An Uncomfortable Conversation
Skepticism is a critical attribute for investors. It is a critical mind-set for dealing with stockbrokers and anyone else on Wall Street. Second-guessing someone as personable as most stockbrokers will seem rude, and perhaps even paranoid, to some people, but you must remember that you have a relationship with your money—not your stockbroker. That might seem cold, but that is the relationship Wall Street has with you. Wall Street does not care if you live or die, make or lose money. Wall Street only cares about how much money it makes from you. This unemotional view recognizes an important fact about Wall Street and stockbrokers that too few people understand.