Commentary

Jared Dillian
Traders Magazine Online News

Was it Worth It?

In this piece from 10th Man, author Jared Dillian discusses how the ETF revolution is less about ETFs and more about indexing; about how people have come to view stocks less as stocks and more as blobs of stocks.

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January 1, 2002

The Million Dollar March

By Sanford Wexler

The trading desk of Gerard Klauer Mattison (GKM) has raised close to $1 million for breast cancer research. The New York-based investment banking firm recently donated the net commissions of its institutional trading business for one day. Proceeds went to the Susan G. Komen Breast Cancer Foundation.

"With the exception of the Race for the Cure, which usually raises about $1.5 million," said Molly McDonough, a spokeswoman for the Greater New York City Komen affiliate, "the Gerard Klauer event is the largest one day fundraiser that we have."

GKM has some 50 listed and Nasdaq traders who are based in New York as well as in its satellite offices in Boston and Chicago.

On hand for the benefit was Michael Beneson, GKM's director of institutional equity sales, and CNBC anchor Bonnie Behrend. Twenty-five percent of the money was earmarked for breast cancer research projects. The remaining funds will be dispersed to Komen affiliates in New York City, Los Angeles, Boston, Chicago and San Francisco.

The money will subsidize mammograms and biopsies for financially-strapped women in these cities. It will also be used to promote the importance of early breast cancer detection.