A different approach to reducing the irrationality of Wall Street can be found in new research led by Steve Sapra and Paul Zak, neuroeconomists at Claremont Graduate University. Dr. Zak got the idea for the paper after spending time with leading analysts and traders at a conference. "These guys are a pretty weird bunch," he says. "They're very rational and very competitive."
Dr. Zak wanted to see if he could find the genetic signature of this personality type. Did certain genes correlate with investment success? What's the difference between the prudent decisions of somebody like Warren Buffett—he's famously unwilling to invest in bubbles—and the reckless bets that cause so many other traders to lose vast sums of money?
http://online.wsj.com/article/SB1000142 ... 97928.html
The Wall Street Gene
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MachineGhost
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The Wall Street Gene
Last edited by MachineGhost on Fri Feb 10, 2012 8:46 am, edited 1 time in total.
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Re: The Wall Street Gene
Arrogance seems to be what sinks many of these Masters of the Universe.
Q: “Do you have funny shaped balloons?”
A: “Not unless round is funny.”
A: “Not unless round is funny.”
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MachineGhost
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- Joined: Sat Nov 12, 2011 9:31 am
Re: The Wall Street Gene
Indeed, I try to always cultivate humility so I don't go off the deep end. Fortunately, I seem to have balanced my dopamine-output. I rarely get excited about trading or investing anymore; its all just numbers and calculations and formulas, but it could be I'm just too jaded.MediumTex wrote: Arrogance seems to be what sinks many of these Masters of the Universe.
In fact, I think I get a dopamine boost from arguing on this forum!
MG
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Re: The Wall Street Gene
Warren Buffet seems to be fairly grounded. He never left his home state and still lives in the same house he purchase 40-50 years ago. I doubt that too many Goldman Sachs employees can make the same claim. Then again, maybe it doesn't make any difference and I may be pre-judging GS emplyees.MediumTex wrote: Arrogance seems to be what sinks many of these Masters of the Universe.