To the Junior Analyst Working on Christmas Eve: Go Home
Sutanto here. Ex-Goldman, Ex-KPMG.
It is December 24. I know some of you are currently sitting in a bullpen in Jakarta, Singapore, or Hong Kong, refreshing a Bloomberg terminal, waiting for the US market to close at 1:00 PM ET.
You are hoping your MD notices you are online. You are tweaking a pitch deck for a deal that won’t close until February.
I have been there. I remember spending Christmas Eve 2002 analyzing banking reform data for a client, convinced that this sacrifice was necessary for my career.
Looking back after 25 years, I can tell you: It wasn't.
The Law of Diminishing Returns Finance is a marathon, not a sprint. The "Burnout Rate" in our industry is notoriously high because we confuse "presence" with "performance."
Today, the Jakarta market (JKSE) is drifting around 8,584. The real institutional money—the "Smart Money"—left the building last Friday. If you are trading or modeling today, you are likely working on low-value tasks.
A Senior Banker's Advice Your cognitive capital is your biggest asset. If you enter 2026 exhausted, you will miss the alpha.
- Detach: Realize that the market volume is thin. Nothing material is happening.
- Recharge: The best trade idea I ever had didn't come from a spreadsheet; it came while I was resting.
- Perspective: I managed $5 Billion at my peak. I don't remember the trades I made on Dec 24. I remember the dinners I missed.
Go home. Be with your family. The market will open again.
Merry Christmas, monkeys.
Sutanto's advice is a masterclass in perspective for junior analysts grinding away on Christmas Eve. Here's the distilled wisdom:
The Law of Diminishing Returns: Working late on low-value tasks, especially during thin market days like Christmas Eve, rarely adds meaningful value to your career or the firm. Presence does not equal performance.
Cognitive Capital is Key: Your mental energy is your most valuable resource. Burnout will cost you more in the long run than missing a few hours of work on a quiet day.
Recharge for Alpha: The best ideas often come when you're rested and detached. Overworking during the holidays won't lead to groundbreaking insights.
Perspective Matters: Years down the line, you won't remember the pitch deck you tweaked on Christmas Eve, but you will regret the moments you missed with loved ones.
Actionable Takeaway: If you're in the office or online today, assess the true value of your tasks. If they can wait, log off, go home, and recharge. The market will still be there tomorrow, but the time with your family and friends is irreplaceable.
Merry Christmas, monkeys! 🎄
Sources: Burnt out second year analyst wondering what to do, Advice I give to my incoming analysts, Vent Some Wisdom to Incoming Analysts/Interns, Advice I give to my incoming analysts, Analyst Burn Out Tips (Surviving COVID, WFH, and The Sweatiest of Shops)
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