If you have worked in the trading industry and/or attempted to perform at an elite level in athletics, then you understand…
Providence Trading Group takes great care in regard to how to prioritize what qualities one should try to identify and develop in people one would invite into the workplace. (Note that we don’t use the word employee. More appropriately and accurately, it’s people and relationships at work in industry, not employees.)
Some of what we see happening with many trading interests seems to demonstrate that many are not looking for the right characteristics in the people they invite into the workplace. For instance, a trend that preceded and coincided with the downfall of the financial sector was to recruit an inordinate amount of “quants”. The “quant” with no basis in reality for much of their product was given carte blanche to corrupt the financial system. The foreboding that the tale “When Genius Failed” offered, ubiquitously read in the last decade by those in the financial industry, seemed to go unheeded. The industry is now over run with those who can’t admit defeat.
Character above all else
Winners are what we think one should look for first in a pool of recruits. Increasingly in modern society it seems as though winners are losing their rightful place as the position to which we should aspire.
A competitor sees sport as an opportunity to come out the other end of a challenge or contest and obtain winner status. Contests in sport give an individual more immediate feedback concerning the question a human being should feel obligated to perpetually answer – Am I better?
Answering this question takes courage. Answering this question requires one to face the fact and realize that often times one is not better. For every win a competitor notches one has had many losses. It is nauseating to hear those who lack courage explain a winner’s success as having more to do with innate ability than honest, hard work.
What is beautiful about sport and creates a great need and demand for those who have excelled in sport is that losses can not remain hidden. A wrestler’s loss is obvious to all in attendance. A tennis player’s fault occurs on center court. A fumble on the goal line leaves the crowd on the edge of their seats.
What the athlete does in response to these failures contains the drama in sport and is how the sort of character most in demand in business is forged. Recruit a staff of people like Dan Gable (pictured above) and recruit competitors who know the path to victory is not pretty. Give me winners, you can take “quants”.