Turn on financial television or pick up a financially related magazine or newspaper and you will hear or read about what some stock analyst from some major Wall Street brokerage has to say about the markets or a particular company. For the average person, and for most financial advisors, this information as taken as "fact" and is used as basis for portfolio investment decisions. But why wouldn't you? After all
Earlier this week, we wrote about how the New York Times' Dealbook, the creature of Wall Street sycophant Andrew Ross Sorkin, had launched a fierce campaign against Elizabeth Warren's latest move, her opposition to the Obama administration's nomination of Lazard's Antonio Weiss, a mergers and acquisitions banker. Warren's grounds for objecting to Weiss were straightforward: his experience was no fit for the requirements of his proposed Treasury role.
Wall Street firms have hit a rough patch this year. Many financial institutions are in the midst of several probes from regulating authorities and have been forced to reshuffle management due to the stringent regulations that have been placed on their operations.
December, however, brought good news for these exhausted firms. Research shows these institutions have been quite successful in retaining their junior employees in comparison to boutique investment companies.