Quiz: Stocks in a Flash and in the Long Run

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Read The New Speed of Money. Then eyeball It's When You Start and When You Finish. Now test your retention with this quick quiz:

1. After the NYSE and NASDAQ, what are the two next largest stock exchanges?

2. How long does it take to complete the average trade, round trip, on NASDAQ?

3. What percent of stock market trading is attributable to high-frequency traders?

4. What's been the median annualized return on stocks over 20-year periods, after adjusting for fees, taxes and inflation?

5. What was the lowest annualized real return on stocks over a 20-year period?

6. What was the highest real return?

ANSWERS
1. BATS Exchange and Direct Edge
2. 96 millionths of a second
3. 56
4. 4.1%
5. -2.0% (1961-1981)
6. 8.4% (1948-1968)