I’m actually in favor of the astrology stocks app: investors tend to be bad market timers, and maybe giving them an irrational reason to own stocks will prevent them from selling for semi-rational reasons. https://twitter.com/zslayback/status/1186387166924038151 …
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Replying to @ByrneHobart
The steelman version of this is that it's a gender-swapped version of pitching guys to invest in video games: as long as you don't trade actively, transitioning you from ~0 exposure to market to materially non-zero exposure to market will improve your outcomes over long term.
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Plausibly the only social purpose for retail brokerages is improving customers' household portfolio allocation away from cash/real estate into literally anything more sophisticated than that, principally via marketing.
6:27 PM - 21 Oct 2019
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