Lesson 1 / 6 · 9 min · take your time
A tower is several shops under one sticker
Classroom slides
- →Next
- ←Previous
- HomeSlide one
- EndLast slide
- 1–6Jump
- Swipe leftNext
- Swipe rightPrevious
- Hold PrevSlide one
1 / 6
Board 01
A tower is several shops under one sticker
The banks path named the jobs: deposits and loans, underwriting, advice. A famous U.S. tower is usually a holding company that owns several children, each with a license. The logo on the building is a sticker. The child that takes a paycheck is not always the child that helps a firm sell new shares, and neither is always the child that runs a fund.
Next time you open this lesson
We’ll open this slide when you come back. This device remembers it.
Keys move the deck. N next, P previous. Ours. Not PowerPoint.
Swipe the deck. Hold Previous for slide one. A vertical swipe still scrolls the page.
The banks path named the jobs: deposits and loans, underwriting, advice. A famous U.S. tower is usually a holding company that owns several children, each with a license. The logo on the building is a sticker. The child that takes a paycheck is not always the child that helps a firm sell new shares, and neither is always the child that runs a fund.
BlackRock, on the managers path, is mostly the fee-on-a-pile shop. JPMorgan Chase is mostly a bank that also has an asset-management child. Mixing “they’re all institutions” is how a person treats a deposit, a fund, and on the holding company as one animal.
on JPM, GS, MS, or BAC is looking at a residual claim on that holding company. It is not your checking balance. It is not . It is not a fund share. Three sentences, same as the manager lesson, with a different first hat.
Passing this path is not a teller job and not a Series license. Look. Do not buy. Not a broker. Not an . Not a . A famous shop is a name. It is not a pick. We will not size a fund.
See it on the board: JPMorgan Chase
Say it back below. Then the next lesson opens. If you leave the page, we will ask to save your spot.
Ask the Professor