Curtin talk with NYU professor and global macro portfolio manager Zack Michaelson. They discuss the macro effects of the virus and how it could affect traders.\u00a0\u00a0<\/span><\/p>\n<p><b>Note: <\/b><span style=\"font-weight: 400;\">Where\u2019s Stephen? Unfortunately, Stephen was exposed to someone who tested positive for coronavirus \u2026 He\u2019s in self-quarantine! By all accounts, he\u2019s doing well, but his at-home internet isn\u2019t great, so he\u2019s sitting this episode out.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">About Zack Michaelson<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Zack\u2019s been a professor at NYU since 2008. He teaches about applications of neuroscience and complex systems research to finance. He\u2019s also been a global macro portfolio manager for hedge funds at the Fortress Investment Group, Graham Capital Management, and FORT LP.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Zack&#8217;s a graduate of the Wharton School of Business, where he did doctoral work in physics, statistics, and systems engineering at Penn. He\u2019s also a graduate of Harvard, where he studied neuroscience and behavior economics.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So yeah, he\u2019s a smart guy and worth listening to.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">The Current Situation<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The episode begins with a conversation about how the novel coronavirus is affecting the economy in general. Then it segues into how it might affect traders.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Zack explains his point of view about the virus. According to Zack, It\u2019s a \u201cbig issue\u201d for the global economy, and he looks at how the virus has evolved and traveled to the U.S.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He considers the big picture \u2014 like the effects on other large economies and cultures and what could happen in our own country.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Don\u2019t miss his educated thoughts on what we might be looking forward to in the near future&#8230;<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What Should Day Traders Look For?\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Kim wants to know what day traders should think about right now&#8230;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to Zack, it\u2019s not just about finding hot stocks and trading opportunities. Before that\u2019s even possible, traders need to consider their mindset and mental well-being.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As he notes, \u201cFrom the behavioral finance standpoint, it\u2019s hard to disentangle your own personal life and feelings and what you want to happen from the trades you put on.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Everyone experiences this phenomenon. The world is in a state of uncertainty right now, and things are confusing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You likely have an opinion on the market, the stimulus package, or the country\u2019s leadership&#8230;\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These things can \u2014 and probably do \u2014 affect your trading. Simply acknowledging it is the first step. You may not be able to dismiss fears or thoughts about the future. But once you\u2019re aware of them, you can try to figure out how to work with these feelings. It\u2019s all about <\/span><a href=\"https:\/\/www.steadytrade.com\/trading-in-the-zone\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">trading psychology<\/span><\/a><span style=\"font-weight: 400;\">!\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Remember: the market doesn\u2019t care what your feelings are. Or as Zack puts it, \u201cCaution to the trader who trades based on feelings and emotions.\u201d<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">A Macro Look at the Current World Situation<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">According to Zack, in the market, people are usually talking about earnings or valuation. He explains both in detail and offers a macro approach to both.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You\u2019ll learn about some potential outcomes for company earnings. Zack introduces a bullish and bearish viewpoint and talks about short- and long-term effects of the recent market crashes and the coronavirus pandemic.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He also addresses what he believes is under-discussed \u2014 why earnings might not bounce back.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The group digs into the idea that GDP growth might not return to its previous level, and how that\u2019s connected to things like corporate earnings.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Zack explains that while on many levels capitalism works, it can suffer during times of crisis. Learn what that means for traders \u2026 and so much more!\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Got Something to Say?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Did this episode inspire questions, comments, or any other response? Hit us up!\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If your question is chosen as an on-air topic, you could win a SteadyTrade mystery gift box. Leave a comment below or on <\/span><a href=\"https:\/\/www.youtube.com\/user\/stockstotrade\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">YouTube<\/span><\/a><span style=\"font-weight: 400;\">!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thanks for tuning in to the SteadyTrade podcast. Stay tuned for weekly episodes featuring the hottest topics for aspiring traders.<\/span><\/p>\n<p><b>Love this episode? Please leave a review on <\/b><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/steady-trade-the-profitable-side-of-trading\/id1275946076?mt=2\" target=\"_blank\" rel=\"noopener noreferrer\"><b>iTunes<\/b><\/a><b>.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The landscape of day trading has changed a lot since the emergence of the coronavirus pandemic.\u00a0 While the recent market crashes have been terrifying, but it\u2019s not all bad news for traders. There are always opportunities in the market \u2014 it\u2019s a matter of adapting your trading strategy. Right now, there are a lot of [&hellip;]<\/p>\n","protected":false},"author":2283,"featured_media":2737,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[3],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ep 144: The Macro of Coronavirus &amp; Trader Cautions with Zack Michaelson - SteadyTrade.com<\/title>\n<meta name=\"description\" content=\"Right now, there are a lot of great trades to be found around to the coronavirus sector and sympathy plays, tune in to learn more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.steadytrade.com\/ep-144-the-macro-of-coronavirus-trader-cautions-with-zack-michaelson\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ep 144: The Macro of Coronavirus &amp; 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