Monday, September 19, 2005

PSYCHOPATHS ARE GOOD TRADERS

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By Elaine Meinel Supkis

Just over the wires comes this stupid story that I just have to comment on, my brain must be disintigrating. Oh well. From Yahoo News:
A team of U.S. scientists has found the emotionally impaired are more willing to gamble for high stakes and that people with brain damage may make good financial decisions, the Times newspaper reported Monday.

In a study of investors' behavior 41 people with normal IQs were asked to play a simple investment game. Fifteen of the group had suffered lesions on the areas of the brain that affect emotions.

The result was those with brain damage outperformed those without.

The scientists found emotions led some of the group to avoid risks even when the potential benefits far outweighed the losses, a phenomenon known as myopic loss aversion.

One of the researchers, Antione Bechara, an associate professor of neurology at the University of Iowa, said the best stock market investors might plausibly be called "functional psychopaths."

Fellow author, Baba Shiv of Stanford Graduate School of Business said many company chiefs and top lawyers may also show they share the same trait.

"Emotions serve an adaptive role in speeding up the decision-making process," said Shiv.
We already know that psychopaths run our economic system which is why it always ends up going off the damn cliff. Always! My thesis is, doing it makes one become a psychopath! Look at all the manias that have swept humanity for centuries. All follow the same path: a clever way is discovered to make money without doing anything useful at all, more and more people do it more and more and go insane and then the whole sheebang collapses into rubble, destroying the lives of everyone.

This "thoughtless" method of making money is certainly true...only in an up market. In a down market, everyone loses money the exact same way! Previous studies, pitting monkeys throwing darts or bananas always show the monkey, via random chance, beating out the professional investors! So we can truly say, being stupid means winning the trifecta like Bush...NO!

What it means is, the irresponsible, reckless psychopaths destroy economies just as relentlessly as they destroy humans, our planet and our collective sense of sanity.

Humans are the insane ape. This is our strength but also our weakness. We are creators who destroy almost as rapidly. Watching the coming train wreck, one can only say, unemotional, stupid husksters can ride this mess all the way down into the pit of hell. The same brainless idiots who are adding on hundreds of billions of dollars in debt while destroying whole cities and building nothing very useful in the long run are asking for trouble in a big way. They are not prudent, wise or useful, even, they are leeches of the worst sort.

If allowed free rein, they go out of control and take risks that are totally unacceptable. Grasshoppers playing the fiddle while the ants work only to freeze each winter, that is what they are.

The fact that this stupid, heartless article celebrates these sorts of people ticks me off as one can obviously see.

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