wall street being taken over by 22 year-olds
9 responses | 1 like
Started by carlberky - April 20, 2019, 2:13 p.m.

http://www.msn.com/en-us/money/markets/wall-street-firms-are-being-taken-over-by-22-year-olds-%e2%80%94-here-are-the-big-banks-that-rely-on-junior-talent-the-most/ar-BBW6vBN?ocid=iehp

"They found that nearly one-fifth of FINRA-licensed employees at the big banks are brand new to the business." 

"Barclays, Credit Suisse, and Goldman Sachs lead the way, each with a proportion of first years exceeding 21%. Bank of America and Morgan Stanley rely the least on fresh grads - 15.7% and 16.2%, respectively."

Here we go again. These kids have never been thru a market crash, and I hope that they are not in a decision making loop. 


Comments
By metmike - April 20, 2019, 2:34 p.m.
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Carl, 

That does seem to have an increased risk based on this dynamic. 

By silverspiker - April 20, 2019, 4:23 p.m.
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I am certainly praying that they didn't get the same education and shared economics classes as  Alexandria Ocassional Cortex, Business/Economics  Major.....

Now that I think of it that is when I walked onto Liberty Street, which is right next to Wall Street,  into the World Trade Center to start trading commodities. By the time I was 25,  I was  on the Silver Settlement Committee. The high risk of that ....was me never showing up on the face of the Earth again :_)

By metmike - April 20, 2019, 7:58 p.m.
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SS,

I made a special this day in history just for you and its fading into the distant archives on the NTR forum:

https://www.marketforum.com/forum/topic/27886/


So what years were those that you typed about in this post?

By silverspiker - April 20, 2019, 11:38 p.m.
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Thank you so much Mike I just wrote a whole epistle on my telephone text message and it erased it all... it had 2443 words in it....

I have been not trading and at my mother's retirement village, she had a few mini strokes and she just had turned 80 early this month. She actually taught Elementary education all the way up until last year.

I have been setting her up with the correct home healthcare situation. 

She is so old-school that there are definitely no computers anywhere near her.

I actually had texted that long message with all my professional history in it and I think it  better to wait to reply in length on a computer  so as not to get lost out in cyberspace again; and I will reply ....and also I want to thank you , thank you,  thank you so much for the Trip Shakespeare post.....

Sugar Magnolias to you ; and I will put that on my computer files when I get back on Monday morning....

Stay cool dude !



By metmike - April 21, 2019, 9:59 a.m.
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SS,

I'm so sorry to hear about you mother.  Happy belated 80th birthday to her and Happy Easter to your family.

I hope that she recovers and has some quality time left in her life for you to share with her. The waning years in a parents life are often the most challenging and frustrating for their children and obviously can be filled with adversity for them as their bodies and minds fall apart. 

Thank God that we live at the best time in human history. Modern science and technology allow us to effectively treat our loved ones with the best medicine in the best facilities, with the least amount of suffering. 

Carl can tell us a thing or 10 about that (-:

I'm betting, that if this were 150 years ago, during the Civil War era, Carl would not be with us today. Imagine what life would be like for any of us, let alone your mom right now.

My Mom died a few years ago but spend 2.5 years in a dependent care facility after a massive stroke in hell. Feeding tube in her stomach, lost her speech, using diapers, got bed sores, in pain..........almost died half a dozen times. 

So it can get real bad near the end. My Dad went to visit her for hours every single day as well as my sister that still lives in Detroit. I spent 8 weeks a year visiting her. Her medical bills would have been 500,000.

My 93 year old Dad on the other hand is tremendously enjoying his last few years, now at a wonderful assisted living facility. He can still play skillful chess against me and has almost no pain, while being able to fully appreciate many of the technologies of our world.

The outcomes 150 years ago would have been much different for both parents and for Carl.

I know that your Mom's situation is going to be completely unique and different but just know that I will be thinking about your family with an understanding of being in a similar situation and especially interested in how things are playing out.

Mike

By metmike - April 21, 2019, 10:21 a.m.
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To lose all the text had to be mega frustrating for you!!!

By carlberky - April 21, 2019, 9:34 p.m.
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From bitter experience, I've learned to do all my long texts in note pad, with frequent saves.

By carlberky - April 21, 2019, 9:47 p.m.
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"Modern science and technology allow us to effectively treat our loved ones with the best medicine in the best facilities, with the least amount of suffering."

Mike, at the rehab facility that I resently spent about a month at, you might think that I  was probably the oldest one there   ... but at 88 I wasn't even in the top five! 



By metmike - April 21, 2019, 10:39 p.m.
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Carl,

 At 88 and being so nimble on your computer is a great example for all of us that have a ways to go until we reach that age.

It does seem very likely that partaking in computer endeavers on the internet to stimulate our minds is a benefit to staving off losses in cerebral functions. Even a contributor to learning many new things(there are millions of new things that can be learned on the internet) as long as our brains allow for this.