Over the course of the next few weeks, we will present to you with various types sub-sects of the Brokerus-Stockus, a near extinct, but persistent species within the halls of Wall Street. This is not an analysis of independent advisors, an entirely related but separate breed.
Today we will explore: The Alpha
The Alpha broker is by far the most reverred within the species. They are usually backed by a team of underlings, all of them “yes people.” Spotted in the wild, even branch managers of the office know to fear the wrath of an Alpha. Always. Alphas seek to be worshipped and adorned as such. There is a broad range of verbal perpensity within the Alpha sub-sect, from constant mindless chatter to the quiet stoic type.
If you think you’ve met an Alpha but they are not part of a group, chances are you’ve met an equally aggressive but more elusive, Wile E. Coyote broker (explained in our next post).
The biggest marker for the Alpha broker is the name of their group. It will be their last name, almost always. They think they are the next Smith Barney, Morgan Stanley, or JP Morgan. And in their Class B office space, maybe they are.
The other equally important marker for the Alpha broker will be that they almost always drive an expensive car OR they like throw around little known facts about sports or the market to throw off their prey, the less confident. Odd, right? Such divergent markers… why an expensive car OR little known factoids? It’s common theory among the social scientists within this field that the Brokerus Stockus species places much of their hierarchical capital into such pursuits, much like a moose and it’s sharpening of the antlers or a bull and it’s horns. Another interesting finding: A young, aspiring Alpha will usually wear or have worn a fake Rolex or Tag at some point in their career.
Favorite word: “I”. They will use it a ton.
Favorite Sport: Golf or Tennis, whichever is held in higher regard in their social circle. The common theme of sport among Alphas will be anything that is you vs. them. Truly, anything that will give them an opportunity to dominate you into becoming a client is fine by them. It could be tiddlywinks for all they care.
Motivator: Money and the thrill of the kill. “We’re not saving the manatees here people…”
In Their Top 5 Favorite Movie List: Wall Street, Boiler Room, or Glengarry Glen Ross
Location of their office: One of the corners within your local brokerage firm branch
Favorite Investment: Third party managers. In first blush, this seems to be in conflict with the domination theme of the Alpha, but after more study we realize that by hiring third party managers your Alpha Broker can never really be wrong. Instead they can point their finger to the manager for underperformance. It also still gives them a sense of domination to think they can hire and fire managers with billions of dollars, at will.
Little Known fact: The Beta of the group is often the smarter.
Biggest Fear: A question that will make them look dumb, unraveling years of self-inflated confidence and ego.
Career Path: Move firms 2-3 times seeking the highest payout possible each time.
Caution: Watch for being overcharged by this sect of species. They think charging a premium validates their worth. It doesn’t add any value to you. Most investments you are sold from them are easily bought elsewhere, usually for MUCH less.