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Why Cramer Isn t A Fan Of Buffett s Advice To Retail Investors On Not Owning Individual Stocks
CNBC host Jim Cramer has rejected
Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) chairman Warren Buffett’s advice to new retail investors to invest in index funds rather than individual stocks.
What Happened: The “Mad Money” host said he does not share Buffett’s views and advised individual investors to adopt a hybrid investing model, adding that he favors the investment philosophy of Peter Lynch.
“I respect Warren Buffett, but I’ll always be a Peter Lynch guy,” Cramer said.
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Over the weekend, legendary investor and
Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) CEO Warren Buffett addressed several hot topics in the investment world.
Among the topics was the rise of retail traders and new brokerages like Robinhood.
Buffett Calls Out Robinhood: Buffett called out Robinhood in his remarks over the weekend.
“Robinhood has become a very significant part of the casino aspect of the casino group that has joined into the stock market in the last year or year and a half,” Buffett said.
Buffett said what Robinhood is doing isn’t immoral or illegal but cautioned that it is capitalizing on investors who are gambling on the stock market.
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War Of Words Erupts Between Buffett & Robinhood, Which Just Reported Soaring Revenues From Selling Client Orders To Citadel
by Tyler Durden
Monday, May 03, 2021 - 02:58 PM
It s not just this website that has slammed Robinhood over the past 3 years for misrepresenting its business model which it has claimed is to democratize finance for all, and instead of catering to the gambling instincts of millennial and GenZ traders, while quietly selling their orderflow (a practice it was forced to disclose not too long ago) to the highest bidders such as billionaire Ken Griffin s Citadel, who then trade ahead of this mountain of bulk trading data to virtually risk-free profits: over the weekend Warren Buffett also slammed the free brokerage, which nearly imploded during the February short squeeze mania, accusing the company of “taking advantage of the gambling instincts of society.
Just How Rich Is Warren Buffett Successor Greg Abel? forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.