Justin Baer

speaker

162 appearances 3 recordings 1 series first heard Feb 2020 last heard Nov 2024

Justin Baer’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Teens Can Trade Stocks With Real Money. But Should They? · 19 May 2021 podcast

Goldman Sachs, Marcus Platform is pursuing much of the same demographic.

Really, every major financial services firm is.

And a lot of this really is made possible by technology, which has really pushed down the cost of nearly all financial services.

And it's really made the industry focus a lot more on volume.

And that means pursuing all potential customers and not just the really wealthy ones.

People also have really much greater expectations for their experiences with service providers of all kinds.

And this has really been driven by e-commerce and a lot of popular apps.

Yes, certainly.

We've had just the recent hearings in Washington where lawmakers really skewered Robinhood and other brokers for how they handled the run-up of certain of those meme stocks back in January.

And some of that has to do with what's called the gamification of taking financial risks, really

making it really easy to take those risks and encouraging investors to take riskier trades.

We mentioned options earlier.

That's been a really popular way to amplify bets on the market.

And really, some of these critiques are new.

Some of them are fairly timeless.

There's a long, long history on Wall Street where

Small individual investors lost out, lost money, while the professional corner of the industry thrived.

And rallies of all kinds really do have a psychological effect on all investors.

And while there have been lots of individuals who have lost money during these moments, there have also been a lot of professionals, a lot of hedge funds that have struggled, certainly last year when we saw the volatility in the markets in the spring, and then even through this current rally.

But there's little doubt, though, that lots of younger investors were swept up in this latest frenzy.

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