internet circumvents main avenues of information
this phenomenon is principally responsible for some of the heat put on big brokerage houses now
the Houses are no longer in a position to monopolize information
investors can obtain 10Q reports from FreeEdgar
we can access independent research
I personally regard independent research as the main, biggest, most damaging threat to the major Houses
if Ney is 100% correct, then Drudge would never have broken the Oral Office Clinton-Lewinsky jizz stain blue dress story
the world is changing slowly in the Wall Street Jungle
and the insiders dont like it
specialists must live with certain rules issued by SEC, NASDAQ, etc
like executing market orders "almost" immediately
these specialists can be overwhelmed, provided they have competition with other specialists
sure, collusion can occur, and probably does
but the world of information is changing rapidly
the little guy is slowly getting rid of his/her disadvantage
but ONLY if he/she is resourceful, persistent, eager, and constantly digging
it is the independent guys who threaten the system
only trouble is, if they really succeed, they are invited to become members inside the system
/ jim |
