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Paul Tudor Jones controversial comment about women traders
Most of you probably saw this in the news, I thought I'd just post it here in case anybody wanted to discuss. Personally, I don't think this is as controversial as some deemed it to be. Most of the news coverage about it cut out a lot of the clarifying explanation, which I thought was important and more complimentary to women than covered.
Not really all that controversial. It's all based on facts from biology and physiology. A mother that has at least one child, as long they're fairly sane, will focus more on the health and well being of the child than anything else. It's biologically ingrained into our bodies as far as I know.
It's an unfortunate contrast between his reply and Jeff Walker's right after him. Some of the best traders I've had to pleasure to work with in my career are women. The real explanation is that the majority of the industry is composed of hedglings from investment banking - e.g. JPM, UBS, MS, GS - who eventually move over to the buy-side. However, the investment banking industry is particularly male-chauvinistic and the elements of hazing still exist on trading floors.
I've seen a particularly talented intern get rejected because her "hair was too curly". In Tokyo, there is a preference for women interns whose behave respectfully and act their place as a traditional, Japanese housewife character - and because of this, the truly capable characters are weeded out and you often see much fewer male recruits than female ones. But the industry is changing for the better.
btw: Kathy Siedlecki was one of the best traders on the floor of the CBOT, albeit she was part of a very small minority of female traders that enjoyed any longevity in the pits.
Not quite sure if their performance was affected, but certainly their priorities were. In either case, pit trading is vastly different than screen trading. Considerably more physical and abusive to the psyche, which I'm sure went a long way in making a female trader's course of action appear more logical.
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
Posts: 796 since Oct 2009
one the one hand,
you have industry experience talking, and never quite seeing anyone that met up to his standards or expectations remain long enough to have made an impression....
on the other hand,
you have academia not wanting to set limits and boundaries for women, who represent a disproportionately larger percentage of the student universe than men, and
academia not wanting to contradict themselves in all other areas of educational and secular achievements by agreeing with Paul, on his comments
on the other hand,
you have the challenge of traditional roles we play in life and society verses the newer modern approach of non-traditional roles in life and society clashing, all within this panel of talking heads
so, there you have it, three sides of the issue,
its not about the nail (cute video....)