Archive for March, 2010

As Congress debates financial overhaul legislation, one phrase from my early days in this business keeps popping into my head. “Fire Your Stockbroker!” was my mantra back in the early 1980’s. We kept telling anyone who would listen that brokers have a built-in conflict of interest – the more “product” they sold, the more money [...]

So I’m driving home this past Sunday afternoon with my radio tuned to a New York City all-news station. The hourly 5-minute business report is on, and it wraps up with the “news” that the Dow Jones Industrial Average closed up 4.23 points on Friday, and the Standard & Poor’s 500 Index gained 1.55. Who [...]