3 ms·
I don't think there's anything wrong with an application that teaches concepts like earnings ratios, fundamental analysis, etc. In fact it seems like doing it i
by morpheuskafka 5y ago
I don't think there's anything wrong with an application that teaches concepts like earnings ratios, fundamental analysis, etc. In fact it seems like doing it interactively while looking at real data would be a good way to do it.
However, I'm not really sure that this is the kind of knowledge that you talked about. I mean it certainly doesn't hurt to know of this, but I don't really think this is what is meant when we talk about American's financial illiteracy levels.
There are countless reddit posts where people don't know that tax refunds (except in the case of certain refundable credits) simply repay them for taxes they already paid in but did not owe that year. People who don't know what the difference between the minimum payment and the payment needed to avoid interest is. People who routinely use overdrafts as a form of credit. People who use high-fee prepaid cards to "avoid overdrafts" instead of simply not making them.
And as smt88 said, there's just not much profit in that. There are perfectly good websites, blog posts, and videos out there that cover this already, and it can't really be coupled with data for monetization the way stocks can. Frankly, while it absolutely should be taught to kids, there's a point at which if you're an adult and you can't sit down for five minutes to read an article about how your credit card works, its no one's fault but yours. I agree that optimizing for readability is great, but I don't know that "no one will read black text on a white page." That describes a book, after all.
- hippofluff 5y agoThanks for this perspective, I agree that financial literacy is far bigger topic than what we cover in Stock Unlock. Further, we definitely don't cater to every person today, we have a lot of users who love us but I know that there's also people that we don't appeal to right now (and that's okay). Daniel Pronk's Youtube I believe is a good way to understand what crowd we are catering to today. In my personal experience there is a need for a better way to learn to get into long term investing, my hope is that we will continue to expand into other areas of financial literacy as well, but right now we are focusing on getting one thing right.