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AA Alex Altmann On The Compound and Friends

“People always ask me, what gets retail to sell? I'm like, lose your job. Or when your neighbor loses their job.”

The Compound and Friends · October 2026

“People always ask me, what gets retail to sell? I'm like, lose your job. Or when your neighbor loses their job.” — Alex Altmann, The Compound and Friends

Context

Altmann argued retail investors have outperformed institutions this cycle because they have more holding power and no committee to answer to. Only a margin call or job loss forces them out, he says.

Transcript

The Compound and Friends Around 16:52 into the episode
Alex Altmann

Right. And the only thing that will basically cause them to stop out is either their brokerage account basically margin calls them or they lose their job. That's it.

Josh Brown

Yeah.

Alex Altmann

Right. It really is all about. People always ask me, oh, what gets retail to sell? I'm like, lose your job. Or when your neighbor loses their job.

Michael Batnick

So there's been times where retail has dumped stocks. Like, obviously. Is that a buying opportunity or not necessarily?

Alex Altmann

It depends on the starting point and how long it's been going on for. So what if I told you, we've got data on retail back to around about 1995, like good quality data. Is that

Michael Batnick

relevant still in today's world?

Speaker names come from our own diarization. The position is estimated from where the line sits in the episode.

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