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Published online 14 April 2008 | Nature | doi:10.1038/news.2008.753
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The testosterone of trading
Changes in hormone levels may affect success in the financial markets.
Books and films often dramatize financial-market traders as macho gamblers. Now there may be scientific evidence to back up that pop-culture image: two researchers have linked testosterone levels to the success of traders in one London market.
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I wonder, does the same apply to women? Also, does a person's success in a competitive activity such as the market or sports depend only on the change from their baseline testosterone level or also on the baseline itself?
It is truly a wonder of the world how our thinking and behavior can be affected by organic chemistry. I recall that it so stimulated my flight reflex that I dropped out before the semester's end. Hormones in the market place, a small jump from the playing field. Harkening back to Dr. Brinkly of goat gland fame, this may bring new meaning to a "bull market." But as the matador illustrates, it is reason, skill, and execution that triumphs.
One wonders whether other forms of gambling would show similar results. It would be no harder to draw before-and-after saliva samples at a high-stakes poker tournament, or the race track.
This is a fascinating study, but the implications are pretty controversial, as testified to by this hilarious debate about its findings. Here's the link: http://www.236.com/blog/w/laurie_kilmartin_and_kevin_allocca/genitorial_sex_hormones_affect_5883.php