Getting Inside A Brokerage House

by David Jenyns on January 14, 2008

Brokerage houses are pretty much like offices everywhere, except for the presence of the fascinating paraphernalia of the market. The customers’ room in the usual large brokerage house has a quotation board on one wall. For each stock listed and it is a pretty large board that shows much more than the leaders in any particular group the quote board will indicate the present and past year’s high and low, the previous day’s opening, high, low, and closing prices, and the successive prices of the current day’s sales.

The research department consists of a staff of securities analysts who study and report on the performance and prospects of various stocks. Many analysts hit the road frequently to examine companies firsthand.

Many brokerage houses are also investment banking firms, prepared to share in underwriting new securities issued by companies seeking more capital. A company issuing stock does not sell directly to the public. Brokerage houses may also “take a position” in a stock. Not just its rich customers, either. Read the ads.

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