Word: grundfest
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Dates: during 1980-1989
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...current stock-market trends cannot be entirely reversed. Some of the benefits that computerized trading confer on institutional investors vs. individual investors are permanent. One of those advantages is the ability to buy and sell entire portfolios of stock at once, rather than individual issues. Admits SEC Commissioner Joseph Grundfest: "One of the wonderful things about Wall Street has been that the small investor could lay the same bets as the big boys. Now you might need $9 million to play." He adds, "If you're not computer sophisticated, you're behind the eight ball. As a practical matter, small...
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