|
|
|
|
|
|
by SnakePlissken
4102 days ago
|
|
|
Not to defend stockbrokers, but part of what made the tech bubble so uniquely frothy was that it was the first time retail investors could easily circumvent the Wall Street gatekeepers via online, discount brokerages. No doubt many mom and pop investors were led into the bubble by advisors, but a sizable portion entered the fray on their own. For a brief time, many malls had trading boutiques, Internet cafés that catered to aspiring traders. Police officers and schoolteachers were quitting in droves to daytrade. CNBC was on in every coffee shop across the country. It's common to hear financial pundits comparing it to the mania of the 20s, when shoeshine boys were offering hot stock tips. I'm not sure we could ever see that level of participation from crowdfunding, but I think you're correct to worry that retail investors will continue to behave irrationally, with or without predatory advisors [0]. [0] http://www.joshuakennon.com/gt-advanced-technologies-bankrup... |
|
|
I would not bet on that. There could be loads of startups that work to further 'democratize' this.