“Millennials” are remarkably conservative investors, if they invest at all, in part because of their lack of faith in financial advisers. But a new breed of software-based advisers like Wealthfront and Betterment is banking on them still trusting the market.
Here’s a roundup of comments made by executives at some of the world’s largest trading firms and asset managers about Flash Boys.
How instant messaging made market manipulation way too easy.
And female employees need to wear pearl necklaces and scarves.
With a new bank sparking fears of collapse almost daily, the stock market on a steady downward trend, and oil prices soaring, the financial industry flutters like an Autumn leaf in apocalyptic winds (sigh). After Bear Stearns went under in March, with the exception of Goldman Sachs, it now seems that no major bank is safe from the long reach of bad credit. In the red corner, heavy-hitters Lehman Brothers, Merrill Lynch, and UBS are all making news headlines as, in the blue corner, investors question the possibility of collapse in light of disappearing profits. With so much speculation and indecisiveness, I think it’s safe to say that nobody really knows what will happen. Shit has been hitting the fan, shit is still hitting the fan, will shit continue to hit the fan?
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