The year stock traders became an endangered Wall Street species
The longest bull market in stocks has somehow completely bypassed banks' equities traders
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SOMEHOW, the longest bull market in stocks has completely bypassed banks' equities traders. Buying and selling shares for clients such as hedge funds, mutual funds and other investors used to be a key business for investment banks.
They built up large trading desks during the stock market booms in the 1990s and early 2000s, luring traders with six-figure pay cheques and generous bonuses.
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