Regarding Friday’s missive about Robinhood, a reader writes: “Thanks for your input and advice.
“I read that a young man who traded with Robin Hood recently committed suicide as he had lost a lot of money with them.
“Are you aware of this and why he was so desperate as to kill himself. Was this perhaps due to trading with options or some other reason?”
Sadly, a twenty-year old took his life in June, believing he had a negative balance over $700,000 on the Robinhood app. According to Barron’s, “The negative balance appears to have been a notification having to do with a portion of an options trade, and did not represent an actual liability.” Again, terribly sad.
And for more on news consumption, a reader makes a distinction…
“I stick to newspapers because they have journalistic standards the fake news (Fox, Breitbart, Rush Limbaugh, Alex Jones, etc.) all lack. I don’t need to read or hear about unsubstantiated conspiracy theories from very unreliable sources.”
Hmm… do you agree? Think print media has a leg up when it comes to truth in journalism?
Check back Wednesday for more of your opinions… including a particularly vitriolic response aimed at The Rundown.
Send your opinions to, TheRundownFeedback@SevenFigurePublishing.com.
Your Rundown for Monday, Aug. 17, 2020
The Other Precious Metal Rally
While the price of gold consolidated last week, silver’s price is up over 3% this morning.
Over the past month, in fact, silver has surged to prices not seen in seven years when it caught a bid last week over $29 per ounce. All told, silver’s up 39% since mid-July.
So what’s behind silver’s revival? The drivers behind silver’s surge are threefold…
First, central banks’ money printers are operating at maximum capacity, injecting cash into economies to staunch the pandemic’s fallout. (So-called “monetary easing.”)
And everyday folks are getting uneasy about easy money… And hard assets are looking better and better.
Second, bond yields are ludicrously low, and in some instances, heading into negative territory. So investors are scrambling for yield. (How about 39% returns in four weeks? Yes, please.)
Third, a weak U.S. dollar has investors piling into silver.
But does silver have room to grow?
CNBC reports: “The fact that the silver price is still only halfway to its record high of over $48 in April 2011, while gold has already topped previous records, is helping attract investors to the former.”
Get in while silver’s still on the way up.
Market Rundown for Monday, Aug. 17, 2020
S&P 500 futures are up 17 points to 3,378.
The price of oil stands pat: $41.98 for a barrel of West Texas crude.
Gold is up 1% to $1,970.20.
Bitcoin is up $78.75 to $11,996.29.
Send your comments and questions to, TheRundownFeedback@SevenFigurePublishing.com.
Hope your week gets off to a great start. We’ll have more to say Wednesday.
For the Rundown,