At Berkshire Hathaway Inc’s annual meeting on Saturday, Buffett said Robinhood has attracted, “maybe set out to attract,” large numbers of people who just gamble on short-term price movements. Buffett’s long-time business partner, Charlie Munger, was harsher, saying it was “god-awful that something like that would draw investment from civilized man and decent citizens.”
“He said it wasn’t immoral, it’s just in his opinion not very wise,” said Miles, who teaches a class on Buffett at the University of Nebraska, Omaha. During a Feb. 18 congressional hearing on the matter, lawmakers slammed Robinhood’s “gamification” of stock trading on mobile phones through things like a virtual confetti celebration following a big trade. Robinhood later removed the confetti animation from its app.
who gives a f when there’s tokenized stocks?
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