by Rick Nason, PhD, CFA
Partner, RSD Solutions Inc.
When I worked on a trading desk in New York I always made it a point to read the New York Times rather than the Wall Street Journal. Those who know me will laugh and wonder why – I am not what you would call your typical NYT person.
There are three main reasons why I did so:
- Everyone else read the Journal and thus if there was something worth knowing about in the WSJ, I was sure to find out about it through the chatter on the desk
- It gave me a different point of view and something different to talk about on the desk and with my customers (most of whom also read the WSJ)
- The NYT frequently left me angry after reading its editorials which I often did not agree with. I figured it was good to get out of my comfort zone on a regular basis.
Does everyone in your risk department read the same newspaper? Do they easily and comfortably get into groupthink having their ideas continually and consistently generated from the same source? Do their sources for information generate a broad portfolio of ideas? (Are a lot of ideas a good thing?) Do they ever wander outside of their comfort zones? Do they get passionate about ideas?
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