Millennials are investing. I have seen the data on StockTwits and as an investor in Robinhood. Millennials also buy stocks.
Of course people are surprised because the generation before made so many mistakes chasing tech stocks, leveraging themselves to their homes and finally now piling into passive investing instruments they cant explain other than the ‘fees are low’.
Meanwhile Millennials are running away from the malls and bad content, shunning ‘stuff’, sharing and renting not buying.
The last generation watches CNBC with the sound off. CNBC responds all day with captions like the one below. Content that is mocked by the younger generations and are fodder for the players that have it on in the background.
One of my favorite myths that financial media repeats every day is the strength in the US Dollar. I guess they think that we think it’s 1984 not 2016.
This ‘strong dollar’ era we keep hearing about has Gold over $1000 and Bitcoins at $600.
Investing has nothing to do with listening to ‘pundits’ on television and paying for Barron’s or the Wall Street Journal. Saving money is free and so to is investing. It’s not just technology that made this so. The caretakers of said media just let their products drift into a bloated mediocrity.
Josh’s post on ‘Ten Insane Things we Believe in Wall Street‘ really brings this idea home further.
The next thirty years of investing might be rigged by the same people that rigged the last thirty years but the investors and traders will be much different ‘professionals’ who won’t be as easy to herd and manipulate.
It’s fun and exciting to watch these changes in real time and at ground level