Commentary: Day Trading: How To Protect Aunt MinnieMike Mcnamee
It's hard, at first blush, to make much of a case for regulating the latest stock market fad, day trading. Sure, day traders--speculators who use their Internet-linked computers to make dozens of rapid stock trades each day--are gambling, not investing. But a country that spends millions encouraging its poorest citizens to play lotteries can hardly object to speculation by the better-heeled. Shouldn't we conclude that anyone who falls for day-trading firms' get-rich-quick pitches and sets out to beat the market pros at their own game pretty much deserves the drubbing he or she will get?
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