Comments by "Magic Beans" (@Magic_beans_) on "Day Traders To Billionaires - Online Trading in the 1990's" video.

  1. 5:00 Regarding the 1,000 share limit - Investing had much more of a hurdle to entry back then. It was typical to trade in “round lots” of 100 shares. Some brokers even required it, they wouldn’t deal in smaller “odd lots” because of the higher fees involved. If they took the request, you the investor would pay more in commissions to buy 50 shares than you would to buy 100. That round-lot requirement might mean each blue-chip position in your portfolio was thousands of dollars; in 1990 you’d need about $6,000 to get your first stake in Coke or IBM. This is also why stock splits were more common than they are now. You wouldn’t have seen someone trading at $1,000/share like Booking or Chipotle do today, because it could make them more difficult to invest in.
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