PDS 2.25 This Insane Lady Gaga Robbery, Jschlatt, Twitter Fights OnlyFans, Cuomo Allegations & More
The Philip DeFranco Show
philip defranco
4.7 • 1.1K Ratings
🗓️ 25 February 2021
⏱️ 15 minutes
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| 0:00.0 | So the first thing that we're going to talk about today is, yes, a story about investments in the stock market, but even if you don't care about that world, this is really a story about classism. |
| 0:10.6 | And I'll actually, I'll preface this story by saying, I understand where some of the concern is, but it is also elitist condescending and I think disrespectful of just people, like just everyday people that |
| 0:23.5 | are trying not to drown while other people get to be in yachts. If you're unfamiliar, let me |
| 0:28.2 | introduce you to Charlie Munger. He's Warren Buffett's longtime business partner. He's vice chairman |
| 0:32.8 | of Berkshire Hathaway. And in an interview with Yahoo Finance on Wednesday, he blasted retail investors, |
| 0:38.4 | right? Everyday people. The places like Morning Brew explaining, Munger criticized the, quote, |
| 0:42.5 | momentum trading by novice investors lured in by new types of brokerage operations like Robin Hood. |
| 0:47.4 | I think a lot of this activity is regrettable. I think civilization would do better without |
| 0:51.6 | it, calling the culture really stupid. Now here's the thing. |
| 0:55.0 | I think that people should be very careful and wary |
| 0:57.0 | when it comes to things like day trading or something |
| 0:59.0 | that is close to that, where you're trying to ride waves |
| 1:02.0 | and people are telling you that, |
| 1:03.0 | oh, this is a sure thing, oh, we're going to the moon. |
| 1:06.0 | But you're still talking about people that are grown-ass people |
| 1:08.0 | getting to choose what they're going to do with their own money. And to me, this just feels like an old rich guy spewing disgusting elitism. |
| 1:15.6 | Angered that everyday regular people get to touch the levers that used to be reserved for old |
| 1:20.4 | rich dudes and coped out Wall Street bankers. Like y'all have a perfect track record and never made |
| 1:25.2 | really bad decisions and had to be bailed out. In fact, and this is where I said I have a bias here. I'm such a believer in opening the door for regular people that retail investors are a massive part in the future. Not only have I brought on fantastic companies like public as a sponsor. In the last week, I became an investor in public because I believe in the general movement, |
| 1:45.0 | and out of everyone that's doing it right now, I think they are doing it the best and most ethically. |
| 1:49.0 | So what I actually want to do right here is pose a win-win-win. |
| 1:52.0 | If you want to start thinking about your future today, investing in your tomorrow, |
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