What's the most selfless act you've seen someone doing in finance?

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I was just reading about monks and their selfless lifes. It made me think about how this industry is ruthless almost by definition. Surely there must be some selfless people in finance though, do you know anyone or someone who's done a genuine good thing while being in IB? Would love to hear your stories

Comments (40)

 
  • Prospect in IB - Gen
Jul 17, 2020 - 4:31pm

as time passes, questions asked on WSO are growing increasingly weirdly specific

Array
 
Funniest
Jul 17, 2020 - 7:07pm

I post on WSO.

You, the reader, are enlightened.

Commercial Real Estate Developer
 
Jul 17, 2020 - 7:35pm

CRE:

I post on WSO.

You, the reader, are enlightened.

You know, I really just do it for entertainment value. You are a better man than I.

I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
 
Jul 17, 2020 - 7:53pm

for our executive team to talk to us pleb juniors to donate our time and money to solve systemic racism and shit for almost an entire 2 minutes! then going back to their bajillion dollar lifestyle. was super generous and I felt personally impacted.

but seriously fuck the system of people prescribing generosity without doing it themselves or pandering. at the same time, I’d do it too if I was in their shoes (gotta say something).

on an extremely serious note the IB:PE world is really tough to break into and succeed because it requires so much relationship building and not screwing up. the nicest things I’ve seen are people taking the time out of their day or going out of their way to help and mentor someone else out, either just opening their door or actively mentoring and working on things that improve the lives of kids who will never give it back but will hopefully pay it forward. it’s small and incredibly big, and happens so much and we all benefit from it in some degree. feedback and advice that was unsolicited but helpful, etc. someone is always paying it forward and that is the best thing about this industry. the hardest part about it being the most rewarding too. god bless America.

 
Jul 19, 2020 - 1:54pm

Welles was a big motivation for me to pursue my MSF at BC and I referenced him in my essay to the school - thank you for the reminder to be more selfless.

Few players recall big pots they have won, strange as it seems, but every player can remember with remarkable accuracy the outstanding tough beats of his career.
 
Jul 21, 2020 - 2:51pm

Thank you for this.

I had no idea who Welles Crowther was until I saw this. Really brought a tear to my eye.. We should all strive to be like Welles. I think this entire community would be a better place if every one of us had even an ounce of the selflessness and kind spirit that Welles had.

Array
 
  • Associate 1 in IB-M&A
Jul 19, 2020 - 2:52pm

Back when I was in undergrad, one of the senior brother in my fraternity took an hour every weekday afternoon and got all the pledges interested in finance and consulting, and walked us through accounting basics and case studies. He didn't have to, but he said one of the alums did that for him, and he was hoping to pass it on. He was one of those crazy smart guys who played a sport, drank as much as possible, was involved in student government and so many clubs, and still got a MF PE offer. I'm eternally grateful for that, I wasn't sure if I wanted to pursue IB, but thanks to him, I was prepared when recruiting rolled around. It's not as serious as someone giving their life for another, but that's one of the nicest things someone has ever done for me, to give away 5 hours a week in their senior year to help those who might need it later down the line.

 
Jul 19, 2020 - 4:46pm

Our lord and savior John Bogle who founded Vanguard probably ended up doing the most for people in the long run by decreasing the cost of mutual funds/ETFs

Quant (ˈkwänt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.

 
  • Prospect in IB-M&A
Jul 22, 2020 - 2:42pm

Alumni from my school is really successful - BB, then top PE, then started his own hedge fund. He offered "internships" to anyone who was interested this summer - I sent him an email asking to join him and he said sure. we have been calling every week as he teaches me the ropes of pulling together a great proposal (he's an activist investor). I've never learned from someone so experienced and successful so it's really incredible. Hope i can be like that one day

 
Jul 24, 2020 - 4:26pm

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

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