“Robinhood co-CEO says young traders see market downturns as buying opportunities for the long term”
October 27, 2020
“The young customers of Robinhood are actually smart, long-term oriented investors who recognized that the market sell-off in March was a buying opportunity, according to the zero commission pioneer’s co-founder.
“What we’ve seen is they typically see volatility and market downturns as buying opportunities, just because they’re at the beginning of their investing journey and think they recognize that there’s many, many decades for things to, to smoothen out in front of them,” co-founder and co-CEO Vlad Tenev told CNBC’s “Squawk Box.”….”
I’ve been saying this for a while now. Dramatic price drops in stock should be looked at as a type of “discount sale.” You want know know how the rich get richer? I will tell you. During recessions and depressions they buy stock on the cheap. They collect dividends while holding them then sell if they want during good times. This is a strategy more people should look into when dealing with stock. Everyone needs a reserve for when the stock market takes major dips. That’s the time to buy not necessarily sale. Never panic sale. Always have a plan.