His boss told the young broker point-blank, “you’re confused about your job.” A fellow broker added, “Your job is to turn your clients’ net worth into your own.” Blaine wrote that down in his journal.
Was this happening at Goldman Sachs? No, it happened at Lehman and I’m guessing it happens at most of those big financial institutions. And yet somehow these places keep peddling B.S. and getting new clients.
P.S. If you appreciate these kinds of observations, you might want to read this as well.
That is the attitude of too many people.