Archive for the ‘testosterone’ Category

April 15, 2008

High Testosterone Means High Profits

You can almost hear Gordon Gekko cheer. Financial traders are widely seen as filthy rich, brash, and, well, ballsy. Now it turns out that there’s cash in those cojones. According to new research from the University of Cambridge, a male trader’s daily testosterone level is higher on days when he makes more than he would in an average day. What’s more, the higher a trader’s morning testosterone level, the more money he’ll likely have netted before the close of business that day. Testosterone, in other words, can be good for business.

In the study, published Monday in the latest issue of the Proceedings of the National Academy of Sciences, a U.S. scientific journal, 17 London traders, aged 18 to 38, donated saliva samples over an eight-day period. Each time they did — once at 11 am, and again at 4 pm, book-ending the bulk of each day’s transactions — the traders, dealing mostly in futures, recorded their current profit-and-loss standing. (They were also quizzed to make sure that nothing they’d eaten or talked about outside of their work was acting on their hormone levels.)

The article completely ignores the existence of women. I know there are few women traders – and I for one am fine with that – but they do exist. I suppose they were afraid of going the way of Larry Summers.