Wall Street has a million stories. The venerable firm is toast.
And the S&P 500 is at levels it traded at in 1999 and in 2001.
Like the 10,000 great people at Drexel Burnham Lambert to have been taken down by just a few at the top, this Bear Stearns debacle defies any kind of common sense.
It wasn't the regulators here who stepped in like at Drexel, this was sheer lack of the proper risk control by a firm that prided itself on risk control.
Another 85-year old Wall Street firm bites itself into a distant memory.
Native American Advisors, Inc.
- Dean Parisian
- CHIPPEWA PARTNERS is a Registered Investment Advisor and provides investment management to private investors, retirement plans and Native American tribal entities. Founded in 1995 as a fee-only money manager we are about doing the right things the right way and our expertise developed over 25 years balances financial acumen with absolute integrity. Dean Parisian is a former NASD and NYSE arbitrator and very successful trader who started his career on Wall Street in 1982 with Kidder Peabody and then with Drexel Burnham Lambert. The firm is a Life Member of the National Congress of American Indians and adheres to fiduciary standards. As a private, unbiased firm we know what to do and are prepared to do it. We invite your inquiry to manage your assets. ChippewaPartners@aol.com. Office: 877-772-1621 www.chippewapartners.com
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