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Robinhood accused of gamification by Massachusetts regulator
Annie Massa and Michael McDonald, Bloomberg News The logo for Robinhood is displayed on a smartphone in an arranged photograph taken in the Brooklyn borough of New York, U.S., on Monday, Oct. 12, 2020. Even though the firm said this year that it has more than doubled its customer-service team, clients complain they re struggling to get quick help when their funds are disappearing. Photographer: Gabby Jones/Bloomberg , Bloomberg
Robinhood Markets drew millions of users to investing with a colorful app that makes trading seem empowering instead of intimidating.
That very appeal thrust it into the regulatory crosshairs yet again on Wednesday.
Here’s what the stock market predicts for 2021
It’s been a year of fear for many Americans: The worst global pandemic in a century has taken more than 300,000 lives, battered the U.S. economy and propelled the stock market into the fastest crash in history.
But markets have since staged a stunning turnaround and reclaimed record highs, defying the doomsayers despite a backdrop of historic job losses, bankruptcies and shrinking corporate profits. The market was driven higher by Big Tech stocks as trillions of dollars in stimulus from the Federal Reserve and Congress propped up an economy gripped by recession.
Capital Perspectives: Gauging investor enthusiasm By: Chas Craig Guest Columnist December 15, 2020
Chas Craig
“While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster.”
– Benjamin Graham
Warren Buffett counseled in his 2005 letter to Berkshire Hathaway shareholders that “Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful.” The dichotomy between the ease of understanding this concept and the difficulty of practicing it is unmatched. The reason, investors are all too human. As we have outlined several times in the past when discussing behavioral finance, the same instincts that protect us from physical harm and make us more tolerable to our fellow man seem to run counter to our financial well-being.