Traders Fired in Shakeout Migrating to Firms Off of Wall Street

[Soultrader 12]

Interesting article on bloomberg here.

[UrmaBlume 10]

Interesting article on bloomberg here.

 

Thanks SoulTrader,

 

Now, finally, even the dumbest on Wall St., are learning what the smartest have known all along - which is that it is not their captal, cash-flow or customer base that is their most important asset but rather it is their intellectual capital.

 

Two decades ago I wrote on how astounding it was that major brokerages spent 90% of their IT budget on back office functions rather than to providing timely, useful information to their clients or better yet, as Goldman demonstrates again and again - trade the information for the benefit of their clients, partners and the company.