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Quote of the week: Sheelah Kolhatkar

From New York: “According to a new breed of researchers from the field of behavioral finance, Wall Street’s volatility is really driven by our body chemistry. It’s the chemicals pulsing through traders’ veins..."

“According to a new breed of researchers from the field of behavioral finance, Wall Street’s volatility is really driven by our body chemistry. It’s the chemicals pulsing through traders’ veins that propel them to place insane bets and enable bank executives to make risky decisions. And because the vast majority of these traders and finance executives are men, the most important chemical in question is testosterone. One could argue that technology—the ability to make enormous trades in the blink of an eye with supersonic computers—only exaggerates the primal, emotional element, allowing people to respond in a flash to their biochemical urges. The better the machines, the more our animal instincts take over.”

Sheelah Kolhatkar in New York magazine

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