Great points. While this convo took a tangent with my agreeing on the bullshit comment from Janice, I still wonder how long/if the MMs had access to L2 and other MM positions for years before the average retail investor did, and if so then during that time the myth would have more credibility imo. Thank you DB
Sam gave a link saying the Nasdaq cranked up L2 in 1983. Doubtful the price was cheap for retail.
I suppose it would have been possible--after all, once upon a time some private individuals owned ticker tape machines--but it wasn't practical until the internet became widely available.
These links will be of some help to fhe poster who asked the original question: