Big boys like Morgan Stanley and Goldman Sachs don’t make money from people sitting on their portfolios but from the churn
This is baldly false and prima facie absurd. GS makes almost no money on PCS equity trading commissions, and the even smaller % of that they would make in a day from selling SQ and moving into CALM wouldn’t pay the paper clip bill.
All transactional revenues on ALL Inv Mgmt accounts - generally mutual funds and hedge funds but also expensive products like high-yield comes to a grand total of 2% of revenues according to the Q3 release.
Equities are 20% of those assets, so 0.4% of total revenues. An extra equity trade or 5 makes that a completely negligible amount of the $168m total for the division for the Quarter, on top of being blatantly illegal.
Stick to talking about what you know, Denny. Defamatory accusations are beneath you.
Individual investors don’t move the markets down 5-10% in stocks with $10-15Bn+ market caps like SQ or ANET or SHOP.
And they never will.