Radhika Gupta, CEO of Edelweiss Mutual Fund, recently took to X to voice her concerns about the alarming trend of young people funding their lavish lifestyles through high-risk investments. Her post emphasized the findings of the Economic Survey 2023-24, which points out the hazards of such practices for both individuals and the economy.
"I have seen people in their 20s saying they don’t need to work, because they are busy doing F&O. Young women who say their lifestyle and handbags are funded by trading gains. The Economic Survey highlights this in some very strong language. Other regulators have also rightly and repeatedly warned us about this. It is time something is finally done about this form of liquidity that is both unproductive for the economy and dangerous for the individual," Gupta posted on X.
Gupta's post has sparked a range of responses from other users, echoing her concerns and calling for more stringent regulatory measures to address this growing issue.
One of the users said, "Government is worried about derivatives but not worried about online gaming platforms which are nothing but casinos !! People loose more money on that platforms then stock exchanges !"
Another user wrote, "20-25 year olds are talking about crores they have made with trading where they don’t feel the need to ever work. This is all on YouTube podcasts peddling fire and financial freedom to people in their 20s Something is seriously wrong when there is such a dearth of jobs on one side and educated youngsters entering the workforce"
A user replied, "Do these guys have the guts to ask the government why there's a weekly expiry for F&O trading if it's so dangerous? It benefits brokerage firms and the government financially. Fake narrative or concerns !!"
2024-07-26T15:25:56Z dg43tfdfdgfd