Robinhood’s Steve Quirk & The State of Retail Investing

On The Tape

RiskReversal Media

News, Business, Investing, Business News

4.6 • 757 Ratings

🗓️ 20 November 2024

⏱️ 17 minutes

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Summary

Dan Nathan and Guy Adami bumped into Robinhood’s Chief Brokerage Officer Steve Quirk at CME Group’s GFLC. Steve gives us brief rundown of what’s new with Robinhood along with how he views the modern day retail investor. Subscribe to our newsletter: https://riskreversalmedia.beehiiv.com/subscribe — About the Show: On The Tape is a weekly podcast with CNBC Fast Money’s Guy Adami, Dan Nathan and Danny Moses. They’re offering takes on the biggest market-moving headlines of the week, trade ideas, in-depth analysis, tips and advice. Each episode, they are joined by prominent Wall Street participants to help viewers make smarter investment decisions. Bear market, bull market, recession, inflation or deflation… we’re here to help guide your portfolio into the green. Risk Reversal brings you years of experience from former Wall Street insiders trading stocks to experts in the commodity market. — Check out our show notes here See what adding futures can do for you at cmegroup.com/onthetape. — Shoot us an email at [email protected] with any feedback, suggestions, or questions for us to answer on the pod and follow us @OnTheTapePod on Twitter or @riskreversalmedia on Threads — We’re on social: Follow @GuyAdami on Twitter Follow Danny Moses @DMoses34 on Twitter Follow Liz Thomas @LizThomasStrat on Twitter Follow us on Instagram @RiskReversalMedia Subscribe to our YouTube page The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

Transcript

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0:00.0	Welcome to a special edition, Dan, of the On the Tape podcast. Now, we're down here in Florida
0:06.7	in Naples. GFLC. This is a CME Global Financial Leadership Conference. Do we have one of those
0:14.7	leaders here with us? Well, it's interesting because we were waltzing around on Monday and we ran
0:19.6	into Steve Quirk. Steve is the chief brokerage officer of Robin Hood.
0:24.2	He's a gentleman, and he's a friend.
0:26.3	We last saw Steve at the Robin Hood Conference that we were attended with 700 other people,
0:31.6	which was an unbelievable success.
0:33.9	Yeah, it was. Steve, welcome to the pot.
0:35.7	And, by the way, they, you know, as I told you guys
0:38.3	earlier, the feedback that we got from our best customers was amazing about all the things
0:44.9	you were helping them. Well, we did some fun stuff really quickly. So this is a new partnership
0:48.9	for us. And obviously, a lot of these listeners know a market call. We've been actually featuring their new product, which is legend, and they introduced
0:57.4	that at the Investor Summit about a month ago.
1:00.0	And we've been using it.
1:00.8	It's a great, great product.
1:02.0	We'll get to that a little bit.
1:04.0	But one of the things, and Guy and I just wanted to give a quick impression, because that
1:07.5	event, I think a lot of folks think about Robin Hood and they think about a product that a lot of folks were using, let's say, three or four years ago when crypto was going crazy and meme stocks.
1:18.1	And I think one of the things that Guy and I have learned over the last call it six to nine months is we've spent a lot more time together, that is not what this product is anymore.
1:26.1	And I think legend cements that going forward. Talk a little
1:29.0	bit about that transition. You've been there for like three years or so right now and transition
1:33.5	from a product and a service standpoint. Yeah, I think, by the way, I, you know, I came from the
	...

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