Earlier this year, we criticized E*Trade for their “it’s-so-easy-a-baby-can-do-it” rendering of trading. In our mind, it’s definitely misleading material- at best. But we weren’t the only ones who thought so…
CollegeHumor.com, known for their humorous videos and articles that rely on parody to get a laugh, put together a video called “E-Trade Baby Loses Everything.” The video showed another adorable tot, but in a move that more closely mirrors reality more often than not, the onesie-clad trader loses everything in a matter of moments… with hilarious consequences. The video ended with the jab, “E-Trade- You can’t take it back.”
We saw this a while back, got a kick out of it, and ultimately decided it didn’t necessarily warrant a blog post. However, the video has gotten new legs today as people have applied it to the blow-ups in Gold and Silver. We laughed as we watched it again, but what was even more amusing to us was learning that E*Trade tried to have the video removed for copyright infringement. Fortunately for viewers everywhere, it didn’t stick, as the video is still available for use (nor should it have- the courts have previously held that parody falls under fair use provisions of copyright law).
Sensitive, much? To borrow from Jack Nicholson in A Few Good Men, maybe they can’t handle the truth…
But for us- it’s just a more realistic representation of the likely outcome of trading on your own with no more experience than a toddler. Yes, the video is funny, but it should also remind us that trading stocks and futures can present a substantial risk of loss.
You can see the video here- but fair warning- don’t click if you can’t stomach a few 4-letter words: https://bit.ly/olHgrN
