Posts Tagged ‘brokerage’
Ron Chernow: Broker Banker
on Wednesday, July 28, 2021Ron Chernow Money Quote saying savings for the wealthy have become financialized by brokers who risk money, rather than save it. Ron Chernow said:
“Once the brokerage house, rather than the bank, became the locus for American savings, that money would find its way into the stock market, because the broker was someone with a much higher tolerance for risk than the banker” — Ron Chernow
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Paul Tudor Jones: Brokerage Conflict
on Saturday, November 14, 2015Paul Tudor Jones Money Quotation saying there would be a dramatic change in trading if market losses meant commensurate loss for brokers. Paul Tudor Jones said:
“I got out of the brokerage business because I felt there was a gross conflict of interest: If you are charging a client commissions and he loses money, you aren’t penalized” — Paul Tudor Jones
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