Hard to have euphoria when everyone’s expecting pink slips

I was way ahead of this one. I had almost forgotten I’d written it until someone emailed me. This week, the Wall Street Journal ran a story about the massive drop in headcount among analysts on the sellside. As more institutional money goes toward quant strategies, passive indexing and private equity, and trading commissions drop to zero, there is less demand for the kind of fundamental research that Wall StreetR...

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source https://thereformedbroker.com/2020/01/05/hard-to-have-euphoria-when-everyones-expecting-pink-slips/