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Non-Tech : Meet Gene, a NASDAQ Market Maker -- Ignore unavailable to you. Want to Upgrade?

To: Bilow who wrote (1098)	9/27/2000 2:11:14 AM
From: LPS5	Read Replies (1) \| Respond to of 1426

Don't get too wrapped up in equating what dealers do to what daytraders do. Yes, there is - and certainly more now than ever before - that element of buying and selling on an intraday basis. But on top of that particular stream of revenue, there are commissions, markups/markdowns, the arbitrage opportunities afforded by being on both sides of the market (particularly if one has order flow, and especially if that order flow consists largely of market orders), lending (a rev. stream which, in the accounting of many firms, is shared with the Stock L&B Dept.) and other factors making their returns far more difficult to put a finger on than simply assuming an average daily trading yield or something akin to an ROI. LPS5 Message 14366513