MY FIRST EXPOSURE to the stock market was as a six-year-old child in 1960. My dad took me into a Merrill Lynch office near downtown Miami, Florida. I was wide-eyed and impressed with all of the activity going on in the office. There was a group of older men in the lobby area who would watch the screen and occasionally go over to the quote machine to check on a particular stock. One of the men showed me how the machine worked. I found it fascinating as he put letters in and it gave him numbers back.

The old men seemed like a generally grumpy bunch, and I came to understand that some of them spent the entire day in the office checking on their money. I remember feeling sad for them. It certainly would have been more fun ...

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