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> Now they are upset that apps like Robinhood has provided unprecedented access to the markets. Their exclusive access to insane gambling nonsense is being torn
by esoterica 6y ago
> Now they are upset that apps like Robinhood has provided unprecedented access to the markets. Their exclusive access to insane gambling nonsense is being torn down in real time.
This is such hilariously clueless nonsense, the fact that it's expressed with such smug confidence and upvoted to the top of the thread is really emblematic of HN's complete ignorance of any topic outside of programming.
When retail volume goes up there a plenty of "professionals" (brokerages, market makers) that make a killing off executing the retail flow. I assure you the industry is loving the fact that everyone and their cat is FOMOing into trying to day-trade on Robinhood. If you really want to stick it to Wall Street put all your money into a low-fee index fund.
- raesene9 6y agoWhilst most of Wall street may like this, I'd guess there's at least some parts (the hedge funds with large short positions in GME) who aren't having a good time today.
- briandarvell 6y agoCould you elaborate a bit more on why low-fee index funds are sticking it to Wall Street?
- esoterica 6y agoIf you’re not actively trading they’re not making any money off you.
- cwhiz 6y agoYeah that’s why the SEC, White House, MSM, Discord, and multiple brokerage firms all acted in an obviously concerted effort yesterday. It’s because of their sincere concern for retail, obviously.
- esoterica 6y agoYou forgot to mention Jeffrey Epstein, Bill Gates, George Soros, the pope, and the lizard people. But seriously, what did the White House and SEC do?