Jason Zweig

speaker

906 appearances 17 recordings 1 series first heard Jan 2018 last heard Sep 2022

Jason Zweig’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Robinhood Trading App: A Seasoned Expert Puts It to the Test · 11 Dec 2020 podcast

So I went into all of this with a plan. voice-verified

I was going to buy... voice-verified

extremely volatile, often very small stocks that had high recent returns. voice-verified

And the reason to do this is because such so-called momentum stocks often continue to generate very high returns, at least for a short period. voice-verified

And I was hoping to capture those and, in effect, get rich quick with my $100. voice-verified

But what happened was when I opened the app and started trading, all of the sort of buzzing colors and displays completely knocked me off my plan. voice-verified

And even though I had a list of five stocks I wanted to buy... voice-verified

I ended up buying a bunch of the stocks that simply were most popular on the app. voice-verified

And from there, it kind of all went downhill. voice-verified

The next thing I knew, I was voice-verified

trading leveraged ETFs, which are extraordinarily risky and can sort of triple the market's losses in the course of a day. voice-verified

And I ended up losing sleep. voice-verified

I woke up at 2.30 in the morning one night and said, I have to make a big score. voice-verified

And all of this was completely alien to my investing personality. voice-verified

Although, fortunately, it did not affect my portfolio at all outside the app. voice-verified

But it did make me crazy in a hurry inside the app. voice-verified

Well, yes and no. voice-verified

They do turn up from time to time in the list of most popular holdings on Robinhood, usually not right near the top, but there's no question that people do buy them. voice-verified

And I think the area of greater concern here is that many discount brokerage firms, if you want to buy a leveraged voice-verified

or inverse ETF. voice-verified

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