Bloomberg: iPhone App Robinhood Lets You Trade Stocks for Free. What Could Possibly Go Wrong?

There's a lot of new technology coming to market and it can be hard to keep up with it all. I recently chatted with Bloomberg about a new trading app geared towards millennials, Robinhood. Here's an excerpt:

Allowing millennials to buy stock with leverage and go short, let alone trade for free from their iPhones, could get ugly, says Kate Holmes, founder of Belmore Financial, a Las Vegas-based financial planning firm that caters to the generation. Many Americans aged 18 to 34 Robinhood’s target demographic are financially illiterate, she says. “I keep hearing people who don’t know what a mutual fund is say, ‘I’d like to trade stocks,’” says Holmes, herself a millennial at 31. “Please do not encourage anyone to trade on margin!” she adds.