The Evolution Of The Online Brokerage Business
Odd Lots
Bloomberg
4.4 • 1.6K Ratings
🗓️ 18 March 2019
⏱️ 32 minutes
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Summary
The online brokerage business burst on the scene in the late 90s, as at-home traders were lured to try their hand at winning big in the stock market. These days, investors are inundated with the message that they shouldn't try stock picking, and that they should engage in passive, low cost strategies instead. So how has the online brokerage business adapted? Chris Larkin, Senior Vice President of Trading at E*Trade, explains.
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| 0:00.0 | There's so much news happening around the world that we're somehow supposed to stay on top of. |
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| 0:16.5 | I'm Wes Kossova. |
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| 0:26.6 | Apple Podcasts, or wherever you listen. Hello and welcome to the Odd Lots Podcast I'm Tracy Allaway. |
| 0:45.0 | Tracy Allaway. |
| 0:48.0 | Tracy, do you know how I got interested in markets and stuff? |
| 0:52.0 | I have a sort of vague memory that you started trading. I want to say |
| 0:57.8 | tech stocks in the 1990s. I'm sure we've spoken about this before. You're right, I think we have. |
| 1:03.1 | And I think you basically have it right. |
| 1:05.0 | One summer, I think it was summer 98, |
| 1:07.4 | I made $2,000 over the course of a summer from my summer job. |
| 1:12.2 | And then I, and then in 19- Wait, what was my summer job and then I and then in |
| 1:13.6 | wait what was your summer job I don't really remember what I did to be |
| 1:16.9 | honest I think I had a feel like all that you only remain remember |
| 1:21.1 | remember the remember the money you don't remember the normal job yeah I don't remember the normal job. |
| 1:24.0 | Yeah, I don't remember the normal stuff. |
| 1:25.0 | But I remember having $2,000 from a summer job, |
| 1:30.0 | you know, it's the late 90s, and everyone was super interested in stocks and markets because there was a bubble going on and I invested that money and tried to trade and I grew it tenfold so I grew it to $20,000 and I've been hooked on markets ever since. |
| 1:46.0 | Okay so that's a total humble brag but let me just ask you before I start asking about your |
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