You see, most stockbrokers aren't traders, and they aren't analysts, but salesmen. They usher clients into financial products with little regard for their individual financial situation or the broader markets.
That doesn't make them bad people. In fact, I have friends who are stockbrokers, and they're nice people.
These friends of mine are trustworthy and try hard to make their clients money. But at the same time, I would never let any of them handle my money, not even a small portion of it.
That's why a new analysis published in yesterday's Wall Street Journal really grabbed my attention...
According to the Journal, some stockbroker misdeeds - including financial crimes and other serious felonies - aren't always disclosed to their brokerage house employers, or to the Financial Industry Regulatory Authority.
What you don't know about your brokerage business could hurt you... Full Story
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