MSNBC Insinuates Traders Can Be Worse Than Psychopaths

Quote from Maverick74:

You must be new around here. I have a habit of being argumentative for the sake of being argumentative. :)
Ya think???? :D
 
This is the rub.

Traders at banks like are frequently seen portraying themselves as the best and brightest.

However, many of us have seen them trading their own money. They seem to blow up bigger and more quickly than the average joe.

so we have always been skeptical of giving them any credit as traders.

I have also dealt with wall street bankers in the mergers and acquisition side of things. I never met a wall street banker with real integrity. They will lie in the most complicated manner, but they will lie.

Finally, I grew up in Greenwich... I knew some top individual traders and hedge fund guys. The guys that made real money had integrity and honor.

So my view is that integrity and honor indicate someone who has self cleared. And that part of being able to trade your own money properly is the ability to be honest with yourself.

I therefore conclude most wall street bankers could not trade their own money for a living.
 
Quote from Maverick74:

You must be new around here. I have a habit of being argumentative for the sake of being argumentative. :)

Admittedly yes, I am a forum noob. Thanks for the trial by fire :)
 
Quote from DAS Trader:

Ok file this one under WTF. According to MSNBC:

Disturbing new research about financial traders and their personalities may shed some light on the behavior of Kweku Adoboli, the so-called “rogue” UBS trader who allegedly lost the bank $2.3 billion through unauthorized trading.

A new study from a Swiss university finds that financial traders are more uncooperative than psychopaths and that they have a greater tendency for lying and risk-taking.

As part of their executive MBA thesis at the University of St. Gallen in Switzerland, forensic psychiatrist Thomas Noll, a chief administrator at the Pöschwies prison near Zurich, and co-author Pascal Scherrer studied the behavior of 28 financial traders in a decision-making game, comparing their performances with those of people who were diagnosed as psychopaths.

They expected to find that, like the psychopaths, the traders would be uncooperative with others, but that they’d perform better at the game because, as Noll said, traders “are supposed to be good at making money. In social interactions, they’re supposed to be good at performing.”

But the two authors were shocked to discover that the traders were actually more uncooperative and egocentric than psychopaths when playing a prisoner’s dilemma game -- a type of gaming scenario where participants can choose to cooperate or betray each other.

Moreover, even though the traders lied and took risks more than their psychopathic counterparts, their performance at the game was about the same as the control group. This means the traders not only didn’t play well with others, they also didn’t do any better at the game than regular Joes.

http://bottomline.msnbc.msn.com/_ne...ess-than-psychopaths-study-shows?ocid=twitter

Rip their fucking heads off and shit down their necks!

that's the spirit. :D
 
1 Billion Serial Killers

It is said that serial killers for example tend to have a history behind them, such as cruelty to animals as a young child, killing and disecting animals, anger and aggression, withdrawal from society and more - all present from a young age.

But there are atleast 1 Billion hunters in this world who kill animals for food everyday.

There are atleast 1 Billion people with anger and aggression and who are withdrawal from society and more.

Does this mean there are 1 billion potential serial killers in this world?

Middlle east countries or Muslim countries are perfect examples for 1 Billion serial killers.

But there are aggressive and dangerous people in all the countries. So there 2 billion potential serial killers in world society.

Atleast 4 Billion people are retard or have mental problems.

Look, what is going on in the world society under "Obama's false rule".
 
Quote from jem:

This is the rub.

Traders at banks like are frequently seen portraying themselves as the best and brightest.

However, many of us have seen them trading their own money. They seem to blow up bigger and more quickly than the average joe.

so we have always been skeptical of giving them any credit as traders.

I have also dealt with wall street bankers in the mergers and acquisition side of things. I never met a wall street banker with real integrity. They will lie in the most complicated manner, but they will lie.

Finally, I grew up in Greenwich... I knew some top individual traders and hedge fund guys. The guys that made real money had integrity and honor.

So my view is that integrity and honor indicate someone who has self cleared. And that part of being able to trade your own money properly is the ability to be honest with yourself.

I therefore conclude most wall street bankers could not trade their own money for a living.

I was going to write a reply to Lindq, who quite clearly didn't actually understand what they meant by "traders". You've done a good job of putting it all together.

An independent at home "trader" is not the type of personality that would be under scrutiny. It's obviously the institutional level guys that are employed in the TBTF universe that are under the most scrutiny. How many examples have we seen of these guys who can basically bring down an entire bank with their sociopathology.

The independent guy has to live with his losses, so it's obviously an entirely different type of personality. The sociopaths that are betting billions for banks, hedge funds, etc., in most cases, have their downside capped and are free to just make these asymmetrical bets that can collapse entire economies.
 
Quote from denner:

It's obviously the institutional level guys that are employed in the TBTF universe that are under the most scrutiny. How many examples have we seen of these guys who can basically bring down an entire bank with their sociopathology.

You're guilty of the same hasty generalizations as the authors of the ridiculous "study" posted by the OP.

You hear of a 'few' rogue traders in the past decade, and draw a conclusion about thousands of others?

IMO, generalizations like this are a very bad and dangerous habit to get into.
 
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