Quote:
Originally Posted by carlsonjok
To be fair, I have no doubt that the game is rigged and try to proceed accordingly. I once told a financial planner friend that a stockbroker is one of only two professions that get paid on the way in and on the way out. He didn't disagree.
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You have that right Jeff. The system is somewhat rigged against the average normal person. From companies and people that seek out where Wall Street and stock exchanges put their computers and servers, so they can place their own computers and servers just across the street to try and get trading info and price updates mere milliseconds before everyone else, to investment firms acting as underwriters and handling IPOs and letting their stockbrokers selectively pick and choose which favored customers and clients to initially offer such shares to. Even when you decide to purchase (or sell) a stock, remember, that order is not instantaneously executed, and is potentially subject to various decisions and options by brokers, third market makers, and others that may be involved in the process, and also making money off your transaction as well. And whether you place market orders or limit orders can have a great impact on this process. Though the SEC has rules and laws in place to provide more transparency and try and ensure brokers and others are always giving customers the best executions possible of their stock orders, there are still ways for brokers and others involved to work the system to their advantage, sometimes over that of their customers.
By the way, what is the other profession........doctors? On some level then I guess you could also possibly include Auction Houses that charge seller's commissions AND buyer's premiums.
10-23-2022, 10:20 AM
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