John Stewart interviews former SEC commissioner Robert Jackson and offers some illuminating insights on Wall Street.
Really interesting insights:
1) The self regulatory nature of the US markets
2) The private company set up of the New York Stock Exchange and simultaneous protection as a regulatory body
3) The NYSE suing the SEC multiple times and sometimes winning
4) Discussion about the SEC commissioners being allowed to buy shares on the exchange while in office
5) The post GFC bailouts and pandemic bailouts - protecting companies that made decisions to do large stock buy backs pre-pandemic
6) The utter lack of transparency of the stock exchange itself- the difficulty as a retail “dumb money” investor.
7) The inability to accurately see the true buy sell spread of the exchange unless on the private paid exchange feed
8) The inability to see the actual short positions on the exchange - discussion of GameStop …,.obviously
Worth the 33 minute listen. Interested in others thoughts as the ‘dumb’ money on the ASX. Any similarities / differences experiences from retail and professional investors.