(Originally posted on September 29th 2009.)
I no longer feel special. This realisation has dawned on me when I heard a group of grandmothers talking about exchange rates, markets going up and down and walking more than they used to so that they can save money because their pensions have got effected. In a years time nearly everyone have become experts in the financial markets. With each of them having their own view . I was blissfully unaware of the LTCM and Russian default crisis when it occurred. Today I can bet a year’s wage that most of the teenagers would know about Lehman, RBS and the collapse of the financial markets.
One of the people I learnt a lot from about hedge funds is today the person in charge of Alternative Investments at one of the major banks. I had invited him and his sons for a Chelsea football match. They must have been around 10. I watched with great intent when he was explaining to his son the concept of a P/E ratio. It was then that I had hoped that my kids would be interested in my line of work and I will be able to teach them about the markets along with a whole bunch of other things. Part of this is possibly the guilt of now knowing the details of my Dad’s work.
I do not know if I would push my children to work in the financial industry. However I will tell them about LTCM and Lehmans so that they will be prepared to handle the situation in whatever facet of life they end up being.