Note from the Publisher: We filed this story under “fintech humor” because a) it’s been a while since we did a humor piece, and b) because some of the screenshots in this story are hilarious. Howard Lindzon is fairly well known in the financial community as the founder of Stocktwits, the social media platform for active traders. He is also an investor in RobinHood, a disruptive smartphone app offering free trading, much to the consternation of other major trading platforms charging up to $10 per trade. The site claims it takes less than 4 minutes to set up a trading account. Anhoo, the story includes a screenshot of one comment to a CNBC chart mockingly stating “another 9 year out target” while the next screenshot shows another screenshot stating “they can’t predict 9 minutes out”.
“Millennials are investing. I have seen the data on StockTwits and as an investor in Robinhood. Millennials also buy stocks.
Of course people are surprised because the generation before made so many mistakes chasing tech stocks, leveraging themselves to their homes and finally now piling into passive investing instruments they cant explain other than the ‘fees are low’.
Meanwhile Millennials are running away from the malls and bad content, shunning ‘stuff’, sharing and renting not buying.”