Tag: Robinhood

Via International Man

International Man: We seem to be entering a new paradigm in the financial markets. Social media has allowed a large number of small investors to band together and move markets in ways that were previously inconceivable.

What are your thoughts on this and what lies ahead?

Doug Casey: To start with, most of the people on Robinhood are ultra-unsophisticated—mostly unemployed kids living in their mothers’ basements. A lot of the money that the government sent them—the COVID checks—went into the market.

Of course, Robinhood itself is somewhat problematic with its commission-free trading and no minimum trade size. How can a company make money if it doesn’t charge its customers anything? It does so by having cozy arrangements with hedge funds. In essence, you get what you pay for, and if you don’t pay anything, you can expect to be treated like you’re a product, not a customer. I don’t have any problem per se with Robinhood’s business model, but Robinhood’s real customers are probably the hedge funds, not the public.

Continue reading “Doug Casey on Robinhood, Hedge Funds, and Class Warfare”

Guest Post by Simon Black

Are you ready for this week’s absurdity? Here’s our Friday roll-up of the most ridiculous stories from around the world that are threats to your liberty, risks to your prosperity… and on occasion, inspiring poetic justice.

Google Deletes 100,000 negative Robinhood reviews

Last week we talked about how YouTube was deleting “dislikes” on White House videos, because they vastly outnumbered “likes”.

This week Google is helping out Robinhood— the stock trading app caught up in the whole Gamestop stock saga.

Robinhood banned users from buying Gamestop stock. And that was seen by many users as fixing the market in favor of the big hedge funds.

As a result, an army of angry customers left negative reviews on the app store, bringing the Robinhood app’s rating down to one star.

Continue reading “Google Deletes 100,000 negative Robinhood reviews”