Whats important for investors, is enlightened self interest. That begins with understanding this piece in and of itself;
"The variables in the quantum wave equation are multivalued: for every value of x there are a multiplicity of corresponding values for y. Two different notions of identity are involved here, one simple and one complex. An entity with simple-identity, when in motion, carries very little holistic information about the system of which it is a part. An entity with complex-identity, when in motion, carries a large component of holistic information about the system to which it belongs." ....from Derek dillons papers william pensinger
The SEC regulates the trade, its a systemic part of a holistic system.....certainly mr Coxe should issue a requirement for broker dealers to provide some truth in advertising, to the extent that the broker dealers admit, that they have become servants for fees.
A Servant for fees trades a former identity, into a new identity, without disclosure to the prevailing identity, its as if, the business is doing a line extension strategy, similar to a company with shelf space in a retail environment, where the path to capture additional market share is extensible by way of relationships with decision makers.
The objective of any line extension is to capture new revenue streams, even if that means sacrificing old customer relationships. Recognize this is easy, once one understands disconnected supply and demand.
Our complex of broker dealers are at the point, where the lines of ethical responsibility have been crossed. Pay attention to trade outreach in advertising, it tells one story about a solicitor of average joes investment dollars, while the subsequent conversion of those dollars, to an entire different complex of customers remains undisclosed.
I have never seen any disclaimer in any advertising which identifies the intent to conversion, but that is what we have, systemic conversion of private property by those with the power to manage a ledger opperating outside the laws governing stock issuance.
think about it.
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