Wall Street has always been run by big money. That makes sense. Frankly, I don't think nutty penny stock players should enjoy a major role.
Except for a few periods--the years leading up to the '29 crash and the last 12 years or so--ordinary people who chose to invest, really invested. In big board stocks that offered dividends. Back then, the dividends paid were pretty good; good enough for people to leave their money in the stocks in question.
Nowadays, of course, not many companies offer big divvies. A few do; if you're interested, check out mReits. But investing in real companies doesn't offer the benefits it once did.
And thanks to the rise of the internet, and discount brokerages, short term trading has become accessible to everyone. That's not necessarily a good thing.
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