As a Nottingham-based company, T. Bailey Asset Management (TBAM) has an affinity with Robin Hood. Our offices are a few hundred yards from the Robin Hood statue which sits outside the walls of Nottingham Castle. The same offices were constructed in the late 1700s for the then Sheriff of Nottingham.
So, when we hear of a Robin Hood investment app becoming quite the thing for individual investors in the US, we take note. It was expected to migrate to the UK.
As I was composing this blog, news came through that Robin Hood was pulling their UK launch.
Possibly a wise move given the press reports of the newly unemployed in the US using their sizable benefit payments as a consequence of Covid-19, to ‘play’ the stock market.
Source: The Wall Street Journal – for both charts
Buoyed by getting on board with what has gone up has been a great story for some but for some others who may have believed this is an easily repeatable feat, stories of suicides and huge debt accumulation suggest otherwise. Financial markets are not a casino and investors might want to seek help from a financial adviser to establish their investment goals.
As a Nottingham-based business, we are proud of our association with the city and its heritage. TBAM supports The Robin Hood Fund, launched to raise money to help vulnerable people in need. www.robinhoodfund.org