SEC Obtains Emergency Asset Freeze, Charges California Trader with Posting False Stock Tweets
Washington D.C., March 15, 2021 —
The Securities and Exchange Commission today announced fraud charges and an asset freeze and other emergency relief against an Irvine, California-based trader who used social media to spread false information about a defunct company, while secretly profiting by selling his own holdings of the company’s stock.
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War Of Words: Robinhood Responds To “Disappointing, Elitist” Charlie Munger Bemoaning “Speculative Orgies”
TYLER DURDEN, 26 February 2021
Investing legend Charlie Munger didn’t pull any punches when talking about Robinhood and the gamification that is driving new investments in the stock market over the last few years. In an exclusive interview with the Wall Street Journal, the 97 year old Vice Chairman of Berkshire Hathaway sounded off about the “wild speculation” created by the budding brokerage.
“I hate this luring of people into engaging in speculative orgies. [Robinhood] may call it investing, but that’s all bullshit,” Munger said on Thursday.
“It’s really just wild speculation, like casino gambling or racetrack betting. There’s a long history of destructive capitalism, these trading orgies whooped up by the people who profit from them.”
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