Charlie Munger calls Robinhood a ‘gambling parlor,’ says it’s ‘sleazy’

Charlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, slammed commission-free trading app Robinhood as being “beneath contempt” in a new interview.

“It’s a gambling parlor masquerading as a respectable business,” the 97-year-old investor told CNBC late Tuesday. “And it’s telling people they aren’t paying commissions when the commissions are simply disguised in the trading.” “It’s basically a sleazy, disreputable operation. And the interesting thing about it is that some good people you would be glad to have marry into your family have backed it,” he added.