Subscribe

Occupy Wall Street protester finds occupation on Wall St.

An independent broker-dealer has taken a flyer on an Occupy Wall Street protester.

An independent broker-dealer has taken a flyer on an Occupy Wall Street protester.

John Thomas Financial has hired Tracy Postert, who has a doctorate in biomedical science, as an assistant to its chief market analyst, Wayne Kaufman. Ms. Postert, who specializes in pharmacology, got the job after he spotted her in October in front of the ragtag throng in the now-famous Zuccotti Park in New York’s financial district.

At the time, she was holding a handwritten sign that read: “Ph.D. Biomedical Scientist seeking full-time employment.” The back of the sign read: “Ask me for my résumé.”

On Oct. 22, Mr. Kaufman did exactly that, and followed up the next day with an e-mail asking Ms. Postert to come in for an interview at John Thomas, an independent broker-dealer with more than 200 brokers. The company focuses on raising cash for start-ups and private deals.

AN UNUSUAL HIRE

Ms. Postert joined the anti-Wall Street movement in October and spent two weeks washing sidewalks and making sandwiches at Zuccotti Park, just two blocks from John Thomas’ offices at 14 Wall St., according to the New York Post, which first reported the story last Monday.

Mr. Kauffman said that he is “fascinated” by the Occupy Wall Street movement and had been making quick visits two or three times a week since the protest began in September to see what was happening at the park.

The move to hire Ms. Postert is an effort to build up John Thomas’ biotechnology business, he said.

“I typically hire people out of business school,” Mr. Kaufman said. “They have MBAs and all that stuff.”

EXPERTISE IN SCIENCE

Ms. Postert, who is studying for her Series 7 exam, is a markedly different type of candidate, Mr. Kaufman said.

Although she lacks experience reading financial statements, Ms. Postert has the scientific expertise to help uncover companies that are producing potentially winning drugs, he said.

“We’ve bought a [biotech] stock at $3 per share, it went to $5 per share, and then we sold it. But the stock [eventually] went to $15 per share, and we didn’t fully understand it,” Mr. Kaufman said.

“She will help us understand what’s going on at early-stage companies and ride them to big winners,” he said.

Ms. Postert started at the firm Nov. 15. She said that she has been consistently underemployed since 1999 when she earned her degree in biomedical science with a specialization in pharmacology.

Her last job was in the spring, Ms. Postert said.

“I really like my [new] job, and that’s not a BS statement,” Ms. Postert said. “I’m learning to evaluate companies on a financial basis, but I’m not there yet.”

LESS-KNOWN STOCKS

She is focusing on stocks of biotech companies that create drugs for diseases such as hepatitis C and cancer, as well as the extra-cellular matrix, which she describes as the connective “goo” outside animal cells.

“Where I have an edge is with these up-and-coming biotech stocks,” Ms. Postert said. “If a company gets the science right, I’m going to like that company.”

[email protected]

Learn more about reprints and licensing for this article.

Recent Articles by Author

Valuations for B-Ds and RIAs soar. Can it last?

Deals by LPL underscore surge in price propelled by the ongoing movement to fee-based revenue from one-time commission charges.

Barred Texas broker sold GPB fund without a license: SEC

"The only way to really address recidivism is through bringing criminal cases," one attorney said.

LPL shares hit fresh high after strong earnings

"Recruiting is as strong as ever" at LPL, one analyst noted.

Cetera’s Durbin says IPO clock has yet to tick

"Every private equity deal we have seen in the brokerage industry has lasted five to seven years," one executive said.

Finra bars ex-Wells Fargo broker firm accused of theft  

“We’ve done scores of theft cases over the years and it’s a cancer," said one attorney.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print