Quote from Pabst:
Mecro,
As you know, there are no absolutes in life. In the 1987 crash, some specialists were net short! However several firms blew out. Same in any pit or crowd. Some choose to shamelessly leach and eek out a good living. Other's aspire for greatness, those on the floor who truly jam have mortality rates commiserate with their level of risk.
OK great, give the risk of being the specialist on the floor over any "secure" corporate job.
Some specialists short? You better believe that in any crash, all of them are short.