Robinhood fires back at Warren Buffett over ‘gamblers’ comment
Charlie Munger was more harsh, saying Robinhood’s business model is ‘deeply wrong’
03 May 2021 - 19:10
Bengaluru — Millennial-favoured stock trading app Robinhood Financial has hit back against comments by Warren Buffett who on Saturday likened the millions of inexperienced day traders who entered the stock market in the past year to gamblers.
Speaking at Berkshire Hathaway’s annual meeting, Buffett said Robinhood has attracted, “maybe set out to attract”, a large number of people who are just gambling on short-term price movements. Buffett’s long-time business partner, Charlie Munger, was more harsh, saying it was “deeply wrong”...
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