Anyone who has ever followed the market would know with its wild fluctuations would suspect that stock brokers are not entirely rational. Then think of the arrest of UBS trader Kweku Adobolifor allegedly squandering some $2.3 billion with a risky and unauthorized investment scheme. So stock brokers are not normal, they're more inclined to risk taking.
It's worse than that. According to a new study, they're more reckless than psychopaths. Der Spiegel reports: "Researchers at the Swiss research university measured the readiness to cooperate and the egotism of 28 professional traders who took part in computer simulations and intelligence tests. The results, compared with the behavior of psychopaths, exceeded the expectations of the study's co-authors, forensic expert Pascal Scherrer, and Thomas Noll, a lead administrator at the Pöschwies prison north of Zürich."
What's more striking is that the researchers found they're not even driven by making more money. The big thing for them is competitive advantage, screwing everyone else.
And that is a worry when you think about people's investments, retirement money and job prospects lying in the hands of these people.
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