Culture of excessive risktaking permeates industry from "summary" of The Money Culture by Michael Lewis
In Wall Street, risk-taking is not just a part of the job - it is the job. Traders and investment bankers are constantly pushing the boundaries, seeking bigger and riskier bets to earn higher profits. This mentality of excessive risk-taking has become deeply ingrained in the industry, shaping its culture and driving the behavior of those within it. The allure of quick riches and the fear of missing out on lucrative opportunities drive individuals to take on more risk than they can handle. The pressure to outperform peers and deliver high returns to investors further fuels this culture of excessive risk-taking. In the high-stakes world of finance, taking risks is not just encouraged - it is exp...
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