What’s up, everyone? Today, I want to rant a bit and tell you why I dislike the “finance bro” culture.
I’m part of the fund world, but I hope that this article along with my video can help change the culture.
“Finance Bro”
Who are they?
If you aren’t already imagining someone in your head, I’m talking about the super cocky rich guys that work on Wall Street and do drugs and flex Ferraris and all that.
And they’re big jerks!
Most universities have finance majors who have prideful personalities and think they’re better than everyone else!
Because of this culture, some people may think that to be a fund manager, you must be a jerk or over-obsessive with money.
On the contrary, I know so many humble, giving, and frugal fund managers!
There are people like Warren Buffett and Charlie Munger to name a few.
Despite what Hollywood depicts, I’ve seen that most alternative asset funds are run by humble people.
You go to the top of any fund, and you’ll find successful yet kind people who manage it.
So, is the stigma true?
Unfortunately, sometimes it is.
Those who are jerks on Wall Street end up burning out or being unsuccessful because they can’t see pass their own ego.
Those who identify their own faults and work to correct them and help others on their way are the ones who make it to the top.
Humility
A fund manager’s fiduciary responsibility is to manage their investors’ money. They serve their investors and team, not the other way around.
A few years ago, I was talking to an investor who was interested in my fund.
Like I said in my video, he asked me…
“What car do you drive? A Subaru? That’s perfect; you’re a good fund manager.”
He continued, “If you were driving a BMW or a Mercedes, I would assume that you were a poor money manager yourself and couldn’t take care of my money if you couldn’t take care of yours.”
“So yes, I’d like to write you a check.”
That was his due diligence of my character!
And remember, money amplifies who you are. You can be a nice, charitable person whether you have a lot of money or not!
Conclusion
So, that’s why I dislike the “finance bro” culture.
It tells us that if you are a fund manager or an affluent person, then you are/will be a jerk.
That is all up to you. It’s your decision on how you will treat others.
That’s it for today!
Thanks,
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DISCLAIMER: This content is for educational and informational purposes only. It is not to be taken as tax, financial, or legal advice. You should always consult a legal professional before taking action. Furthermore, this is not a recommendation to buy or sell any security. The content is solely just the opinion of the author