Joshua M Brown

The Death of the A Share (and nobody cares)

As the retail brokerage model continues its steady decline into irrelevance, one of its cornerstone products, the mutual fund A share, now finds itself in the opening throes of a death rattle years in the making… via Investment News: The “A” share-class grouping — the largest among retail mutual funds — is largely made up of…

TRB Turns Six: Thank You

Six years ago, in November of 2008, The Reformed Broker blog was born. By tuning in each day, sharing my links and taking interest in what I have to say, you – all of you – have had some role in changing my life. Your continued readership means everything to me. I try my best…

Jon Stewart Regrets Abusing Jim Cramer

“You begin to believe your own responsibility to ‘get this guy’ – even though that’s complete bullshit….I think the Cramer thing was one of those that negatively impacted me like that because that came out of alchemy but it became such a big deal.” – Jon Stewart on the The Howard Stern Show, 11/18/2014 Jon…

QOTD: Understatement of the Year

  As the United States’ central bank now exits the extraordinary measures it undertook to defeat the financial crisis’s aftereffects – and Europe first wades into the waters of stimulus – it’s worth thinking about the consequences of trying versus not trying to save one’s economy. We did the former, imperfectly but doggedly. Europe went…

This Week on TRB

(Financial journalism and investing panel, the Charlie Rose Show 11/18) These were the most read posts on the site this week, in case you missed them:

The Jerry Maguire of Morgan Stanley

“Fact: The wire houses can not grow their market share in the retail investment market. Stagnant at best and at worst contracting, the situation calls for objective, fresh thinking. Stagnation has led to a system of organized bribes amongst wire houses just to keep their most desirable producers and to attract the most desirable producers…

Why We Educate Our Clients

The history of Wall Street wealth management as we know it today starts during the ramp up to World War I. The Defense Department needed a enormous source of funds and they decided that US war bonds were the best way to go – but how to sell them? That’s when the relatively obscure denizens…

Nick Colas: Ten Signs You’ve Been on Wall Street Too Long

Nicholas Colas pens an opus this morning, out of nowhere. He’s clearly feeling introspective today… *** After 30 years in and around Wall Street, I feel like damaged goods.  That’s not necessarily a complaint, but rather a simple and factual observation.  An example to illustrate the problem: I have mental stop losses for just about…