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Robinhood admits it’s just a gambling app. (www.theverge.com)

submitted 1 day ago by [email protected] to c/[email protected]

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[–] [email protected] 3 points 7 hours ago* (last edited 7 hours ago)

If you're investing more than a few percent of your portfolio in any one company, you're probably gambling though.

I read a forum post many years ago about people that put all their retirement money into some company that was going to be the sole supplier for some components for the iPhone. Apple didn't end up going with them, and the company was relying entirely on that contract. The company went bankrupt, and the people that invested lost all their money.

In the end, why invest in a small number of companies when you can invest in practically all of them? Bogleheads three fund portfolio (total US stock + total world stock + bonds) is very simple yet will beat most actively-managed portfolios over the long run.