Thursday, October 17, 2013

A Story of Trust

I am struck by a passage in an article about why it is a waste of time to get an MBA if you are over 40:
As a floor trader, you learned you could trust people’s word.  Off the floor, you really can’t trust anyone.  You have to verify everything, and people will stick a knife in your back.  Write things down, record things, have witnesses if possible.  People will lie, make things up, and change history to fit outcomes that they want.
It is nice to know that there are some places where people are honest and trustworthy. I find it interesting that many academics would be inclined to think that the trade floor would not be one of those places.