has online trading gone too far?

[Anonymous No.20377542]

>Mr. Dobatse, now 32, said he had been charmed by Robinhood’s one-click trading, easy access to complex investment products, and features like falling confetti and emoji-filled phone notifications that made it feel like a game. After funding his account with $15,000 in credit card advances, he began spending more time on the app.

>As he repeatedly lost money, Mr. Dobatse took out two $30,000 home equity loans so he could buy and sell more speculative stocks and options, hoping to pay off his debts. His account value shot above $1 million this year — but almost all of that recently disappeared. This week, his balance was $6,956.
https://www.nytimes.com/2020/07/08/technology/robinhood-risky-trading.html

[Anonymous No.20377579]

>>20377542
who cares about black boomers when we have ALL OR NOTHING shitcoins like Suterusu? seriously. either the protocol works and gets adopted and you get MEGA RICH from like $3k, or you lose lunch money.

worth it.

[Anonymous No.20377649]

>>20377542
>Used credit card advances to gamble with

[Anonymous No.20377752]

low interest rate policy has made it so that you basically NEED to be in the stock market to have any hope of escaping inflation, still, watch them scrambling with stupid bullshit gambling addict articles, to prevent the lower classes from being able to buy stocks

[Anonymous No.20377861]

>>20377752
>what are boomer rocks

[Anonymous No.20377874]

>>20377542
he had $1 million and didn't cash out? this is why poor people are poor. they're dumb. i'm sick of this liberal faggot bullshit of giving them more money to be more retarded. fuck niggers, fuck women, and fuck kikes.

[Anonymous No.20378275]

Oh no, this guy in his 30s with kids finally gets taught a lesson about planning ahead and how actions have consequences. Can you believe it took him so long to reach this point? Is that what they call “jogger privilege”.

[Anonymous No.20378446]

>>20377861
Governments still own the majority of the world's reserves of boomer rocks, and they have fucking international agreements of how much they should dump to suppress the market, and then if needed still go beyond with gold leasing.

[Anonymous No.20378479]

>>20377649

> trying to push blame

[Anonymous No.20378512]

>>20377874
>>20378275

The amount of b

[Anonymous No.20378551]

>>20377874
>>20378275

The amount of based is impeccable.

[Anonymous No.20378653]

>>20377542
Had he cashed out while he was ahead and payed down debt he would be considered a smart guy by the NYT and he would be bragging to his friends. Instead he went to way of the dumbass and it’s now someone else’s fault.

[Anonymous No.20378706]

>>20377874
He never had a million, he's saving face.

[Anonymous No.20378792]

>>20378706
He did have a million. I was contacted by his barrister and we made a deal to have it deposited to my bank account. Fuck off /biz/ eyes rich now!

[Anonymous No.20378894]

>>20377542
Can’t you at least archive the article? Ain’t paying to read about dumb joggers.

[Anonymous No.20379058]

>>20377542
Yes, before Robinhood and Crypto the barrier to entry was high enough to deter absolute retards like this guy from gambling their entire life savings and credit line away. However I don't feel too bad for him. The problem is that between the zoomer who became an hero and this faggot crying to the media the government is probably going to tighten regulations soon

[Anonymous No.20379249]

>>20379058
Reminds me of the days when you needed to have some smarts to get on the Internet and this filtered out the retards. Today anyone with a smartphone can get online.

[Anonymous No.20379431]

>>20377542
these articles are all coordinated fud against robinhood
the legacy NYC firms don't want californian competition to their racket, this is laying the groundwork for inevitable legislation against robinhood and zero fee trading accounts for non institutional investors, to protect the children of course

also everyone seems to miss the point this retard actually made almost 1 mil on boomerstonxs doing about a 10x
not bad in the given time frame, jsut always remember to sell before the dump

[Anonymous No.20379573]

>>20377542
>an emoji made me take out $45k in loans to gamble on options
>somehow actually had $1mil
>loses it all like a retard
Niggers truly have no sense of responsibility or self awareness. I love how RH removes retards from their undeserved easy street wealth and forces them into bankruptcy

[Anonymous No.20379660]

>>20379058
>govt
>cracking down on securities

Lol

[Anonymous (You) No.20379670]

>>20379431
This is bad how? Not everyone can nor should make it big on stonks. It's for the high IQ gang only

[Anonymous No.20379702]

>>20377579
fucking indians

[Anonymous (You) No.20379759]

>>20379058
This. Or the SRO is going to tighten up rules on brokers. Robinhood eliminated features because of the an hero retard who actually made a profit, if only he understood what he was doing.

[Anonymous No.20380199]

Wasn’t there once a time when it was just embarrassing to publicly state what an idiot you were? Where have those days gone?

[Anonymous No.20380232]

>>20379670
a free market in trading is good and does what you say you want it rewards the intelligent at the expanse of the stupid as what happened with this guy

putting up government roadblocks to entry doesn't give rewards to the intelligent it steals from all to give to the political connected
without robinhood and the drive towards low fees you too will be paying much higher fees
or worse you will be barred from trading at all unless you pay for an institutional account
which main purpose is to set a price floor below which it is unprofitable to trade thus preventing any plebs like us from ever making it

[Anonymous No.20380272]

>>20377542
These morons just funnel anyone with an IQ over 80 their money. I'm completely OK with this.

[Anonymous No.20380352]

>>20379573
>I love how RH removes retards from their undeserved easy street wealth and forces them into bankruptcy

I hope you don't hold decent cryptos, cause that is top hypocrite attitude. You're just mad cause he's a google.

[Anonymous No.20380494]

>>20379660
Where have you been? The US is one of the most cucked countries for retail investors