ICYMI: Retail-focused brokerage Robinhood Financial hit back against comments by Warren Buffett who likened the millions of inexperienced day traders who entered the stock market in the past year to gamblers
annual meeting on Saturday, Buffett said Robinhood has attracted, "maybe set out to attract," large numbers of people who just gamble on short-term price movements. Buffett's long-time business partner, Charlie Munger, was harsher, saying it was "god-awful that something like that would draw investment from civilized man and decent citizens.
Buffett and Munger made their comments after Berkshire shareholder Robert Miles asked them what they thought of Robinhood and other retail brokers enabling people of all ages and experience to participate in the market."They're trying to dissuade people from making money through trading, which Charlie said is not how they made their money. They made their money by investing," he said in an interview.
"He said it wasn't immoral, it's just in his opinion not very wise," said Miles, who teaches a class on Buffett at the University of Nebraska, Omaha. Robinhood also traded barbs with Munger in February, calling him elitist, after the 97-year-old investor said the brokerage encouraged gambling in stocks.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
The Broker, The Astronaut and The Vampire: Enter the mysterious world of Soviet watch collectorsWith pseudonyms like The Broker, The Astronaut and The Vampire, this global cabal of watch collectors specializes in Soviet timepieces dating back to the days of Stalin
Weiterlesen »
White House working to broker deescalation of Israeli-Palestinian tensionsPresident Joe Biden's administration is working to broker a deal to stop the latest eruption of violence between Israelis and Palestinian militants in the Middle East.
Weiterlesen »
Robinhood crashes chile Elon Musk jokes on 'SNL' of ditching dogecoin to mom'We're currently experiencing issues with crypto trading. We're working to resolve this as soon as possible,' Robinhood stated.
Weiterlesen »
Maggie Q, Samuel L. Jackson Star in Action-Packed 'The Protégé' TrailerLionsgate has released the first trailer for 'The Protégé,' a new action thriller starring Maggie Q, Samuel L. Jackson, and Michael Keaton.
Weiterlesen »