Again from one of my favorite blogs, Pajamas Media… The Truth About Traders!
Here are some of my favorite quotes;
The trading floor is a slice of Americana. Santelli descried it as a cross section of America, and it is. No matter which floor you walk on — the NYSE, CME, CBOT, or CBOE — you will see people of all skin colors, all economic classes, and from all walks of life. Democrats and Republicans. It’s a place where you can see a Harvard MBA rub elbows and fight for a trade with a person that barely graduated high school.
Some more;
Here is what is very different about traders and most Americans. Traders live in a very risky environment. They make decisions very quickly that will make or lose a lot of money. They have extremely high stressful jobs, and there is no guarantee that they will have their jobs tomorrow. Traders are pretty confident and humble all at the same time. Things happen on a trading floor in seconds, and those seconds mean the difference between success and failure. It’s really living life on the edge of a razor in the most competitive environment organized by mankind.
MY FAVORITE!
This is why it’s particularly irksome to a trader to see General Motors get bailed out. It really bugs us when we see people that overreached in the housing market get bailed out. It’s especially galling when the government raises our income taxes to pay for it all. The money is hard and risky enough to make without the government confiscating it. There is no such thing as redistribution of wealth on a trading floor.
The trading floor is the most democratic, entrepreneurial place in America. Markets don’t care about who you are, what school you went to, how your dressed, or what skin color you are. Markets only care about the best bid and the best offer. They are oblivious to everything else.
From the People’s Cube—LOL!
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