Robinhood

BECKY QUICK: This question comes from Robert Miles in Nebraska. “The trading apps. What do you think about Robinhood and other trading apps, or fintech companies, enabling all ages and experience to participate in the stock market?” WARREN BUFFETT: (Laughs) Well, I’m looking forward to reading the S-1 on Robin — that’s the big thing you file with the SEC when you’re going to be offering securities., and — It’s — you know, it’s become a very significant part of the casino aspect — of the casino group — that has joined into the stock market in the last year or year and a half. And I do want to say I’m concerned of how they handle the source of income when they say they don’t charge the customer anything. I mean, you know, I’m — it’ll just be interesting to watch how they describe it. I mean, but — But they — they have attracted — maybe set out to attract — but they have attracted, I think I read where 12 or 13% of their casino participants were dealing in (option) puts and calls. I looked up on Apple, you know, the number of seven-day calls and 14-day calls outstanding. And I’m sure a lot of that is coming through Robinhood.