“We have seen the opposite of the conventional wisdom—all else equal, more Robinhood customers moving into a stock has corresponded to lower returns."
Noted cheerleader says daytrading "geniuses" had it coming for piling into the worst stocks in an overbought market.
Billionaire says he should have trusted the Fed and animal spirits to lift stocks off their apocalyptic COVID lows even in a recession.
"I'm not suggesting that Mr. Buffett's lost his edge but I can't find a history of people his age that don't become relatively static in a crisis."