When the going gets tough on Wall Street, brokers can lose money too, just like their customers.
There’s a scene in the classic 1983 movie “Trading Places,” in which the Duke brothers, played by Ralph Bellamy and Don Ameche, explain to Eddie Murphy’s character Billy Ray Valentine that whether their clients make money or lose money, their brokerage Duke & Duke makes money.
But investors learned that volatility is not always good for the Big 5 banks/brokers, which reported fourth-quarter earnings this week.
