Robinhood takes swipe at Warren Buffett

Robinhood struck back at Warren Buffett on Monday after the legendary investor said over the weekend that the online brokerage played a significant part in the “casino aspect” of the market.

“People are tired of the Warren Buffetts and Charlie Mungers of the world acting like they are the only oracles of investing,” Robinhood head of public policy communications Jacqueline Ortiz Ramsay said in a blog post. “Robinhood and other online trading platforms have opened the doors of financial markets to everyday people, deeply unsettling the old guard who will fight to keep things the same.”

A majority of Robinhood customers are buying shares and holding them as everyday investors build their nest eggs, Ortiz Ramsay said.

“At Robinhood, we’re not going to sit back while they disparage everyday people for taking control of their financial lives,” she added.

[More: Robinhood under pressure for bringing ‘gamification’ to investing]

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The post Robinhood takes swipe at Warren Buffett appeared first on InvestmentNews.

As our second lead editor, Cindy Hamilton covers health, fitness and other wellness topics. She is also instrumental in making sure the content on the site is clear and accurate for our readers. Cindy received a BA and an MA from NYU.

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