Remember day trading? All the cool people were doing it. Glamour stories of people who tripled or quadrupled their stake in a single day. With all this money available for the taking, you’d be a fool not to be day-trading!
During the era of day trading frenzy, I got a particular chuckle out of one PC manufacturer who produced a Precision Online Trading Workstation, equipped with dual monitors and dual processors and preloaded with financial software, so you can see more stock quotes, crunch those numbers faster, and lose more money more quickly than you ever thought possible. I imagined the logic that went into this product:
“There’s a lot of stupid people out there. Stupid people who are going to lose all their money one way or another. They may as well lose some of it to us.”