{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Ep #71 - Why Robinhood Needs More Oversight","description":"In recent years, the online trading platform Robinhood has been gaining popularity among typically younger and novice investors, mainly because they have no minimums or commissions. However, there are some things about the way Robinhood operates that are not always in the best interests of the users. In this episode, Grant reviews how this brokerage firm is set up, how they make money, and what you should keep in mind if you\u2019re trading on Robinhood. [01:37] Background \u2013 Robinhood\u2019s origin story and how it forced many other brokerage firms to drop commissions to zero. [04:39] Day Trading Mishaps \u2013 Grant reviews one of the horror stories related to day trading on Robinhood, where one investor ended up getting a massive tax bill because they didn\u2019t understand the rules around trading. [08:09] Wash-Sale Rule \u2013 The IRS has set up a rule related to wash sales that get triggered when you trade frequently. Grant dives into how this rule can lead to massive tax bills for day traders on Robinhood. [12:24] How Robinhood Makes Money \u2013 Grant reviews how Robinhood\u2019s commission-free business model works, how it differs from a traditional brokerage firm, and one revenue source that put Robinhood under scrutiny in the investor community. [22:56] Unnecessary Trading \u2013 Some of Robinhood\u2019s features are designed to encourage users to make more transactions. Grant explains why this practice does not work in the best interests of Robinhood users. [29:47] Strategies for Robinhood Users \u2013 Grant shares his take on some of the strategies Robinhood users could implement to build a robust investment portfolio. &amp;nbsp; &amp;nbsp; Resources: Episode #63 - Anatomy of a Short Squeeze: GameStop FAQs:  growmoneybusiness.com\/podcast\/x9ykf9576e352jd-xs3l5-l355n-pc3nj-4l3tz-fsye7-g9gha-tdcyt-b7r9a-wja6y-ksbz4-9nlgl-559ba-3ncam-2dr43-h4bxz-jnxfw-ae9jc-wl66p-5ss8r-cnaej-4w6y7-pbr3p-dp97g-ar28b-yxwr5-tlyth-hbf5c ","author_name":"Grow Money Business with Grant Bledsoe","author_url":"http:\/\/growmoneybusiness.libsyn.com\/website","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/18616994\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/item\/18616994"}