FYI: Tom Brakke recently highlighted a rather outlandish Wall Street practice that is fairly commonplace in the world of finance:
As reported by RIABiz, there was a telling exchange during the last Charles Schwab earnings call. An analyst “grilled [the CEO] about whether Schwab was damaging shareholder interests in an overzealous regard for the welfare of investors.”
The analysts covering this stock are worried that, by lowering their fees, Schwab it treating their clients too good. ‘Only on Wall Street’ was the first thing that popped into my mind when I read this.
Obviously, the finance industry isn’t the only place that puts far too much emphasis on things like short-term profits but this got me thinking about what it would be like if other areas of life operated like Wall Street. Here goes:
Regards,
Ted
http://awealthofcommonsense.com/2017/03/what-if-other-areas-of-life-operated-like-wall-street/
