May 1st, 1975. It was a cool Thursday in New York City. The temperature was in the low 50s, and there was a slight breeze in the air. But over on Wall Street, things were beginning to heat up, because on this day—known now as “May Day”—something historic happened: brokers were, for the first time ever, allowed to charge variable commissions.
That’s right: the requirement for fixed-rate commissions was officially a thing of the past. Brokers could charge different fees based on the size of the trade.
This was a game-changer for ordinary everyday investors who’d previously felt priced out of stock market fun, and it also opened the door for a new era of broker competition.
All in all, it was a big day, which is why we celebrate it by having a bunch of girls dance around a really tall wooden pole and wrap it in ribbons.
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Finance: What makes a fair market...fair...0 Views
Finance allah shmoop what makes a market fair Well fairness
Okay so what is farewell Honest advertising for one like
if we're talking about the market for stocks and buns
A company can't claim they have a billion dollars of
profits this year when they don't Yeah regulators are picky
about accuracy that way Too many liars cheats and deceivers
stole money from hardworking farmers in the history of this
country So the feds come down hard for good reason
on those whose pants are you know on fire So
yeah honesty in Numbers is 1 definition of fair Another
is full disclosure The numbers might be accurate technically but
they're not really reflective of how well or poorly the
company actually did Like a discount rectal thermometer company might
have technically made eighty million bucks in the quarter But
if only twenty million of that profit came from the
selling of invasive temperature taking devices and sixty million came
from wild currency swings Because the company had tons of
exposure to zimbabwean dollars which had a meteoric rise in
the quarter when china agreed to take over debt payments
on all of the countries obligations in return for well
basically owning the country Then the sixty million of currency
gain on the zimbabwean dollars would be a thing the
company would have to very loudly disclosed Well odds are
good that miraculous swings like this won't happen again next
quarter Or maybe ever It's not the business that they're
in So what else makes a market fair Strict laws
Maybe an arbiter for when those laws are broken not
selling your data if you don't agree to allow them
to do so Yeah all of the above What do 00:01:42.359 --> [endTime] you think makes a market fair What a concept
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