Should Robinhood Investors Worry About Charlie Munger's Criticism?

If you're a new investor who uses the red-hot Robinhood brokerage app, you may have been surprised by comments from Warren Buffett's partner Charlie Munger on Wednesday. Speaking at the Daily Journal Corporation annual meeting, Munger criticized what he viewed as rampant and ill-informed speculation in the market right now, done by people "who have the mindset of racetrack bettors." Munger also specifically called out new brokerages, mentioning Robinhood specifically, for encouraging dangerous behavior.