Stupid quote of the week comes from Paul Tudor Jones, a hedge fund billionaire, who said about women brokers:
“As soon as that baby’s lips touched that girl’s bosom, forget it,” Jones said, motioning to his chest. “Every single investment idea . . . every desire to understand what is going to make this go up or go down is going to be overwhelmed by the most beautiful experience . . . which a man will never share, about a mode of connection between that mother and that baby. And I’ve just seen it happen over and over.”
Jones has since said he meant women couldn’t compete with the most high-powered male traders.
Here’s a video of Christine Lagarde, International Monetary Fund chief, when asked: If Lehman Brothers had been Lehman Sisters.
In spite of the prejudice against women at the highest levels of finance, hedge funds run by women continue to out-perform those run by men. One British study attributes the difference to testosterone drool. Women are not affected by peer-pressure and testosterone-fueled risk-taking.