Matt Levine’s Money Stuff: Robinhood Adds Some Agents

Agentic Robinhood

For a while now, I have argued that “eventually, every possible trade will be packaged into an exchange-traded fund.” Brokers and wealth advisers have a long history of coming up with complicated ideas to pitch to their more adventurous clients, but ETFs allow brokers to put quite complicated pitches into something you can buy with a click of a button. Ideas like “buy stock and sell call options on it” or “borrow money to buy more stock” or “borrow money to buy Bitcoin and gold” or “long Nvidia short Intel” ...