Beyond GameStop: the day trader turned investor

Money Clinic with Claer Barrett

Young investors have rushed to open day trading accounts under lockdown, using tips gleaned from chat rooms and social media as they attempt to make a fast buck. But betting on short-term market movements carries a high risk of losing money — something that 19-year-old Ross has found out the hard way trading stocks like GameStop and AMC. If he invested his money for a matter of years instead of a matter of minutes, would he get a better return? Claer Barrett hears from experts Merryn Somerset Webb, the FT columnist and editor-in-chief of MoneyWeek, and Damien Fahy, founder of investment website Money to the Masses.

If you would like to talk to Claer for a future podcast episode, email the Money Clinic team [e-mail] with a brief description of your story. Follow Claer on Twitter and Instagram @Claerb and read her weekly Serious Money column.

Read more:

-Claer’s thoughts about good investment habits to build for the future: Where do the next generation of investors go from here?

-Merryn Somerset Webb’s column every Saturday in the Weekend FT. Follow her @MerrynSW

-Damien Fahy’s website Money to the Masses for information about investing, including a blog about his own £50,000 portfolio and a podcast. Follow him @Money2theMasses

-And finally… those book recommendations. From Merryn: Investing for Growth by veteran fund manager Terry Smith; Effective Investing by former Hargreaves Lansdown research director Mark Dampier, and The Anatomy of the Bear by Russell Napier, the equity market strategist (disclaimer: Merryn wrote the introduction to the new edition). From Damien: How to own the world by Andrew Craig, adding that this book “explores the whole concept of why you’d want to invest”

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