165: Michael Samuels – Speculating on Mergers—and a Case of “Excessive” Due Diligence
Chat With Traders
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The Cost of Free Research
The only way to get that stuff is to pay for it. With recent rules, this mythic rule change that has really clamped down on free research is costing me a lot of money. If I call Bank of America with one person in my office and I say, I want your research, they'll say $100,000. They don't look at it as how many terminals are going to be turned on. And you would think that, so let's use this analogy. First New York has a fund. They have 200 traders. And if they want Bank of America research, theyll pay as a firm $100,00 to Bank of America. So all these banks,
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