New poll shows 64% of people believe the stock market is rigged

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A new poll shows that the majority of people believe the stock market is rigged against amateur investors in favor of large and professional investors. FrankLuntz explains the poll's findings.

A new poll shows that the majority of people believe the stock market is rigged against amateur investors in favor of large, professional investors.

Pollster Frank Luntz did a deep dive Tuesday evening with a focus group to get a sense of how folks are feeling about hedge funds and Robinhood. He joined "Squawk Box" on Wednesday to discuss his findings.

 

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FrankLuntz ‘Financial institutions and other big traders like dealing with small investors because, as a rule, they aren’t well-informed about market moves, and individually, they are too small to move prices.’

FrankLuntz A new poll shows that the majority of amateur investors don’t know how the stock market works would be a more accurate headline

FrankLuntz This is crazy!?!? Even after CNBC shilled for hedge funds for days and weeks How can people form their own opinion? You mean they don’t just believe what CNBC tells them? It’s almost as if CNBC has zero credibility?

FrankLuntz “Rigged how?” should have been the follow up.

FrankLuntz Isn’t it really just the luck of the draw. So many factors have existed in the last year. If everyone could do it there would be no mystery

FrankLuntz Kinda is, just legally..new regulations and guidelines need to be established

FrankLuntz amateur investors who buy index ETFs (per Warren Buffett's advice) will do very well they'll outperform many of the pros, in fact

FrankLuntz

FrankLuntz Did you hear what happened to the Robinhood faq? They used to have one but it was filled with antisocialist propaganda instead of investing information. It went viral and they took it down.

FrankLuntz Winning trades are genius decisions... Losing trades are due to market manipulation... I blame that mindset on participation ribbons.

FrankLuntz These days money is just numbers in a computer, and I think dragging all this detail into it obscures that.

FrankLuntz It's very much rigged.

FrankLuntz It is

FrankLuntz Oh really even I didn't know that!!!!

FrankLuntz Of course we rig the market! We can rig the markets just as easily as we can rig elections!

FrankLuntz I wonder if these same people think poker is all luck?

FrankLuntz This is what happens when nobody corrects the incorrect narrative that went on for 2-3 weeks

FrankLuntz cnbc andrewrsorkin robinhoodApp schwab etrade TDAmeritrade MerrillLynch Fidelity jpmorgan GoldmanSachs coinbase I think there is an inequality among retail investors & the Top 1% of US. Retail investors don't qualify for Hedge Funds. Cont'd

FrankLuntz It’s pretty obvious that the system is rigged. You shouldn’t be allowed to use computer algorithms to trade, and if they are going to allow it, then allow everyone to Day Trade without the $25k rule. That tule was put into place in a much different time.

FrankLuntz And you have Luntz and Sorkin wanting to know the thoughts of amateur investor...🤣🤣🤣

FrankLuntz - Losing money on meme stocks does not mean it's rigged. It means you didn't estimate risk properly. - Many professional traders underperform the market. Stock picking is hard. - Free trading (i.e. Robinhood) isn't free. Someone has to be paid to make trades happen.

FrankLuntz Does it make sense to make a poll like this right after the event with Robinhood and GME when the vast majority of regular people doesn't understand basic rules brokers like Robinhood has to follow? This is literally the reason people don't trust polls anymore.

FrankLuntz Are they wrong though?

FrankLuntz Complete bullsh*t. Patience on when you hit BUY button and Control when you sell and you’ll make money. 99% are either too greedy don’t research.

FrankLuntz It’s always been like this right? I pick up what scraps I can get :)

FrankLuntz andrewrsorkin why always luntz? are we fresh out of objective pollsters or does the small mammal on frank's head draw ratings?

FrankLuntz It's only rigged if you're on Robinhood, not up at 9AM to watch the rise before the fall, and don't sell before the fall to buy more. If you're just checking, and whining when things are down, you're not gambling correctly.

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