Discussion about this post

User's avatar
Larry O'Connor's avatar

The saying goes if the service is free, you are the product.

Expand full comment
Horatio Flemm's avatar

Whenever a young kid on my portfolio team (I worked on Wall Street for years) would say to me, "this is kind of like gambling" I'd always reply, "No, IS gambling, and the sooner you understand that the better you will be at this."

The insane urge to get rich overnight, without having to actually work for it, has ruined many a man over the centuries. Market speculation is America's favorite past time.

From the article: -- “It’s been famously said, ‘Never confuse a bull market with brains,’” he says, noting the S&P 500 is up nearly 64% since lows on March 23, right around the time the Robinhood’s numbers began zooming skyward."

Robinhood is just riding a wave of cheap credit, greed and stupidity. They are not the cause of the massive asset inflation this year.

On March 13, the Federal Reserve announced that it was slashing borrowing rates (for the Big Banks, not for you) to zero again, and resuming "Quantitative Easing," its gargantuan asset purchase program (of securities from banks at inflated prices, not from you.)

There's the real villain.

Expand full comment
285 more comments...

No posts