Goodbye Gordon Gekko, Hello Jamie Dimon
"It's time to say goodbye to Gordon Gekko behavior," Anthony Scaramucci told Big Think. "It's not good for society. Money has an intoxicating effect on people."
Scaramucci is the founder and Managing Partner of SkyBridge Capital and author of the new book, The Little Book of Hedge Funds: What You Need to Know About Hedge Funds but the Managers Won’t Tell You in which he lifts the veil on an industry that is shrouded in secrecy.
Despite JP Morgan's recent $2 billion trading loss (and estimated $15 billion loss in market value), Scaramucci applauds the company's CEO Jamie Dimon for "speaking to the press and refusing to sweep the $2 billion loss under the rug." In fact, in Scaramucci's recent interview with Big Think, he points to Dimon as a model for young people starting their careers on Wall Street today. Other highlights of this interview include:
"The way banks work, there will always be risks. There will always be mistakes. There is no cradle-to-grave security."
On Mass Affluence
"I'm not a populist, but I do want to popularize the hedge fund industry."
"When I started at Goldman Sachs I remember being told 'If you talk to the press, you will be fired.' The world has changed now."
Watch the video here:
Image courtesy of Shutterstock
Young people could even end up less anxiety-ridden, thanks to newfound confidence
- The coronavirus pandemic may have a silver lining: It shows how insanely resourceful kids really are.
- Let Grow, a non-profit promoting independence as a critical part of childhood, ran an "Independence Challenge" essay contest for kids. Here are a few of the amazing essays that came in.
- Download Let Grow's free Independence Kit with ideas for kids.
Edward Snowden lists services that will protect your privacy with just a few downloads.
We must rethink the "chemical imbalance" theory of mental health.
- A new review found that withdrawal symptoms from antidepressants and antipsychotics can last for over a year.
- Side effects from SSRIs, SNRIs, and antipsychotics last longer than benzodiazepines like Valium or Prozac.
- The global antidepressant market is expected to reach $28.6 billion this year.
Or is doubt a self-fulfilling prophecy?