Is Sam Polk's perspective on Wall Street correct?
In case you haven't heard, a former wall street trader wrote this article on the NYT: http://www.nytimes.com/2014/01/19/opinion/sunday/for-the-love-of-money.html?_r=0
Not saying I agree with everything in it, but it reflects a lot of what I've come to realize about wall street culture. I love the drive for money, I really do - but the thought that it might never be enough terrifies me, it's like a dog chasing its own tail. Can anyone else relate to this? Anyone have any counterexamples, people who hit a certain level of wealth and became satisfied?
EDIT: I might have jumped the gun.
My recommendation would be to go about the whole thing in a humble way. Remember that you are where you are due to numerous external factors. Yes you may have studied your ass off and worked hard to get to where you are, but someone instilled those values of perseverance and hard work. You sucked on someone's tit or were fed from a bottle. You were changed whenever you took a shit in your pants, and not left to die in your own feces. You were taught to read and write. If you don't get the point, well here it is: Your success depended on way too many people, and unless you were born a deformed baby with thousands of fingers, then you can't count them using your hands.
The beauty of it all is that everyone is like this, even the MD sticking his dick in your work-life balance. Once you understand that no one individual is where he/she is today without the help of others, then it makes the whole "I can buy more things than you, and can afford a luxurious lifestyle" thing a piece of shit statement. Money isn't everything, and it sure as hell isn't acquired because you're a fucking god and did everything by yourself ('we all need somebody" - Bill Withers)
So, though it has been stated here time and time again, do what makes you happy. Don't do it JUST for the money, do it because you find it interesting and it'll make you happy. Yes, money is definitely a factor, but it shouldn't be THE factor, nor should it be the only factor.
Another shot. Boom. Peace
I think that you can definitely get addicted to money and it can be detrimental to the ethics of your work.
I think these types of articles tend to paint too broad a brush. I know plenty of ridiculously highly paid finance people that aren't wealth addicts.
They are, as Fuld said, in it for the game.
The effective altruism community seems like a good counterbalance to the behavior/problems he describes, though I can't help thinking that the point of the article is to drum up attention for his nonprofit.
Written at a third grade level for a third grade audience. I have a very difficult time believing that's how his views on Wall Street changed over the years. Sounds very conducive to a good discussion and applause from its audience, but certainly doesn't come across as very realistic or believable. Most of Wall Street isn't like that, and it feels more like he's just rehashing Liar's Poker in the Times. That "I was lost but now I'm found" mentality creates a very inspirational story and all, but it's not real life for most of us.
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