John Coates, a senior research fellow in neuroscience and finance at the University of Cambridge, has a theory. He says there would be fewer stock market bubbles and crashes if women and older men handled most of the trading. “There is less diversity in the financial world than in the military,” he quips. “On Wall Street, we have one slice of the population -- young men -- running our trading floors. That leads to extreme behavior: They go wilding.”
Cycling’s governing body said the president of the International Council of Arbitration for Sport suggested members for a independent panel that will investigate doping in cycling and the influence of Lance Armstrong.
Nancy Davis , a rising star at Goldman Sachs Group Inc. , left in January 2008 after an eight-year run betting the firm’s money on derivatives to become a portfolio manager at Highbridge Capital Management LLC. She lost that job 10 months later when the hedge fund cut back in the recession.
Nobel Prize-winning economist Joseph Stiglitz portrays the U.S. government as the billionaire’s best friend, while former banker Dambisa Moyo presents a dark look at China’s “commodity crusade” in two of the best business books so far this year.
Testosterone drives traders to take excessive risk, while a Wall Street swindler dupes a U.S. president and triggers a market panic in two of the best business books so far this year. Here’s a list of recommended titles.