Fooled by randomness | Book reading | Smooth Peer Relations

Smooth Peer Relations

As the reader may already suspect, my opinions about randomness have not earned me the smoothest of relations with some of my peers during my Wall Street career (many of whom the reader can see indirectly - but only indirectly - portrayed in these chapters). But where I had uneven relations was with some of those who had the misfortune of being my bosses. For I had two bosses in my life of contrasting characteristics in about every trait. 

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I am still amazed at this flamboyant man's obsession with risks, which he constantly played in his head - he literally thought of everything that could possibly happen. He forced me to make an alternative plan should a plane crash into the office building - and fumed at my answer that the financial condition of his department would be of small interest to me in such circumstances. He had a horrible reputation as a philanderer, a temperamental boss capable of firing someone at a whim, yet he listened to me and understood every word I had to say, encouraging me to go the extra mile in my study of randomness. He taught me to look for the invisible risks of blowup in any portfolio. Not coincidentally, he has an immense respect for science and an almost fawning deference for scientists; a decade or so after we worked together he showed up unexpectedly during the defense of my doctoral thesis, smiling from the back of the room. While Kenny knew how to climb the ladder of an institution, reaching a high level in the organization before being forced out, Jean-Patrice did not have such a happy career, a matter that taught me to beware of mature financial institutions.

It can be disturbing for many self-styled "bottom line" oriented people to be questioned about the histories that did not take place rather than the ones that actually happened. Clearly, to a no-nonsense person of the "successful in business" variety, my language (and, I have to reckon, some traits of my personality) appear strange and incomprehensible. 

To my amusement, the argument appears offensive to many. The contrast between Kenny and Jean-Patrice is not a mere coincidence in a protracted career. Beware the spendthrift "businesswise" person; the cemetery of markets is disproportionately well stocked with the self-styled "bottom line" people. In contrast with their customary Masters of the Universe demeanor, they suddenly look pale, humble and hormone-deprived on the way to the personnel office for the customary discussion of the severance agreement.

Julia's notes:

1. He taught me to look for the invisible risks of blowup in any portfolio.
2. He forced me to make an alternative plan should a plane crash into the office building