We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
Well, it's that time again on Wall St. In my experience, when the banks start letting people go in sizeable numbers, it's a sign that we're near a bottom of some sort of periodic mess.
They are always behind the boom-and-bust curve, and there is no such thing as job security on The Street: everybody needs an exit strategy.
So it's a good time to be a young, junior person on The Street, because they mainly focus on dropping the expensive people. That means the junior folks might get a good 7-10-year run until the next round happens.
Re; the market...
Said last summer I am a small time buyer at around 11,200. Think that is about a 20% discount off the high. Still the big question is buy what? Dow Index Fund I guess. Do not watch the markets closely enough to trade individual stocks. Still is very hard to do any buying in a scary economic climate. Might chicken out.))
"So it's a good time to be a young, junior person on The Street, because they mainly focus on dropping the expensive people"
Who they drop are the young brokers who are building a book. If they aren't on "pace" to bring in the golden number, whereever the firm has set that number, the young broker gets canned and his book allotted to the successful brokers.
If you're an analyst being paid too much and producing too few deals by bringing in new clients with bogus due diligence analysis , you're dog meat and G O N E.
The so called wall of separation is still just a joke ..analyst know they must develop business with sweetheart reports.