Discussion in 'Retail Brokers' started by freedinner, May 26, 2019.

  1. A whopping 450k of robinhood customers own shares in Aurora Cannabis, the most widely held stock at the broker.

    All the other cannabis stocks with market caps in the billions, revenues in the millions and losses in the tens of millions are not far behind.

    I'm really wondering what the average return of the robinhood customer is. It looks like "robinhood" in effect does nothing more than directly channelling the small savings of their customer base into the hands of the handful insiders / founders of these firms, that can now sell their millions of shares (with cost base of a few cents) at even higher prices.

    robinhood itself probably doesn't too shabby either as the PFOF on these names is sky high.

    A bit like a gambling den that lures in first time customers with the promise of zero rake at the poker table, but with the card sharks already waiting - and the sharks giving kickbacks to the casino.
    Nobert likes this.
  2. Nobert


    Would be interesting to see, in %, how many of them, uses weed, at least once a month.

    lol, imagine a quiz, before you buy pot stocks...

    ,, Have you ever tried ?
    a ) yes b ) no
    ( if no, then why ? { ....... } )

    ,, How many times, per week - do you smoke ? ''
    a) 1< b) more than 10 c) i lost the number

    ,, How much of that, would be in pounds ?
    a) 0.02 b) 1 c ) 50+ d ) your body weight e ) i don't know

    ,, Which taste is your favorite ? ''
    a ) amnesia b ) deliusia c ) ...

    ,, ... Why ? ''

    Thank you, for your cooperation.
    Last edited: May 26, 2019
  3. I read a book once when I was a kid that said when you want to buy stocks, look around and see what products your friends are buying. Buy those stocks.
  4. gaussian


    This is why a lot of pit traders made terrible screen traders. When you're in the pit you can trade whatever people are screaming the loudest and probably be right.
    Nobert, dealmaker and nooby_mcnoob like this.
  5. And why RobinHood is a thing.
  6. Metamega


    I remember when a grow operation started here and all my coworkers started talking about weed stocks when they first spiked.

    They were all talking about how it had to go up more since it wasn’t even operating yet. I tried to explain how stock prices aren’t a direct valuation of earnings and value. It didn’t seem to grasp.

    Have one co worker that’s always on the mining stocks on the TSX venture which most do nothing ever. His mentality is that all it has to do is go from .03 to 1.00 and he’ll be set. Most them stay at .03 with 10k shares traded a day lol.
  7. Nobert


    That's why i eat alone, or with someone whos reading quality books ,during the lunch time.

    comagnum likes this.

    In the field of psychology, the Dunning–Kruger effect is a cognitive bias in which people mistakenly assess their cognitive ability as greater than it is. It is related to the cognitive bias of illusory superiority and comes from the inability of people to recognize their lack of ability. Without the self-awareness of metacognition, people cannot objectively evaluate their competence or incompetence.

    In Self-insight: Roadblocks and Detours on the Path to Knowing Thyself (2005), Dunning described the Dunning–Kruger effect as "the anosognosia of everyday life", referring to a neurological condition in which a disabled person either denies or seems unaware of his or her disability. He stated: "If you're incompetent, you can't know you're incompetent ... The skills you need to produce a right answer are exactly the skills you need to recognize what a right answer is.
  9. Nobert


    I didn't knew that.

    I thought, that it was highly correlating, with cognitive ability (if not that, then ego problem) , instead of neurological condition.

    Still, it could be, partially - applied, to a wider audiences (?)

    Last edited: May 27, 2019