Here's an article about what traders can do to get a bigger bonus next year. The article focuses on results of a study which are in a new book, ``Traders: Risks, Decisions and Management in Financial Markets''. Here's the intro:
Disappointed with your 2004 bonus? Traders, it's time to ditch those New Year resolutions to build bigger biceps or slim that waistline, and give your personality a workout to earn more in 2005.Be an introvert. Keep your emotions stable. Stay open to new experiences. Oh, and try not to be misled by randomness, stop thinking you are in control of the situation, and don't expect any help from your boss.
Those are the conclusions of a study on what makes a good trader by four U.K. academics specializing in psychology and behavioral science. To get answers, the quartet interviewed 118 London-based traders and managers -- only two of them were women - - from four unidentified investment banks, three with U.S. headquarters and one based in Europe
(Thanks to Michael Panzner for passing this along to me.)
A quote:
"My third maxim was always to seek to conquer myself rather than fortune, to change my desires rather than the established order, and generally to believe that nothing except our thoughts is wholly under our control."
-Rene Descartes