Discussions about personal psychology for the individual trader.
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If you were to take on a partner and the following two criteria are the only things you can base your decision on, what would the % breakdown be?
- Intellectual Abilities
- Emotional Balance
Would you want the person to be 50/50? or 100/0? or ??/??
What kind of a "balance" would you choose?
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Life is all about balance..
- Roundtable Fellow
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I would lean towards emotionally stable. I have found that at least for me it is easier to work on ones intellectual ability then it is to change someones emotional control. I say this having worked with an all out nut for 3 years that is extremely bright but a total wack job. I also work with one guy who isnt what you would call the sharpest knife in the drawer but is able to learn well and is disciplined. Basically one is humble and slow and the other is loud obnoxious bright and a freak. I like the "less smart" co-worker more. Plus he is a better trader. It took a while but he does well and is consistent. I have found this to be true with clients as well. Of course why cant we just have super bright and level headed friends, partners, and clients?
- Roundtable Knight
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I would agree with dctag. I had a conversation a long time ago with my brother about how we would hire employees if we had our own company. The extreme cases being:
1. nice, but not intelligent
2. really intelligent, but a big jerk
It would be a huge hassle to work with the jerk, and my brother believed that everyone is trainable if they had an open ear. Fortunately, very few people fall into these extremes, and it's likely that you can always find nice people who have the ability to learn with an open mind.
I think trading is similar in this fashion: having a stable temperament means you can follow the rules. Emotional instability means you cannot follow your brilliant trading system. So I vote for 100% emotional intelligence.
By the way, my brother said that the only intelligent jerk he wants to have on his side is a lawyer.
Last edited by edward kim
on Fri May 09, 2003 2:03 am, edited 1 time in total.
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Having worked for companies that fell into the trap of trying to hire everyone in a similar type I'd expand the definition.
If I wanted someone to analyse new ideas or write software (while I ran the human interface) then I would go for IQ and keep them away from people
. I think Drucker said something about hiring for strengths and the only person you would exclude entirely being someone you wouldnt want to work near your children (huge misquote I'm sure).