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In the Name of God بسم الله

Nouriel Roubini on Robin Hood & Game stop etc.


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Well worth reading

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Now, the same millennials who were [duped] over a decade ago are being duped again. Workers who rely on gig, part-time, or freelance “employment” are being offered a new rope with which to hang themselves in the name of “financial democratization.” Millions have opened accounts on Robinhood and other investment apps, where they can leverage their scant savings and incomes several times over to speculate on worthless stocks.

https://www.theguardian.com/business/2021/mar/03/bitcoin-and-robinhood-will-end-badly-for-those-who-can-least-afford-it

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Worth bearing the following stat in mind:

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Hodge and Pronk (2006) report that only 40.6 percent of nonprofessional investors who visited a corporate website to evaluate the company as a new investment and 54.5 percent of those who held it as a current investment examined one or more financial statements. 

Dilla WN, Janvrin DJ, Jeffrey C. The Impact of Graphical Displays of Pro Forma Earnings Information on Professional and Nonprofessional Investors’ Earnings Judgments. Behavioral Research in Accounting. 2013;25(1):37-60. doi:10.2308/bria-50289

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