Online investment platforms: Entertainment or not? – With insights from The Wall Street Journal

'Whenever a stock’s price changes, Robinhood updates it not just by showing an uptick in green and a downtick in red, but also by spinning the digits up and down like a slot machine. This flux of direction and color quickly becomes hypnotic', says Jason Zweig of The Wall Street Journal.
Published on

Among the most memorable admissions made during the past year's Rational Radio webinars (which are taking a break until January) was when Purple Capital's CEO Charles Savage explained his group's strategic switch to a long-term via its low-cost, high-tech stockbroker EasyEquities. Savage said Global Trader, the core of the group for over a decade, was a dead-end because 80% its clients – traders – lost their shirts so needed to be replaced annually. In other words, trading shares is a mug's game – but that still doesn't stop hordes of the self-confident betting they'll beat the odds. Especially in the USA, it seems. Our favourite personal finance columnist, Jason Zweig of The Wall Street Journal, decided to see what the hype was all about by signing up with day-trading phenomenon Robinhood. – Alec Hogg

Use Spotify? Access BizNews podcasts here.

Use Apple Podcasts? Access BizNews podcasts here.

___STEADY_PAYWALL___

Loading content, please wait...

Related Stories

No stories found.
BizNews
www.biznews.com