Subject: Re: Margin debt
Does this factor in “limited margin” used to day trade in brokerage accounts where the “margin” is a one day loan in anticipation of funds already coming into your account from an unsettled trade?

Sure this was true in 2021 but this is something that didn’t exist in the dot com bubble and the major brokerages were slow to adopt due to questions about its legality at first. Now everyone offers it and it’s big volumes. Offering access to funds a day before the funds are deposited in your account is not traditional margin, but it is technically borrowing.

This would make comparisons with historic margin use apples to oranges imo..