Suicide on The Street

The pressure to succeed in life is hard to measure. The one thing we know about Wall Street is that there are no crevices to hide from it. Hundred hour work weeks, pipsqueak VPs sending you for coffee and a life in a cage while your compatriots party their twenties away are enough to chisel frown lines on anyone's forehead. This is a life choice that I certainly can't hate, as I do believe in a correlation between suffering and success. Any pursuit is admirable if it is genuine and causes no harm to anyone but you and those you love the most.

This is why today I am bringing up a subject that nobody likes to talk or think about. Suicide. This is a very high stress game folks. Some of you are currently learning the hard way what many before you did in the same fashion. That is why the subject of mental health is one worth bringing up and mulling over seriously. The story of Jared Dillian, former trader at Lehman Brothers is a fine example. Things can spin out of control quickly, the only prevention is preparation.

With all of our talk about ambition and goals, we easily forget what it takes to get there. Investment banking today resembles a great many career paths from America's recent past. What I mean to say is that it is dwindling. There are less jobs, less opportunity, less deals out there and just as many (if not more)monkeys dreaming about ivory towers and bezel encrusted watches. The pressure and the stress levels are higher and will only continue to rise. Things are going to be this way for quite a while, if not permanently into the future.

Without giving you the routine about talking to people, eating right and sleeping well (not possible), I am just reminding you to keep track of your own pulse. The bad vibes can build up quickly and many of you will at some point find yourself face-to-face with the bottle, your jaw supported by the bar and a miserable fucker looking back at you in the mirror. Consciously focus on never letting it get to that point.

Even back in the 90's when a real live chimpanzee could pull deals out of his ass, I had buddies Wall Street over who were killing themselves over the stress, pressure and bad vibes that often come with the territory. The only real defense is realizing that none of this is all that serious. The world will keep turning and so will the money. You don't have to become the next power broker today. Sometimes, you are better off not being that rock star with endless exit ops.

Think about it. Think about Dillian. Think about all the guys whose names are not mentioned but who have been through it. Think about the future...and actually making it there.

 

Slightly off topic, but I flipped through the book at the store today and it's not half bad. It's something like the modern day version of Liar's Poker from a trader's perspective. Something that really stuck out was the part where he mentioned everyone goes into this thinking they'll be the next BSD like Soros or Moore or Dalio, but most of the people who are even fortunate enough to get their foot in the door wind up as bottom-feeding snails.

 

Anytime the topic of Wall St suicide comes up I am compelled to mention Phillip Heymeyer, a cotton trader who was a contemporary of many of the early macro traders. I believe he was actually Louis Bacon's boss when, in 1979, he blew his brains out after a string of losing trades. Below is an article about him from NY Mag....hope the link works...

http://books.google.com/books?id=lecCAAAAMBAJ&pg=PA46&dq=hehmeyer&hl=en…

 

Its important to keep perspective of what is really important, and save for rainy days, which might become years. A lot of us wrap our identities in being successful and having a big salary, a title, and the status that go along with it. It's all rather silly really- in most areas, the rug can be pulled out from under you in a second, and these days there is little to no guarantee that you will be able to just pick up and move to another bank in a similar role.

Live way below your means and you won't have a hard fall when sour times come. Take that money, bank it, avoid debt at all costs, and then you can walk away from the street at any time without resorting to a bottle of pills. You know what's more balling than a benz in the driveway? Still getting a good night's sleep when you lose your job or get a donut for a bonus because some douchebag a row over from you skirted risk controls and blew up your division.

 

wow, im sorry to hear that. There was an article in the wsj the other day about a BS banker who committed suicide by over dosing and jumping out of his window...this is just crazy.

my best wishes to him and his family.

 
NooK:
wow, im sorry to hear that. There was an article in the wsj the other day about a BS banker who committed suicide by over dosing and jumping out of his window...this is just crazy.

my best wishes to him and his family.

if by banker you mean a BS employee in equity research compliance (i.e. back office), then you're right on the money. in addition, the man had serious, recurring psychological problems. i'm sick and tired of the media sensationalizing things. what happened to him could have happened to any unstable person who happened to lose his/her job.

 

compblue, I dont think it really matters what ur position in life is, when tragedy strikes, it can take anyone. Many things have to occur b4 one loses it but it shouldnt lead to killing urself. BTW, this lehman guy was a senior VP or something in lehmans M&A division. Heard his "trophy" wife left him for greener pastures as soon as he lost his job, but who knows

 

i would say this. investment banking really needs to have more seminars on the treatment of analysts. The ones that were analyst promotes really do understand the grind and are more understanding. The associate promotes or laterals from corporate development may not really understand or care what goes on at the analyst or intern level. When your interning, clearly your goal is to get the offer and you do think it's the end of the world if you don't get it. We've all been there and it doesn't matter that you may not want to work there in the future, but if you can secure the offer, you can go through full time recruiting with a breeze, dangling the offer.

On another note, I don't think everyone is cut out for investment banking. That's why there is the internship. I mean I've seen interns wanting the job so bad they pull all nighters fixing stupid shit.

 

I think it might be troll?

When a plumber from Hoboken tells you he has a good feeling about a reverse iron condor spread on the Japanese Yen, you really have no choice. If you don’t do it to him, somebody else surely will. -Eddie B.
 

I dunno I am just as baffled by Steven Good, CEO of a Chicago real-estate auction firm. The guy had plenty of cash, a wife and kids and people who admired and respected him. Its funny that you raise this issue as I have been contemplating similar issues lately (sans suicide) as I begin to come into some legitimate sums of money. Is money the root of all evil? Is man inherently evil? Is it worth chasing paper at the expense of enjoying life? Shits deep

 

I can sort of understand.

Everything Merckle created for himself was falling apart. Volkswagen got swept by Porsche, and Ratiopharm, the pride of his family for forty years, would likely have to be sold off. Whether or not the guy is still rich, and definitely can survive, he's lost everything he's worked so long at.

Plus, with speculation in Volkswagen stock being the main reason for losing money, he lost it all in one go. He's powerless, and has no control over losing control. Everything is meaningless.

His son was also the head of Ratiopharm, and Merckle would've had to give the company up -he let down his family, too.

He didn't need money for anything anymore, and he already had luxury goods. Feeling good for him meant looking good to the family and running his company. He invested his entire life in it. It's like building a family with six kids, then suddenly five of them die in 9/11 or something you didn't know about/couldn't influence.

Sure, you have one left, but almost everything you've tried to build falls apart. The companies weren't just a financial investment for him, it was pretty personal.

Not to say I would've killed myself, I'm just speculating where he's coming from. I'm one of the $30,000 family income peasants.

 

Word.

I don't have an excuse, my bad. But Merckle's spent his entire life in there, yeah? For him, being happy is running the business. He doesn't need money anymore, but if he beats earnings estimates -it's validation. He's comfortable with himself, he can brag to his kids.

Maybe a better comparison is coming home to your family you not only just got laid off, but they'll have to give up their jobs, too. How are you going to feel?

 

Better comparison would be to those Japanese Businessmen who are the only providers in their families who get laid off. A lot of them hide it from their families and will just put on a suit everyday and go to a park. The suicide rate among that demographic is actually unusually high I think. It's mainly an issue of pride and sense of their purpose and who they are in the world. If they lose that, to them it's the same as losing everything.

 

I kind of understand too, being on the verge of liquidation of something you spent your whole life building is quite scary, and at his age he couldn't start over! This shows that doing a business is tough, it requires balls, to get through a downturn when there is no income, no salary, just stress and lots of hope that things will work out.

Hope the next billionaire who is thrown into this mess deals with it more positively.

 

I posted a thread about this and got called a zero hedge conspiracy theorist.

Something big is going to be happening soon...like another 2008 but probably worse. Not sure if it will be this spring or summer but things are definitely brewing.

alpha currency trader wanna-be
 

JP Morgan has something like a quarter million people that work there. For a fair comparison, you'd probably need to compare it to a town of the same size. Not trying to downplay this, but suicides happen everywhere and it is extraordinarily unlikely that the employer/school are what's causing this. When you have a huge pool of people, you are more likely to find examples of things like suicide.

 

JPM has a large amount of employees. Several hundred thousand. This is about the size of a mid size city. Now imagine everyone in this city was constantly stressed about work. They were constantly stressed about performance and making money. Imagine every single resident was under pressure. All of these people are in positions where there is a considerable amount of stress. I am not surprised this is happening. As for UPenn, its a school with a rigorous course load. Just like finance, students are expected to perform and have a ton of stress on them.

Array
 

Couldn't have said it better. SB to you. No matter the reason, it is terribly sad to hear of one ending their own life. The thing that brought most of us to this forum, you can't take it with you in the end.

 

This sounds like it's leading up to something, but I wouldn't call it unless I saw the suicides for 2013 and 2012.

Once I did bad and that I heard ever. Twice I did good and that I heard never.
 

Had no idea about all these. To everyone saying that statistically you should see about 30/100,00 according to US measures...yeah, maybe. But taking your sample size as all JPM employees...they aren't really your typical citizens of wherever they happen to be. So, among all JPM employees, I feel your expected rate per 100k would be much lower than 30. Just an opinion. I have a feeling that the majority of suicides in the US are among very low income segments of the population, unemployed, low education, etc.

"When you stop striving for perfection, you might as well be dead."
 

That 255,000 includes JP Morgan CHASE retail and commercial banking employees. In terms of their i-banking division, the amount of employees they have should be well within the GS to MS range. What makes these suicides unique, is that they are all from the JP Morgan investment banking division, and are mid tier employees who look like they would have otherwise promising careers. We're not talking about random retail bank tellers from idaho at chase offing themselves now.

 

There have been no suicides at JT Marlin this year. Just sayin'.

On a serious note, prayers to the families. Suicide is certainly difficult to make sense of.

When a plumber from Hoboken tells you he has a good feeling about a reverse iron condor spread on the Japanese Yen, you really have no choice. If you don’t do it to him, somebody else surely will. -Eddie B.
 

What a shame. Seems like the finance stress-related death/suicide bug is throughout all ages (Moritz Erhardt -> these middle-aged guys -> Zurich CFO). I am hesitant to say that they are all 100% linked to stress/greed/over-ambition/etc, but they all had the chance to get out of the kitchen.. More to life than the green faces.

Array
 

This is called selection bias, people commit suicides every day. Nothing is going to happen.

You killed the Greece spread goes up, spread goes down, from Wall Street they all play like a freak, Goldman Sachs 'o beat.
 

for someone who may want to be open about these being isolated cases to a specific workplace or industry or any community or group or whatever perhaps it could be "social proof" ..that guy did xyz so i will do xyz. that guy believes xyz i will believe xyz. etc

 

If I were to guess I would say it's just the stress that comes with the job that can lead to depression. Working those 80-100 hour workweeks week after week for years - only to realize what? You've given up your 20's for a fat paycheck and some nice suits. You've gained weight from the stress, balding, no romantic prospects, no much to talk to others about except topics that relate to your job.

That lifestyle isn't for everyone - it can really suck.

 

I like how 95% of these comments are copy and paste of all the top comments on reddit including OP

"If you survive to my age and you rack up a CV like mine, you can look at HR and say, "Fuck you. I don't try out."- Eddie
 
Tata Motors managing director Karl Slym died after falling from a hotel room in Bangkok in what police said could be possible suicide

One night in Bangkok and the world's your oyster The bars are temples but the pearls ain't free You'll find a God in every golden cloister.

One night in Bangkok makes a hard man humble Not much between despair and ecstasy One night in Bangkok and the tough guys tumble Can't be too careful with your company I can feel the Devil walking next to me

Read more: Murray Head - One Night In Bangkok Lyrics | MetroLyrics

Winners bring a bigger bag than you do. I have a degree in meritocracy.
 

The Buddhist got it right, except they were wrong about the reincarnation thing. Death is the abolition of the self, which means abolition of want/need. You are freed from wants/needs as you don't exist. As for those left behind - they'll get over it when they die, because they'll cease to exist at that point too.

Why don't I commit suicide then? I had an Irish Catholic upbringing and I get off on my own suffering and self-flagellation.

Those who can, do. Those who can't, post threads about how to do it on WSO.
 

If your in the industry, going to school or whatever you should consider learning the signs of suicide and suicide prevention if you haven't already. Most of the time there are signs and he/she could be reaching out to you and you wouldn't even know. In the beginning of my military enlistment I never used to pay attention to suicide prevention classes till it was a well known military problem. I, along with many of my colleagues had the mentality that it'll never be an issue for me so who cares, It might not be for you, but you never know about the people that surround you on a daily basis. Take it for whatever it's worth, but you could possibly save a life. Very sad stories nonetheless.

 

The trend of reporting suicides continues.

Suicide rates, murder rates, school shooting rates: these things are relatively constant over time. The reporting of these things changes. Look at who's doing the reporting, ask yourself what their overall focus/agenda is, and then you see things more clearly. It doesn't mean these things aren't horrible: they are.

But ask yourself why Malaysia fishing boat slaves and the 25 million human slaves around the world get no coverage.

Then, ask yourself if the news really is out to make the world a better place or report actual news....or if they're making a buck running with a story.

Get busy living
 

That's a valid point, and I know the economics of news stations and how they turn profit. That is by selling fear and articles or news coverage that will generate revenue through advertisements by making things suspenseful.

News stories about Malaysia fishing boat slaves or even african genecide doesn't get us to tune in or listen long enough for the ads to generate enough revenue, that is why they get "no coverage".

 
UFOinsider:

The trend of reporting suicides continues.

Human gullibility never ceases to amaze me.

[quote=Matrick][in reply to Tony Snark"]Why aren't you blogging for WSO and become the date doctor for WSO? There seems to be demand. [/quote] [quote=BatMasterson][in reply to Tony Snark's dating tip] Sensible advice.[/quote]
 

What I find interesting is the difference in the method of choice between men and women. Men seem to have a vague or very clear idea that if they blow their head off with a shotgun or jump out of a window of a tall building or a bridge it will create all sorts of extra chaos and exposure. While women prefer to chug down a bottle of wine filled with sleeping pills.

Follow the shit your fellow monkeys say @shitWSOsays Life is hard, it's even harder when you're stupid - John Wayne
 
heister:

What I find interesting is the difference in the method of choice between men and women. Men seem to have a vague or very clear idea that if they blow their head off with a shotgun or jump out of a window of a tall building or a bridge it will create all sorts of extra chaos and exposure. While women prefer to chug down a bottle of wine filled with sleeping pills.

any evidence of this ?

speed boost blaze
 

Sorry, comment got screwed up because the "add comment" feature isn't fully supported by my workstation.

Decades of sociology/psych research have shown that the majority of people attempting suicide are women. The majority that pull it off are men. Why? Women take pills and cut themselves. Guys use much more lethal means, like guns and explosives. Google it. While some overarching theory in social sciences is hard to quantify, the data sources that modern theory pulls off of are very detailed.

Get busy living
 
UFOinsider:

Sorry, comment got screwed up because the "add comment" feature isn't fully supported by my workstation.

Decades of sociology/psych research have shown that the majority of people attempting suicide are women. The majority that pull it off are men. Why? Women take pills and cut themselves. Guys use much more lethal means, like guns and explosives. Google it. While some overarching theory in social sciences is hard to quantify, the data sources that modern theory pulls off of are very detailed.

ahhh interesting makes sense - will take ur word for it

speed boost blaze
 

I think the bottom line here is that the media is making a buck on painting a grim picture of the state of morale in the finance industry. They're late to the party, people were way more bummed out four years ago. I don't have verification yet, but I'd venture that suicide rates within finance workers are not much different than the general population in a statistically significant amount. If I find a good study, I'll post here.

Get busy living
 
dynamite:
It seems that Wall Street Execs become all to familiar with laziness and forget what got them to the top in the first place: hard work...

True, and even take a look at some posts here circa 2007. There was a mentality that if you went to an Ivy, then your dues were already paid and doors should just open themselves for you and never shut.

 

Crazy.

If the sons actually did not have knowledge of their father's scheme, this is a sad sad story.

I wonder how Bernie's feeling now that not only did he defraud investors but killed his own son in the process.

Super Nintendo, Sega Genesis - when I was dead broke man I couldn't picture this
 

I do not have any remorse. Suicide should never become an option in ones mind. He should of thought about the ramifications before he decided to snitch on his father to the FBI. Its a mans world and pressure bust pipes. How selfish, now his 2 year old will have this hanging over his head as he grows up.

Yeah said it.... fuck it, you can call me an asshole for my opinion.

Please don't make me talk to you like an asshole...
 

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"I'd rather die than be a phony." - Patrice O'Neal
 

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