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Warren Buffett criticized trading platforms for turning investing into a game and resembling gambling parlors.1
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Buffett Mode is designed to gamify thoughtful long-term investing by giving investors the behavioral edge they need to minimize gambling and speculation and focus on value investing.
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Be disciplined every step of the way – The user experience includes prompts to interrupt speculative behavior.
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A flat monthly subscription model with zero commissions and zero additional exchange fees ensures the platform adapts to investors’ needs
Vancouver, British Columbia, May 15, 2024–(BUSINESS WIRE)–Mogo, Inc. (NASDAQ:MOGO) (TSX:MOGO), a digital asset and payments business, is a We want Canadians to stop losing money. has launched the world’s first “Buffett Mode” self-directed investing app to entrench the discipline, patience, and approach that legendary investor Warren Buffett has championed for years.
“The meme stock boom is another example of the problem we are trying to fight. Investors have been fooled into believing that the next 10-bagger stock is just around the corner and that FOMO-style investing is the best way to go.” Huge profits can be made when the reality is not far from the truth,” said David Ferrer, founder and CEO of Mogo. “The reality is that many investors are losing money, and the vast majority would be better off simply investing in the S&P 500.”2. Most of these trading apps look like gambling apps because they make much more money by letting you gamble than by investing. Buffett Mode is designed to gamify patient, long-term value investing based on Warren Buffett’s principles. ”
The new Mogo app includes a powerful combination of features to help Canadians become better investors.
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“Buffett mode”: Warren Buffett is widely considered the greatest investor of all time. Starting with $114, he built a fortune of over $100 billion. His strategies are recognized by many successful investors as the key to their success. It involves buying a company’s stock at a price below its intrinsic value. “Buffett Mode” is designed for anyone to invest based on Warren’s Buffett principles and helps reduce trading and speculation that often causes poor performance.While most trading apps focus on reducing friction to drive more trades, Buffett Mode add Friction helps users make more thoughtful decisions when buying and selling stocks, avoiding their natural instinct to gamble.
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Action edge when tapped: Warren Buffett attributes much of his success not to his high IQ, but to the right temperament. He believes that most investors fail because they lack the patience and discipline necessary to succeed. The Mogo app leverages behavioral science to gamify thoughtful long-term investing while also helping to minimize the speculation and gambling that gets many investors into trouble. The Build Your Legacy calculator also helps inspire investors to focus on long-term wealth-building strategies rather than get-rich-quick approaches that usually result in losses.
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Wrong functionality is gone: Most trading apps have features designed to facilitate trading activity rather than helping investors improve their returns. Mogo omits many of the features that encourage speculation, such as margin trading and options trading.
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Learn more every day: Mogo incorporates Warren Buffett’s teachings throughout the app, as he said, “The more you learn, the more you earn.”
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Simple pricing model: As Charlie Munger said many times, “Show me the motivation and I’ll show you the result.” Mogo’s unique $15/month subscription helps us align our economic model with our users’ success, as opposed to traditional models focused on driving trading activity. Mogo charges a flat fee for every trade, whether it’s one transaction or 20, with zero commission fees or additional exchange fees.
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More money, more impact: Buffett is not only one of the greatest investors of all time, but also one of the greatest philanthropists of all time. Mogo users are making a positive impact every month by helping replant Canadian forests devastated by wildfires. Our communities have already planted nearly 3 million trees.
Canadians can open a Mogo account today by downloading the app on the App Store and Google Play.
The Mogo app incorporates Warren Buffett’s investment principles in functionality, design, and content. We are not endorsed by or affiliated with Warren Buffett.
About Mogo
Mogo Inc. (NASDAQ:MOGO; TSX:MOGO) is a digital wealth and payments company headquartered in Vancouver, Canada, with over 2 million members, $9.9 billion in annual payments, and one of Canada’s leading cryptocurrencies. It holds up to 13% of the stock in the WonderFi exchange. (TSX:WNDR). Mogo provides simple digital solutions to help our members dramatically improve their path to wealth creation and financial freedom. MOGO offers commission-free stock trading and helps users invest thoughtfully based on Warren Buffett’s approach to long-term investing, while positively impacting every investment. Moka offers Canadians fully managed investment solutions based on outperformance of S&P 500 strategies, at a fraction of the cost, and a true alternative to overcharging and overperforming mutual funds and wealth managers. Provide choices. Through its wholly-owned digital payments subsidiary, Carta Worldwide, Mogo also provides a low-cost payments platform that powers next-generation card programs for businesses in Europe and Canada. The company was founded by him in 2003 and has approximately 200 employees with offices in Vancouver, Toronto, London and Casablanca.
Forward-looking statements
This news release may contain “forward-looking statements” within the meaning of applicable securities laws. This includes descriptions of the app’s expected features and investment results related to the app and Buffett Mode. Forward-looking statements are necessarily subject to significant business, economic and competitive uncertainties and contingencies, although they are believed to be reasonable by management at the time they are made. may prove to be inaccurate. Forward-looking statements typically include words such as “may”, “will”, “could”, “will”, “anticipated”, “believe”, “anticipated”, ” Identified by words such as “intend,” “might,” and “estimate.” , Expressions such as “budget”, “plan”, “plan”, “schedule”, “forecast”, and “target”. Forward-looking statements involve known and unknown risks, uncertainties and actual financial results, performance or achievements expressed or implied by such forward-looking statements and forward-looking statements. It includes other factors that could cause estimated future results, performance or achievements to differ materially. Appearance statements are not guarantees of future performance. Mogo’s growth, ability to expand into new products and markets, and expectations regarding future financial performance are subject to many conditions, many of which are outside of Mogo’s control. For a description of the risks associated with Mogo’s business, please refer to the “Risk Factors” section of Mogo’s most recent annual information form available at www.sedarplus.com and www.sec.gov. Except as required by law, Mogo undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
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[1] Warren Buffett: 2021 Berkshire Hathaway Shareholders Annual Meeting.
[2] Dalbar, “23rd Quantitative Analysis of Investor Behavior,” 2017.
View source version on businesswire.com. https://www.businesswire.com/news/home/20240515988924/ja/
contact address
For more information:
craig armitage
PR for investors
investor@mogo.ca
(416) 347-8954
US Investor Information Contact
Lytham Partners LLC
Ben Shamsyan
New York | Phoenix
shamsian@lythampartners.com
(646) 829-9701
