Heis like a huge Internet investor and a basketball team owner. He knows what’s up.
“Pick the brokerage with the strongest balance sheet. What ruined it on RH is that they didnt have enough cash to deal with the growth in accounts, margin loans and volatility. The EXACT SAME THING will happen at the next broker if you dont make sure they have a MULTI-TRILLION dollar balance sheet to be able to handle these kind of circumstances”
“And there will be class action suits. And they will be combined and they will win and you will get a check for less than $10”
“That said, you will do all this again. You will go after WS and the next time you will be smarter. There was only one thing that messed you all up:”
“RobinHood and the other zero commission brokers that everyone used didnt have enough capital to fund the fight. They let you down in a big way. When you load back up, fight a broker with TRILLIONS OF DOLLARS in assets on their balance sheet. Someone that can be there when the fight starts and wont blink an eye. No disruption is easy or happens in a straight line. Stay with it. I am a believer”