THE SMALL INVESTOR
THE number of Americans who own stock has increased an estimated 1,000,000 in the past two years, bringing the total to about 7,500,000. At least half of them, say brokers, are small investors. Since they frequently buy their stock, in odd lots (less than 100 shares), Wall Streeters regard odd-lot purchases and sales as one of the best measures of what the small investor is doing.
In the current bull market, the new small investors expect to make money. But will they? One of Wall Street's oldest saws is that small investors are wrong most of the time; they...
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