JPM si spinge addirittura a dire che questo potrebbe essere un evento disruptive come sono stati i fondi passivi:
The investment process, in particular, for levered long / short portfolio construction may need to adapt after this week’s unusual short squeeze. Similar to the 1987 crash, which permanently left a print on the vol surface, the short squeeze risk will likely be more closely monitored and more accurately priced-in going forward, especially in stocks with extremely high short positioning. For example, one may need to systematically analyze social media chatter for stocks with growing retail participation.
Based on our research, retail is generally partial towards: (1) household brands; (2) consumer and tech sectors; (3) lower market-cap; and (4) special situation stocks with momentum.
In our view, active retail participation growth is a secular trend that will introduce as many opportunities as risks. Thus, the investment process will need to evolve with the changing investor composition (i.e. similar to the impact systematic and passive products have had on equities over the last decade).