Whenever a major financial market crash occurs, why is it that (as shown in movies) the stockbrokers are shitfaced at the end? The investors should be fucked right? Why the stockbrokers, who just buy and sell for the investors?
In: Economics
The brokers are heavily invested in the market themselves, and their job and pay is conditioned on them doing well in the market and the company they work for is widely high invested, not just for others but for themselves. They just lost tons of money, the company they work for lost money, and they are probably getting fired for losing so much money, and since their skill is being a good broker, well, thats over.
Brokerage firms generally have insane amounts of money invested in the market both for outside investors, and themselves.
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