In many ways, we may be living through a golden age of investing. Lower costs, technological advances and unprecedented access to information make markets more accessible than ever.

Consider how the investing landscape has evolved over the decades. Technology has automated trading systems, drastically lowering transaction costs, increasing access and fuelling trading activity. In the late 1980s, the New York Stock Exchange averaged around 500 million shares traded daily; by 2020, this figure doubled to over one billion. This has also changed investor behaviour: the average holding period for a stock, once spanning years, is now measured in months.