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Cartoon by Pat Byrnes By that spring, Alex Kearns, a twenty-year-old student at the University of Nebraska, had been using Robinhood for about two years. The app had permitted him to trade options just months after he opened his account. Kearns grew up in Naperville, Illinois, with his sister and his parents. His father is an I.T. professional at a financial-services firm. The family was close. Kearns was known as an anxious but positive young man who played trombone in the high-school band, received a school-spirit award, and joined the R.O.T.C. at Nebraska, where he majored in business management. Kearnsâs cousin-in-law Bill Brewster, a professional investor, told me that heâd spoken with Kearns that March. âHe was happier than Iâve ever seen him,â Brewster said. ....
Provided by Dow Jones By Jason Zweig Stocks are near record highs, but they re finally getting cheaper to buy. No longer do investors need to buy a minimum of 100 shares at a time or even one full share, often at prohibitive cost. Fractional-share trading enables you to purchase a sliver of a share with as little as $1, putting a stake in single stocks within anyone s reach. As with any technology, whether that s good or bad depends on how you use it. After a decadelong bull market, buying the average stock has never required more capital. Seven companies in the S&P 500 have share prices above $1,000, including Google s parent Alphabet Inc., Amazon.com Inc., AutoZone Inc. and Chipotle Mexican Grill Inc. Berkshire Hathaway Inc. s Class A stock costs more than $330,000 per share. ....