Look, I'm talking about $50 and 1/8 spreads in 70s and 80s dollars. A low income investor from that time period might only have 3 or 4 digits to sock away in the market per year, Wall Street taking a huge bite every time. Then there are index funds and ETFs which need to get their costs as low as possible to benefit lay investors.
If you think big commissions and spreads are inconsequential, you are factually incorrect. If you think trading doesn't narrow spreads or lower costs, you are also incorrect. Finally, if you think trading qua trading distorts prices, there's almost no data that supports this and huge bodies of economic literature to the contrary. This isn't a matter of opinion.
If you think big commissions and spreads are inconsequential, you are factually incorrect. If you think trading doesn't narrow spreads or lower costs, you are also incorrect. Finally, if you think trading qua trading distorts prices, there's almost no data that supports this and huge bodies of economic literature to the contrary. This isn't a matter of opinion.