America is great. Online gambling is illegal but you can have an app to punt the market all day. Options might as well be roulette for most people.
Not all day. If you have less than 25k you are subject to pattern day trading restrictions.
I guess, if you have money, anything goes.
But now you need to wait for the cash to settle, which takes about two days.
Thanks!
That is an argument for making Online gambling legal. (I fully support it).
Online gambling is fine in principle, but it needs regulation to avoid overly predatory practices.
FWIW I'd rather people shoved some money in the stock market (but not options) than on (say) the football - most bad stocks do better than the ridiculous compound bets advertised here.
* Stock markets should be allowed because they allow for efficient allocation of capital, allowing for economic growth
* Access to stock markets should be available for all, for as cheaply as possible so everyone can reap the gains
So, the fact that stock market allocates capital efficiently is true in a broad sense but says nothing about how participation or regulation ought to look.
The second statement also is too vague. Stock returns should arguably be available to all, but activities like day-trading almost exclusively produce losers. Pretty much the only reliable way for the average Joe to make money on stocks is to passively invest, which again means this does nothing to justify the existence of Robinhood's model. Distributing the returns of stocks and design of the market are orthogonal issues, or if anything justify more restrictions.
If you want equitable distribution of stock returns you put everyone's money into a sovereign wealth fund that invests into some index fund and send everybody a check at the end of the year
I mean, the "optimal" way to invest is to buy a passively managed index fund and don't touch it until you retire, but how much of that should be baked into the regulation? Should we make the stock market off limits to the average joe except the most optimal choice?
>If you want equitable distribution of stock returns you put everyone's money into a sovereign wealth fund that invests into some index fund and send everybody a check at the end of the year
So... the SSA? The other problem I can see is that in a country that's distrustful of the government, citizens might be reluctant to hand their retirement plans to the government. After all, the fund can be raided by politicians for short term spending or otherwise mismanaged, causing adjustments to be made to the payout structure (eg. cutting benefits, or forcing people to retire later).