Top 5 Reasons I Know I Work in Financial Markets:
1. I know the ASX Operating Rules, ASIC Market Integrity Rules, Corporations Act, Financial Services Regulation, and the Anti-Money-Laundering and Counter-Terrorist Financing Act really, really well
2. I smirk and shake my head cynically when politicians pretend to criticize the Reserve Bank for lifting rates
3. I thought the NAB got it really, badly, stupidly wrong with their ad campaign about divorcing the banks - unlike the rest of the public which deemed it a massive success and worthy of a major advertising award
4. Like most people working in markets I cannot pick stocks for crap, AND I continue to think I can
5. I am appalled at the worst excesses of Wall Street and I empathize with the Occupy movement - but I don't think you can do a whole lot to legislate for fairness or ethics beyond the basics. I know the traders will always be ahead of the regulators, because constant evolution and innovation are part of how markets work.
If you want to see some other 5 Reasons lists, look here.
2 things I learned wkg on Wall Street for 40 years:
ReplyDeleteTraders are arrogant and overpaid. OK make that many Traders.
When people in elevators start talking about buying stocks and bragging about gains...SELL!!
Cranky Old Man
Sounds like good advice to me! Thanks :)
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