Berkshire now owns nearly 12% of Bank of America, and thousands of Robinhood traders have added it to their portfolios, as well. In fact, while Berkshire has pared down other major bank investments such as JPMorgan Chase and Wells Fargo -- which are also popular Robinhood stocks -- it has spent over $2 billion in 2020 adding to its massive Bank of America stake. It's also worth mentioning that Buffett isn't the only big investor who has a large position in the bank. The company offers a mobile app and website that offer people the ability to invest in stocks, ETFs, and options through Robinhood Financial and crypto trading through Robinhood Crypto. Only Apple is a larger component of Berkshire's portfolio. A quick glance at the 100 most popular stocks among Robinhood investors reveals four different stocks that are also components of Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) portfolio -- most of which were hand-picked by legendary value investor Warren Buffett.

Since then, Buffett has added considerably to the investment, including about $2 billion spread over several purchases in 2020.
Kearns' body was found last week beside some railroad tracks in nearby Plainfield, Ill. CNBC reported that a note left for his family said Robinhood had allowed him to take on far too much risk. Follow me on Twitter @skleb1234 or email me at sklebnikov@forbes.com, © 2020 Forbes Media LLC. nodes[i].dataset.subscription : nodes[i].getAttribute('data-subscription'); if(status ==='true') {nodes[i].checked = true;}}};var nodes = document.querySelectorAll('#form1783 select[data-value]'); if (nodes) { for (var i = 0; i < nodes.length; i++) { var node = nodes[i]; var selectedValue = node.dataset ? I am a New York-based reporter covering billionaires and their wealth for Forbes. © 2020, Nasdaq, Inc. All Rights Reserved. Here's what you get when you join Robinhood… The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Robinhood Markets, Inc. is an American financial services company headquartered in Menlo Park, California.

"When you're dealing with retail money and actively soliciting traders under 30 years old, to have errors like this is inexcusable and at the minimum negligence," he told CNBC. What's interesting is that, at the same time Berkshire has been building its Bank of America stake, it's been selling many other bank stocks. If you or someone you know is in crisis, please call the National Suicide Prevention Lifeline at 800-273-TALK (8255) or text TALK to 741741. )+[a-z]{2,63}/i);}, failureMessage: "Value must not contain any URL's"});field11.add(Validate.Presence, {failureMessage:"This field is required"});field11.add(Validate.Length, {tooShortMessage:"Invalid length for field value", tooLongMessage: "Invalid length for field value", minimum: 4, maximum: 4});function handleFormSubmit(ele) { var submitButton = ele.querySelector('input[type=submit]'); var spinner = document.createElement('span'); spinner.setAttribute('class', 'loader'); submitButton.setAttribute('disabled', true); submitButton.style.cursor = 'wait'; submitButton.parentNode.appendChild(spinner); return true; }function resetSubmitButton(e){ var submitButtons = e.target.form.getElementsByClassName('submit-button'); for(var i=0;iYes! Investors on the popular app-based stock trading platform also own many value stocks. The company will also donate $250,000 to the American Foundation for Suicide Prevention. Buffett and his team have unloaded billions worth of Wells Fargo, JPMorgan Chase, Goldman Sachs, U.S. Bancorp, Bank of New York Mellon, and several others. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Bill Brewster, an analyst at Sullimar Capital who is related to Kearns by marriage, said Robinhood should change how it displays information. Robinhood will hire a new “Options Education Specialist” to further enhance its new offerings. Robinhood … Should you join them? Having said that, there's quite a lot to like about Bank of America, especially while it's trading at such a steep discount. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Robinhood permits traders to trade more than 5,000 stocks and ETFs from their platform. )+[a-z]{2,})$/i, failureMessage: "A valid email address is required"});var dom2 = document.querySelector('#form1783 #field2');var field2 = new LiveValidation(dom2, {validMessage: "", onlyOnBlur: false, wait: 300});field2.add(Validate.Presence, {failureMessage:"This field is required"});var dom11 = document.querySelector('#form1783 #field11');var field11 = new LiveValidation(dom11, {validMessage: "", onlyOnBlur: false, wait: 300});field11.add(Validate.Custom, {against: function(value) {return !value.match(/(telnet|ftp|https?):\/\/(?:[a-z0-9][a-z0-9-]{0,61}[a-z0-9]\.|[a-z0-9]\. Robinhood traders are well-known for their love of high-growth stocks, particularly in the technology sector, but that's not all they buy. But these weren't exercised until 2017. Invest in stocks, options and ETFs (funds), all commission-free with the Robinhood app.

Now, Berkshire owns more than 1 billion shares of the bank, a stake worth about $25 billion.

Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. I would like to receive Nasdaq communications related to Products, Industry News and Events.You can always change your preferences or unsubscribe and your contact information is covered by our Privacy Policy. Matthew Frankel, CFP owns shares of Apple, Bank of America, Berkshire Hathaway (B shares), Goldman Sachs, US Bancorp, and Wells Fargo and has the following options: short January 2021 $23 puts on Bank of America and short November 2020 $22.5 puts on Wells Fargo. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. Previously, I worked on the breaking news team at Forbes covering money and markets. I graduated from the University of St Andrews in 2018, majoring in International Relations and Modern History. During the first quarter alone, Robinhood attracted 3 million new accounts. the note said, according to the report.

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