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1,628,407 Views • Feb 7, 2020 • Click to toggle off description
The number of trading, sales and research jobs at the Top 12 banks in the United States have dropped precipitously in the last nine years. In 2010, those big banks employed about 21,000 people who worked in equities — or stocks — and 27,800 people who worked with fixed income, or bonds, according to research firm Coalition.
By the third quarter of 2019, those banks employed about 16,000 people in each category, a drop of about 5,400 jobs in equities and nearly 11,600 in bonds.
The shift to electronic trading and passive investing are big culprits behind the trend. Now more and more big Wall Street names are finding it harder and harder to make money from trading. The rise of passive investing and algorithmic trading are squeezing profits in the trading business to razor thin margins. So what’s happening to Wall Street’s once prestigious trading profession?
CORRECTION (February 20, 2020): At 2:55, David Weisberger’s former role at the New York Stock Exchange was mischaracterized. He worked on trading automation on the NYSE floor.
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Why Wall Street Traders Are On The Decline
Views : 1,628,407
Genre: News & Politics
Date of upload: Feb 7, 2020 ^^
Rating : 4.824 (819/17,791 LTDR)
RYD date created : 2022-04-08T04:03:59.01735Z
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YouTube Comments - 1,826 Comments
Top Comments of this video!! :3
I HAVE INCURRED SO MUCH LOSSES TO TRADE ON MY OWN,I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED.
25 |
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $560K for sometime now, my major challenge is not knowing the best entry and exit strategie;s ... I would greatly appreciate any suggestions.
2K |
Nobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals.
606 |
Several of the biggest market experts have been voicing their opinions on exactly how awful they think the next downturn would be, and how far equities may have to go, as recession draws closer and inflation continues well above the Fed's 2% objective. I'm trying to build a portfolio of at least $850k by the time I'm 60, therefore I need suggestions on what investments to make.
557 |
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
378 |
of course this trend starts happening after i graduated with a degree in finance
1.9K |
Now wall street is getting the wall street treatment. No compassion, no empathy, no loyalty just profits. I'm I'm trying so hard to choke back my tears as I'm typing. It will be the hedge funds next.
84 |
Me watching The wolf on wallstreet and other broker movies :
Those were the cavemen days
537 |
Why pay a broker $35 per trade, when you can now do it for free over the internet.
1K |
I once told my lawyer in 2010 that I was interested in finance or law. He told me not to waste my time- the world was awash in analysts and lawyers. Plumbers make more now than stock brokers
354 |
Having people running around on the floor, yelling, screaming and waving their hands is incredibly inefficient and silly.
775 |
I prefer clicking on buttons than picking up a phone and telling someone what I want to buy or sell. Plus trading on computers is faster and more accurate.
73 |
They are all driving for Uber now.
1.5K |
Look at the good thing that has happened, now even a common man can buy and sell without involving any human brokers
296 |
Retail investors get to keep more of their own money. Financial services has always been about skimming off the top
380 |
Am I supposed to be sad that a middle-man is disappearing?
390 |
I remember when a hot girl used to hand you your money in a bank too. Now your lucky to find a cashpoint machine in your town.
49 |
obviously a job that has to do with trends in numerical data and making fast decisions was going to be replaced by software
98 |
⚠️ without watching this: Computers. 👨💻
348 |
@nathancosta36
4 years ago
Electronic trading, passive investing, and technology are the culprits behind the decline. Saved you guys 14 minutes.
5.7K |