I did my time on WS - albeit I never felt comfortable there. I wasn't comfortable with the people and the way we had to do business - not the trading. I was into the markets since I was 15. I figured, WS would be the best place to hone my skills. So why is that main street vilifies wall street so much?
Simply because of the opulence. If you have been to the Financial District - or as the cool kids call it FiDi, you will know it's full of 20 somethings and 30 somethings acting like they're Gordon Gekko. Capitalism, personified, doesn't look like a picturesque landscape. Just picture Scrooge McDuck swimming in his vault of gold coins. Furthermore though, you also have to deal with the fact that these are the biggest drug and alcohol users in the world. Perhaps the substance abuse is a coping mechanism to deal with the pressure to perform. Perhaps it's due to other issues people have there. But there is one thing that is certain - the highs definitely come with painful lows. I'm a west coast kid - raised with morals and a Swedish work ethic. I was by no means poor but our family was considered middle class. You can imagine the huge adjustment I had to make moving to a place where nothing matters but money and glory. I did my best to cope and as soon as I felt like the last vestiges of my soul was leaving me, I had to get out. There is simply nothing wrong with making money. I think it's the way it's done on WS or in the City that makes it so controversial. I didn't suddenly grow a conscience after the entire capitalistic system made me money. But what separates me from others is perhaps I do have a conscience and a sense of morality. I grew up learning to value what I have. I remember in college I had $200 to my name and $70,000 in student loans. I had to work my way through university while being a full-time student. The capital markets took care of my liabilities as I put myself through school. There's nowhere else in the world that can generate a huge return in so little time but the markets. So that, there, is the great thing about the markets. It's only when greed and the desire for more money ruin the financial system. Greed is an inherent human trait and so is pride. This is what I'm trying to fight. It doesn't mean I don't have an ego. It doesn't mean I've fully conquered greed. But I think I can say that I've simply eliminated whatever bloated personality traits I badly developed on WS. Everybody has insecurities. I do too. However, it's hard to develop insecurities when I have everything I want and live simply. To live simply is to live happily. To live happily is to be content. Something to reflect on... -Gavin
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Multiple AuthorsTraders from Equity Sense will be writing on this blog on positions and other market-related things. Archives
May 2018
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