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The 3 Simple Rules of Investing by George Peacock, Carol Fabbri, Kwok L. Tsui, Michael Edesess

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INTRODUCTION

The Simplify Wall Street Portfolio

Many people refer to “Wall Street” and the “financial industry” as if these were synonymous. We’ll sometimes take that liberty, too, but in reality, many financial services firms operate far from the actual Wall Street in Lower Manhattan. In discussing the financial industry, wherever it may operate, we follow a definition described in a 2012 paper, “The Growth of Modern Finance,” by Harvard Business School professors Robin Greenwood and David Scharfstein.1 These authors give a detailed breakdown of the U.S. financial industry:

Images the securities industry (investment management and advisory services, ...

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