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Public Investing App Review - The Stock Market Trading App For Beginners - YouTube
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- So you have commission-free
stock trading apps,
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and you have investing apps
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that let you invest in fractional shares.
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But how about a single investing
app that lets you do both.
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Well today, we're going over Public,
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a new commission-free stock trading app,
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that aims to make investing accessible
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to everyone by letting you invest
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in small slices of major companies.
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(upbeat music)
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Hey, welcome back guys.
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This is Erik of EverydayInvesting.com
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And on this channel,
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I'm all about helping
the everyday investor,
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like you and I, get started
saving and investing.
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So as always, if you have any questions
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after today's video on the Public app,
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definitely feel free to leave
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your questions down below in the comments,
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I'm always happy to answer those for you.
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Today we are in fact going over
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the new Public investing app,
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and I'm happy to share with you guys
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that I've just recently
partnered with Public,
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to help the Everyday Investing
Community get started
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with a special signup bonus.
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So if you're new to Public
and would like to try it out,
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definitely be sure to
stay tuned until the end
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of the video, where I'll
show you how you can get
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a free stock slice when joining the app.
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Also guys, just to let you know,
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if at any point of today's video,
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you would like to jump ahead or jump back
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to any particular feature of the app,
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I'll be sure to include
timestamps down below
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in the description box,
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as well as a link to my more full
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in depth review of the
Public app on my blog.
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So for starters, what is the Public app?
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Well Public is a new
commission-free stock trading app,
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that aims to make investing
accessible to everyone.
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Available on both iOS and Android devices,
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Public really excels at
slicing stocks into tiny bits
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so that anyone can afford
to own any public company.
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And if you're wondering
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what commission free stock trading means,
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that essentially means that there
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are zero fees or commissions,
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it's a both buy or sell stocks on the app,
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nor are there any monthly
account maintenance fees.
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And while there are already
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some popular commission-free
stock trading apps out there,
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such as the Robinhood
app or the Webull app,
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the unique thing about
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Public's commission-
free stock trading app,
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is that they also allow you to invest
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in fractional shares of stocks,
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or what they refer to as slices.
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But we'll go more in depth
about that in just a bit.
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Now, before we get into
the features of the app,
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I do want to take a brief second to cover
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my experience signing
up with the app itself.
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Now, as I said earlier, Public's mission
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is to ake investing
accessible to everyone.
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And because of that,
not only can you invest
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in slices of major stocks, but there's
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also no minimum investment required
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to open up a Public account.
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And for me personally, one of the things
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I enjoyed about the actual signup process,
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was that how seamless it was.
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I would have to say
probably within 10 minutes,
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I had my account up and
running, I was signed up,
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I had full access to navigating the app,
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and I even had instant access
to trading with my funds
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that I had just deposited
from my bank account.
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Now, I really liked that with Public
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because not all investing apps give
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you instant access to
trading with your funds.
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Some make you wait a few
days for the transaction
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to officially clear, but with Public,
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you have instant access
to trading your funds,
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just something I thought I'd mention.
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Now, if you're wondering what investments
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are actually available on the Public app,
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Public does give you access to thousands
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of individual stocks and ETFs
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across the entire US stock market.
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And if you're wondering
what an ETF stands for,
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an ETF means Exchange Traded Fund,
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and that is basically a group,
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or a theme of related stocks bundled
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into one single diversified investment.
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Now for all my friends out there
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who love stocks that pay dividends,
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you're going to love this next
feature on the Public app.
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I did ask the team over at public,
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how do they handle dividends
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if you own a stock that pays dividends?
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And the way it works is by default,
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your dividends will be deposited
into your cash balance.
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However, you do have the
option to ask or opt in
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for automatic dividend
reinvestment just the same.
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So just something I thought I'd mention,
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if you own stocks that pay dividends,
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you'll probably really like that feature
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about the automatic dividend
reinvestment option.
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All right, guys, so now we're going to get
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into the main features of the Public app
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that really separate it
from the competition.
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Now by far, I think the greatest strength
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of the app itself is it's slices.
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And with slices, these are also
known as fractional shares,
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but they are referred
to as slices on the app.
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And with slices, Public
lets you slice major stocks
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into tiny bits so that anyone can afford
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to own public companies.
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So if you've ever wanted
to own major companies
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like Facebook, Google, Amazon, Starbucks,
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Netflix, FedEx, Walmart, any
of these major companies,
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but you couldn't afford
to buy a full share,
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which usually costs hundreds of dollars,
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you can now buy slices of the stock.
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You can own $5, $10, $20 worth
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of any of these major companies,
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right into your investment portfolio.
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Now at the time that
I'm filming this video,
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Public currently does give you access
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to hundreds of individual stocks and ETFs
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that you can buy slices
or fractional shares of.
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And I was also told by
the team over at Public
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that they do plan on expanding this list
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as the year goes on and as time goes on.
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So you really will end up with
an even more expansive list
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of hundreds and hundreds
of individual stocks
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and ETFs that you can
buy fractional shares
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or slices of straight into your portfolio.
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Now I know what you may be thinking,
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"Investing in fractional shares
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isn't exactly something new Erik."
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And you would be right.
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While there are already popular
investing apps out there,
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that let you invest in fractional shares,
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such as the Stash app and the Acorns app,
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neither one of those
apps is commission-free.
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Both of those apps have monthly user fees.
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And on the other hand,
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you do have popular
commission-free stock trading apps
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out there, such as Robinhood and Webull,
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but neither one of those apps lets
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you invest in fractional shares.
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So the unique advantage
of Public slices are that
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it kind of gives you
the best of both worlds.
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Not only can you trade
stocks commission-free,
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but you can also invest
in fractional shares.
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And as an investor, that
gives you a great advantage,
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especially if you're just getting started,
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so you don't have to buy full shares
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that usually cost hundreds
of dollars a piece.
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Hey, before we hop into the next feature,
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I just wanted to ask
you for a quick favor.
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If you're finding this video helpful,
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can you like this video?
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I'd really appreciate it
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if you could hit that like button for me.
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All right, let's jump back into it.
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Now, if you do want to
buy full shares of stocks
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on the Public app, you can
definitely do that just the same.
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And actually by buying
full shares of stock,
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you actually gain access to a couple
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of advanced order types that
are available on the app.
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And the different advanced order types
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Public currently offers are market orders,
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limit orders and stop orders.
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Now by default guys, the
default order type will
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be market order and that will buy
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or sell your stock immediately.
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And if you want to use one
of stop or limit orders,
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that will actually allow
you to set your buyer
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or sell price points,
and I really like this
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because it will allow you
to help automate your traits
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even when you're away from your phone.
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The next feature I want to cover
are their investing themes.
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Now, if you're new to investing
and not sure where to start,
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Public does offer a
selection of different themes
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of stocks for you to explore.
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So I want to go over a couple of
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the different themes they
have on the platform.
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They're over 50 themes,
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but here's just a couple
of give you an idea.
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So I wrote some of
these down for you guys.
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Some of the examples of
investing themes available
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on their platform are tech giants,
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the most influential and
powerful tech companies.
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Slices, stocks you can buy
with any amount of money.
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Most popular, the most
popular owned stocks
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in the Public community by Public users.
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You also have real estate,
companies that build homes,
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develop buildings and manage properties.
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Some other interesting ones
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I thought were software and cyber,
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companies pioneering
software and cybersecurity.
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Retail, companies that own
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and operate household name brands.
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And again, like I said,
guys, several more,
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they're over 50 of these themes for you
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to explore once you get inside the app,
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to really help give you
some ideas of stocks
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you might want to consider investing in.
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The last trading feature I
want to go over on the app,
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is their social investing
through public portfolios.
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Now, as I said guys, Public's mission
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is truly to make investing accessible
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to the everyday investor.
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And because of that,
they've directly built in
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an optional social aspect
right in to the app itself.
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Now unlike most traditional brokerages
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or most other investing apps out there,
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Public does give you the option
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to make your portfolio public.
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You can easily share your
real time investments
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and make that public on
your Public portfolio,
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or you can easily turn
this off just the same
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if you want a little more privacy.
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If you're new to investing
and not sure where to start,
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Public social aspect really
gives you the investor,
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the opportunity to learn from each other,
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exchange ideas and even
discover new stocks
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by following experienced
investors, industry experts,
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or even simply following your friends.
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Because on Public, it's really easy
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to follow your friends,
comment on their trades
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and even share your own
trades back with them.
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And if you're concerned
about privacy like I was,
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you can actually go
inside the app settings
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and turn off the actual
dollar amounts displayed
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on your Public portfolio.
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Now, another question you
might be wondering is,
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"What happens to the uninvested cash
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sitting in my account?"
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Well, that's actually
another beneficial feature
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with Public, because
they actually give you
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a very generous interest
rate on your uninvested cash.
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At the time of filming this video,
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they currently give you
a 2.5% APY interest rate
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on up to $10,000 of uninvested
cash in your Public account.
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Now that's a very generous
interest rate guys,
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especially when you compare
that to major banks.
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So just Chase or Bank of America,
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which typically give you
around a 0.1% interest rate,
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that's about 25 times more
interest on your uninvested cash.
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Another question you
might be wondering is,
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"Are there any fees?"
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Again, guys, just to recap,
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Public is a commission-free
stock trading app,
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which means there are zero
fees to buy or sell stocks.
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There are no minimum account requirements,
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nor are there any monthly
account maintenance fees.
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All in total,
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Public is a completely
commission-free platform.
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And one important question
I always ask before
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I start with any new investment brokerage,
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"Is investing on this platform safe?"
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Well, Public is a member of the SIPC,
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which is the Securities
Investment Protection Corporation.
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Which means securities and user's accounts
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are SIPC insured for up to $500,000,
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including up to $250,000 in cash.
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If you want to learn more
about SIPC insurance,
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the insurance for investment brokerages,
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you can learn more at sipc.org
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but that's always something
you want to look for
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with any new investment brokerage,
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are they SIPC insured?
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And Public definitely is.
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All right guys, before
we wrap up this video,
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I just want to briefly go over it,
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my final thoughts on the
pros and cons of this app.
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And briefly discuss what type of investor
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Public is ideal for, versus
what type of investor
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Public may not be as ideal for.
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So let's first start off with the pros
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of the app and who it's most ideal for.
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Firstly, I would say Public is definitely
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an ideal option worth
considering for new investors.
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Because being able to
invest in smaller slices
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of stocks means that even new investors
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can easily get started
investing in major companies.
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And not only can you invest in
these slices commission-free,
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but if you're unsure where to start,
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again, you can always explore through
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their handful of different
investing themes,
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or even if you use some other people's
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Public portfolios to help
give you some inspiration.
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The last reason I think this is ideal
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for new investors is that the app has
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a very user-friendly design.
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And while it may appear
simple on the surface,
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I actually think this clutter-free design
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actually makes navigating the app
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a more enjoyable experience.
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The second type of investor I would say
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that Public is ideal
for is for the investor
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who wants to add a social
aspect to their investing.
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Now, even though it's still
very early in its development,
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I will say that Public is
the most social investing app
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that I've ever come across.
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It definitely gives you
a sense of community,
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by being able to follow and
share trades with your friends.
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So if a sense of community
is something you value
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with your investing, then the Public app
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may be an ideal option for you.
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And the third type of investor that
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I would say Public is ideal for,
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is actually for experienced
investors and stock traders,
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who simply want to save on commissions
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or earn more interest on
their uninvested cash.
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Because again guys, with Public,
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there are no surprise
trading fees or commissions.
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And if you're a more experienced investor,
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you actually do have access to
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a couple of advanced order types,
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such as limit orders and stop orders.
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Again, these will help
you automate your trades.
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And if you simply want
to earn more interest
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on your uninvested cash,
Public does give you
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that 2.5% APY interest
rate, which is a lot higher
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than most other investing brokerages.
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Now I want to briefly go over
the cons of the Public app
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and discuss who this app
may not be as ideal for.
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Now honestly guys, this
was actually pretty tough
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for me because I couldn't really come up
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with many negatives to say about the app.
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As far as I'm concerned,
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they pretty much covered all the bases.
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However, these are the two
cons that I came up with.
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The first con is that,
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you cannot currently set
up recurring deposits
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into your Public app
from your bank account.
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As you may know, on other investing apps,
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you can set up a weekly, biweekly
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or monthly recurring deposit,
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that feature is not currently
available on Public.
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However, the good news is,
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I did speak to the team over at Public,
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and they did inform me that this feature
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is currently planned and
currently in the works.
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So it should be available on
the app in the near horizon.
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So this is kind of more of
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a temporary con just in the meantime.
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And the only other con I could
really think of with Public,
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is that it may not be
as ideal of an option
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for those investors who want
to trade cryptocurrency.
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Because again, Public is a
stock market trading app,
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not a cryptocurrency app.
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However, they do again
have their investing theme
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of blockchain related stocks and ETFs,
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that you may want to look
into as an alternative
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if you want to invest in
blockchain related technology.
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So if you've made it to
the end of the video,
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I want to thank you personally.
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And as I mentioned earlier,
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I've recently partnered with Public,
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and they've been very generous enough
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to offer viewers of the
Everyday Investing Community,
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a special $10 signup bonus
when joining the app.
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In order to get this bonus,
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all you have to do is join Public
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through our special affiliate link.
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I'll be sure to put that link down
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below in the description box.
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Or you can go directly to
everydayinvesting.com/public
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In order to get the
bonus, all you have to do
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is join through our link
and deposit at least $10,
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leave that $10 uninvested
in your Public account
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for at least 30 days.
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After 30 days, Public will then credit you
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with your $10 sign up bonus credit right
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into your public account.
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Now, if you'd like to see how the
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Public app compared to some of
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my other favorite investing apps,
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definitely feel free to check out
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my other investing app reviews right up
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there to the right.
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And of course, if you're new to Public
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and would like to learn
more how to use the app
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and how to trade on it,
be sure to check out
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some of my other Public
app tutorial videos
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right down there to the right as well.
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And as always, thank
you for being a part of
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the Everyday Investing Community,
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I'll catch you all in the next one.
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