Ep. 1966: The Casino Next Door

Robinhood says it wants to be everything to investors—but its fastest-growing attractions look a lot like a casino. Don and Tom examine prediction markets, options, crypto, payment for order flow, and the uneasy fit between fiduciary advice and a brightly lit door to speculation.They explain why gamification and enormous transfer bonuses can be especially dangerous for inexperienced investors. If the goal is long-term wealth rather than entertainment, a boring, diversified custodian still beats a platform built to monetize trading excitement.Then they answer questions about using bonds during a retirement downturn, combining CD ladders with target-date funds, the trap behind eye-popping mortgage REIT dividends, and better ways to give money to grandchildren.1:03 — Robinhood and its merry band of revenue streams3:00 — Vlad Tenev explains the financial supermarket5:36 — A fiduciary office beside a casino door8:28 — Monetizing speculation instead of investing13:14 — Using bonds when retirement begins in a downturn21:06 — CD ladders and target-date funds23:36 — The truth behind 17% REIT dividends27:28 — UTMA, UGMA, 529s, and gifts for grandchildrenQuestions? Comments? Click!