Fundstrat's Tom Lee Says Incumbent Institutions "Never See Disruption" as Younger Generations Reshape Finance

TOM LEE SAYS INCUMBENT INSTITUTIONS "NEVER SEE DISRUPTION": 's Tom Lee thinks traditional banks risk underestimating how quickly younger generations can reshape finance.
• He compares today's shift to wireless disrupting local and long-distance telecom in the 1990s
• Traditional operators and money managers failed to understand why that disruption would happen
• Banks may focus on retaining older wealthy clients, while younger people see the financial world very differently