Investors Like Large Spreads, Says Broker
Posted on June 22, 2012 at 05:55 AM EDT
Here’s a good example of someone who has learned to rationalize his self-interest so well he does not recognize when he is saying something absurd, from the WSJ: “If you could set your tick size [minimum bid-ask spread] much wider, market participants will react,” said Jeffrey Solomon, chief executive of banking firm Cowen and Co. [...]