[Soultrader]

Interesting article on bloomberg here.

[UrmaBlume]

Originally Posted by Soultrader »

Interesting article on bloomberg here.

Thanks SoulTrader,

Now, finally, even the dumbest on Wall St., are learning what the smartest have known all along - which is that it is not their captal, cash-flow or customer base that is their most important asset but rather it is their intellectual capital.

Two decades ago I wrote on how astounding it was that major brokerages spent 90% of their IT budget on back office functions rather than to providing timely, useful information to their clients or better yet, as Goldman demonstrates again and again - trade the information for the benefit of their clients, partners and the company.