Well, I don't think everything will be useless. Think it was John Maynard Keynes who said "The market can stay irrational longer than you can stay solvent." While that quote concerned shorting a bubble, I'd say the principle holds for determining when a bull market will turn, as well.

While I'm 'beating' the S&P by 10% over my puny 3.2 year life, I gained more value from feeling the urge to trade during downturns, but resisting, seeing bad investments fade away (thanks, SolarCity), and effects of global events, such as Brexit and Trump USA. I would recommend trying stocks to people who can afford to do so as a way to really learn what books mean when they say there is an irrational 'fight or flight' instinct that individual investors have, not to mention the herd mentality of institutional investors.

Hope that clarifies things.

I believe the unprecedented bull run is also a contributor to Robinhood’s success. Most of your mobile app day traders are going to drop off when the market turns bearish.

I think many young people don’t understand this. They just think it’s guaranteed returns at this point with the amazing market and btc, etc.

I agree. A lot of young people have not seen anything except the economic expansion we have experienced for the past 8 years.

>Also, the markets have been in an unprecedented bull run. Everything you've learned will be useless once the tide turns

This is the real problem. Easy to beat the markets in a bull run when you're invested in high beta/high risk stocks.