Business
Reddit frenzy: Billionaire Mark Cuban says his 11-year-old son made money with WallStreetBets traders — and he ‘loves’ what’s going on with the forum – The Australian Financial Review
Mark Cuban says he ‘loves’ what’s going on with the Reddit forum, now that ‘speed and density of information is giving the little guy an edge’.
Cubans tweet gathered some criticism from followers for not addressing the need for regulation to control the current market dynamic, while others encouraged him to teach his kid to become a responsible investor.
But piling into previously unloved stocks is unlikely to turn out to be a good thing for most retail investors, a CEO of one of the largest independent financial advisory firms warned.
The valuations can be expected to be extremely wild in both directions and theres a legitimate risk that…
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