Business
Munger calls out Robinhood, other brokers for ‘dirty’ money – The Australian Financial Review
Warren Buffett’s business partner dismisses commission-free brokerages as gambling services.
Its most egregious in the momentum trading by novice investors lured in by new types of brokerage operations like Robinhood, Mr Munger said. I think all of this activity is regrettable. I think civilisation would do better without it.
He called commission-free trading one of the most disgusting lies being perpetuated by the investing world.
Robinhood trades are not free, Mr Munger said. When you pay for order flow, youre probably charging your customers more and pretending to be free. Its a very…
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