Happy Birthday, Bull Market

A record year has transformed investing, and the ride may not be over yet

Two years ago, Steven Fishman was a New York University student without a job but with a keen eye for a bargain. Today Fishman, 20, is still a student without a job, but he is $50,000 ahead. He made that much on the stock market, mostly by devoting his lunch hours to trading options on the stocks of Tandy and Digital Equipment. The profits have paid for a few years of his N.Y.U. tuition, plus, as he puts it, "a...

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