"He had previously worked on Wall Street as an institutional equity trader and research analyst for a subsidiary of the now-defunct investment bank Donaldson, L

"He had previously worked on Wall Street as an institutional equity trader and research analyst for a subsidiary of the now-defunct investment bank Donaldson, Lufkin, and Jenrette. "But DiIorio didn’t know that at the time."" How does someone who worked on Wall St. not know what penny stocks are? How do they not know the importance of disclosure and regulation? It's just bizarre for someone to come out of that world without the proper cynicism for investing, but maybe that's because the people I have met from Wall St. make money. Some of them "quite a bit." I wonder if he worked for one of those institutions that doesn't actually make money and instead lives off of fees.