A Campaign for Change at a Boutique Wall Street Firm
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The floor of the New York Stock Exchange. Wall Street companies trade at a fraction of their book values, which J. Daniel Plants, a hedge fund founder, views as an opportunity. CreditBrendan Mcdermid/Reuters
It’s not so fun working on Wall Street these days. The hours are long, the pay is not nearly what it once was (though it is still very good, all things considered), and the public’s animosity toward the industry has become all too familiar. Even worse than working at an investment bank, however, is investing in one.
For starters, there are few public companies that are less shareholder friendly than a Wall Street one. They seem to exist primarily for the benefit of the people who work at them, not the people who own them. Generally speaking, 40 percent to 50 percent of every dollar of revenue generated by these companies goes to employee compensation, which leaves far less net income for shareholders…
A Campaign for Change at a Boutique Wall Street Firm
