To test his hypothesis, Coates studied the effects of testosterone and cortisol levels on investment decisions. He found a link between chemical levels and trader behavior. High levels of testosterone led to increased risk taking. The risk taking, Coates argues, is not based on superior knowledge or skill but rather a chemical reaction to testosterone. He equates it to the "winner effect," where athletes that succeed at events feel invincible. In the finance arena, he equates this to the dotcom bubble, where "Traders were euphoric and investors delusional."
As with green investing, a gender lens comes in different strengths. Mild versions include mainstream funds and exchange-traded funds (ETFs), such as the SHE-ETF by State Street, that filter out listed companies with few women in senior management. Super-strength versions include funds that invest in projects benefiting poor women in developing countries. These may make it clear that they offer higher financial risk or lower returns, which investors may accept as a trade-off for the good that they do.
MS. HAILE: For me, I believe for me, for each of our countries we have to contribute and we have to give back, and I mean nobody will come to us to do our businesses. So, for us we're so happy we're establishing such an amazing bank. We have left a legacy. So, the next generation will aspire more, doing better for the continent, for generations to come. So, it's good to serve as role models.

“Increasing the percent of women will help teams ensure that they have diversity of thought,” Scott said. “When deciding whether or not to proceed with a particular investment, these teams will be better equipped to think about each opportunity from many different angles. If everyone in the room is the same gender and shares similar educations, backgrounds and life experiences, it can be difficult to fully think through the various opportunities and decisions. Diversified teams leads to enhanced company profitability and better investment performance.”


The most important thing you can do to change the investment gap is simple: Educate yourself. People who understand investing are less likely to be intimidated by it and more likely to do it. It’s not hard—you’re not trying to become a derivatives trader. You want to know whether you’re on the right financial track. Check out the articles on Investopedia or anything from Ron Lieber at The New York Times. (The one on how to win at retirement savings is great.)
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A number of members have approached us about how they could become more involved with WIN.  There are many ways to become involved including volunteering for a WIN Committee.  We are actively seeking volunteers for the Membership Sponsorship Committee.  Volunteering for a Committee is a great way to expand your professional profile and personal branding in the investment community. We encourage anyone who is interested in volunteering for a Committee to contact the WIN Administrator at ([email protected]) for more information.
Without investment, Facebook and Amazon might have been just interesting projects hatched in a dorm room or garage. Starbucks might still be just a few coffee shops in Seattle without investors who enabled the company to expand to over 20,000 stores worldwide today. The world's most innovative companies rely on investors to fund growth and expansion.

No. In your early 20s, you’re just happy to have a job. I loved the markets and the trading floor atmosphere. As you get more senior, the pay disparity, the accounts being unequally distributed becomes more apparent. It bothered me. The little frat boy jokes stuff was a constant drumbeat. It didn’t get to me that much. As I got into my 30s, I was bothered more by seeing young women come who were talented and leave because of the environment.

As we say in my country "you weren't crying when you were eating the meatballs". Why is she bringing it up now and not when it actually happened? Because it's a convenient time to come out of the woodwork and get some publicity and possibly financial rewards. Welcome to the pussification of the Western world. Being a professional victim is becoming more and more widespread.
If you’re looking for a way to automate your own investment strategy or want to start investing on a small-scale without using a broker or firm, an investment app might be the right platform for you. If you type in “investment apps” in the app store search tool, hundreds of options will pull up, but not all will help you grow your savings to hit a solid return.
Top GWI Takeaway: “An important thing to realize is that there are certain types of financial firms and investment strategies focused on doing some sort of social good. We’ve been learning about ESG investing, which is Environmental, Social and Governance Investing [which refers to three central factors in measuring the sustainability and ethical impact of in investment in a business]. That is something directly designed to make things better, but through the use of financial tools. We also found out about foundations and investing for not-for-profits. All of that combined has shown me that there is still a way to be in finance and pursue some form of public service. I was very interested in law and politics from the social-good perspective, and I’m seeing those worlds align with finance.” 

From what I've seen as a dude, the women who are most successful are the ones who are competent, confident, and drama-free. The biggest mistake I've seen is women trying to imitate men. It's a mistake, because what a lot of people think "men" act like is usually not how the most successful men act. You've almost certainly got a massively better ability to read people than your male peers, better soft persuasion skills, and you look better. Be pleasant, be professional, and most of the younger guys wont' care. Can't speak for the older ones.
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As an alternative, open a savings account with a high annual percentage yield (APY), which means you’ll earn interest based on how much you deposit into your savings account. According to Bankrate.com, a good APY is between 3 and 5 percent. Make sure when that your direct deposit hits, you’re automating your payments into your savings account that way you won’t forget. However, make sure it is not easily accessible to make withdrawals from your savings. If you feel you don’t have the self-control to not withdraw from your savings, here’s a few reasons why you should keep your checking and savings account at different banks, according to LearnVest.
To keep from acting impulsively, Kaplan suggests writing a script that outlines how you will react to a plunge or a rapidly rising market. Following that plan—-be it reading from an investment policy statement that you’ve prepared for yourself or simply calling your adviser—-should help you in both booms and busts, tempering the inclination to invest the rent money in stocks during run-ups and to bail out of the market with money you might not need for 30 years.
MS. SMITH: More than 200 million women worldwide are running businesses. These are amazing women, and yet there are obstacles that keep these amazing women from reaching their full potential, and that includes lack of access to capital. But the women on this panel are doing something about it, and we're going to talk to them about what they're doing and how they're overcoming those obstacles, and we're going to learn something about it as we go. I want to introduce Josefina Urzaiz, who is the co-founder of Hammock Boutique, and Fundación Cielo in Mexico. Next to her is Nigest Haile, who is the Founder and Executive Director of the Center for Accelerated Women's Economic Empowerment in Ethiopia. And next to her is Jill Calabrese Bain, and Jill is with Bank of America. She is the Managing Director and Head of Sales for Bank of America's Merchant Services. So, I'm going to begin with Nigest. So, you are the founder of Enat Bank, which focuses on women. Why was it necessary to start a bank for women in Ethiopia?
In fact, looking at actual data is one of the best ways to counteract the fear of investing. For example, are you afraid to invest in stocks because you remember the painful declines of the financial crisis? Well, in spite of the 36.55 percent plunge in the S&P 500 stock market index in 2008, this index gained an average of 7.25 percent annually between 2006 and 2015.
Because women are more inclined to do research and more likely to exhibit patience than men, they’re well equipped to take the same disciplined approach to selling as they do to buying and are less prone to unloading their stocks during a market panic. Ketterer suggests establishing triggers that prompt the reevaluation of each holding. A trigger could be a set date (say, at the end of a quarter or the end of a year), or it could be a specific rise or fall in the share price. Ketterer sets a target price for each stock she buys and reevaluates it when the price approaches that level. A falling stock price is not a reason to sell, she says. But it may indicate that your initial analysis was flawed and requires review. “The greater the frequency of review of a company, its industry and the economic environment, the better,” she adds.

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During my internship, my colleagues were very accessible, friendly, and treated me like a full member of the team, which was key when it came to deciding if I wanted to work here. From the first project I was involved in, my team listened to my opinion and copied me into emails to clients. I felt I was trusted and valued from the outset, which I didn't experience when I did internships at banks in France - it's part of the J.P. Morgan culture.

My department is pretty much evenly split, so imbalance between men and women wasn't something I took into account when deciding whether or not to join the bank. Other departments may be slightly weighted one way or the other, but that shouldn't discourage anyone from pursuing a career in investment banking. If anything, it should give women more incentive to join the industry, make it more feminine and challenge the stereotype that investment banking is male-dominated. In my experience at J.P. Morgan, men and women are treated equally. I've never felt that I'm at a disadvantage because I'm a woman.
I come from a completely non-traditional background when I was applying but ended up getting in the industry anyways. After you get in, at the junior level, hard work, have a good attitude/personality, motivation, adaptable and being smart at work (like let other ppl know you did the work..) will get you ahead, not if you are a girl or boy or loud mouth or not.
Okay so maybe you’ve reached as high and as far as you can possibly go in your current job, faced every challenge, conquered every obstacle, and mastered every skill that you could possible acquire. It’s time–you’re ready for a change. It happens, and it’s a perfectly natural and healthy part of any career path. In fact, job changes are often great opportunities to climb to the next rung on your career ladder. However you should consider some advance planning before you race out of your current job screaming, “I quit!”
As president of the Atlanta Fed, Bostic leads one of the 12 regional Reserve Banks that, with the Board of Governors, make up the Federal Reserve System, the nation’s central bank. The Atlanta Fed is responsible for the Sixth Federal Reserve District, which encompasses Alabama, Florida, and Georgia and portions of Louisiana, Mississippi, and Tennessee. As its key functions, the Atlanta Fed participates in setting national monetary policy, supervises numerous banking organizations, and provides a variety of payment services to financial institutions and the U.S. government. Bostic has overall responsibility for these functions and represents the Sixth Federal Reserve District at meetings of the Federal Open Market Committee, the policymaking body within the Federal Reserve that sets monetary policy for the nation.
MS. SMITH: More than 200 million women worldwide are running businesses. These are amazing women, and yet there are obstacles that keep these amazing women from reaching their full potential, and that includes lack of access to capital. But the women on this panel are doing something about it, and we're going to talk to them about what they're doing and how they're overcoming those obstacles, and we're going to learn something about it as we go. I want to introduce Josefina Urzaiz, who is the co-founder of Hammock Boutique, and Fundación Cielo in Mexico. Next to her is Nigest Haile, who is the Founder and Executive Director of the Center for Accelerated Women's Economic Empowerment in Ethiopia. And next to her is Jill Calabrese Bain, and Jill is with Bank of America. She is the Managing Director and Head of Sales for Bank of America's Merchant Services. So, I'm going to begin with Nigest. So, you are the founder of Enat Bank, which focuses on women. Why was it necessary to start a bank for women in Ethiopia?
When it comes to managing your money, planning for retirement or paying for a major expense, your needs are unique. That’s why we’ve developed a set of tools and insights tailored to the economic goals and concerns of women. Build your financial savvy and talk to your trusted advisor for customized advice, so you can be ready to make the right decisions for the future you want - and deserve.
MS. SPELLINGS: Yeah, I think often, we dwell on kind of the half empty, "omen are not on tenure track, women are not on corporate boards" and all those sorts of things. And we need to pay attention to it. But I do think there are enormous assets to be in public service and to be a woman in public service. One, we all are motivated by, as Christy Turlington Burns was doing something for someone else. We all know friends who are like man I've been a lawyer all my life and I just, is that all there is? Well, if you're in working to close the achievement gap or improve maternal health you've got that mission, that fire in your belly to leave something behind that's bigger than yourself number one, and number two, and you and I have both enjoyed these experiences, when you're in public life and public service you'll be stunned at the kind of reach you can have as a woman, managing large amounts of money, managing large numbers of people, just an incredible opportunity for careers in public service and public life.
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MS. HAILE: Finance being the major constraint, I don't think it's the only one. Of course, we'd have to design strategies that women have access to finance. But again, women entrepeneurs being community caretakers, there's so many obligations in place with playing multiple roles. I believe that the business environment has to be women- friendly, starting from the policy. So, everything has to be there for them to start and to expand their business for those—particularly the young ones, who also want to start new businesses. So, equally important as finance, I believe there are so many constraints that hamper women to expand in business or start a business. The cultural barriers when it comes to my country and in our continent and elsewhere. The access to markets, the information available, disposable at their facilities close to them because of the particular role they're playing. So, I believe we have lots of things to do. And at the moment I'm here now being part of the Global Ambassadors Program I sincerely would like to thank Bank of America. I don't think many do it like this, partnering with institutions like Vital Voices .

However, although the industry is undergoing change, some of the misconceptions observed by the group when they joined are still around today. MUFG's Vanessa, responding to a university student who said a male investment banker told her ‘you need to be confident, assertive and masculine’ to do well in investment banking, said: ‘There is a preconception that investment banking is a male industry and you need male-type qualities to succeed.’


Partly because of this dynamic, she said there's often a career premium for women who are young and beautiful. "You get a lot of beautiful young women in banking who find themselves replaced by a new generation as they get older. - I've seen older women being made to hand their accounts to 22 year-olds. They complain, but they were in that position once - they were the 22 year-old who took another woman's clients. Women don't help each other."
And the hot thing. First girls need to judge their "hot level" before they want try to leverage it. I've meet plenty of girls that think they're gorgeous because their friends tell them so. Girls will say other girls are attractive (in a straight way) by their personality, how "cute" they dress, how much weight they've lost, etc. Guys equate "hot'ness" to legs, tits, ass, & attractiveness of facial features (generally speaking). In all sincerity, if you haven't been known for those (the latter) things most of your life or haven't had a ton of the more desirable men in your social circles blowing you up all the time, then you probably won't have that type of power over the guys in your office. If those things do apply, just don't be a stone cold bitch, like the coupon cunt from from above, be nice, and you've got pretty good get out of jail card. IMO.

Through its website, TFS connects students to more than 7 million scholarships representing more than $41 billion in aid. Continual increases in tuition fees and other college expenses are critical issues impacting students and families across the United States – particularly those who can’t afford to finance higher education on their own. According to the College Board’s 2016 Trends in College Planning, the average published tuition and fee price in the private nonprofit four-year sector is about 2.3 times higher than it was in 1986-87, after adjusting for inflation. It is 3.1 times higher in the public four-year sector and 2.4 times higher in the public two-year sector. As a result of these trends, an increasing number of students must rely on scholarships to attend college or graduate school.

MS. TURLINGTON BURNS: Sixty percent of women here give birth at home without a skilled provider by their side. And one in 83 women die in childbirth. That's a staggering number. Every time I hear these statistics I realize how lucky I was when I gave birth to my daughter. After giving birth I started to hemorrhage. Without the skilled care of my midwife and nurses I could have died. I had no idea that women still die in childbirth. Once I knew, I had to do something about it. Just imagine, you're about to give birth and you have no ride to the hospital. So, you have to walk five, 10, even 20 miles to reach care. Then when you finally arrive you find there's no electricity, no doctor, no midwife, no nurse. More than 300 thousand women die in childbirth every year. That's one woman every two minutes, and almost all of them, 98%, are preventable. For these mothers, we can be a light in the darkness.
At this age, women are usually married and might even have children. They have the additional responsibility of caring for a family. Women must remain invested in Mutual Funds and should also hold Life Insurance policies. One Life Insurance policy for each earning member in the family is a must. It is also important to invest for your children’s future. Mutual Fund Systematic Investment Plans (SIP) are a good way to start. You can, of course, choose the Sukanya Samridhi Yojana, if you have a girl child. And you can choose to invest in real estate. However, it will be prudent to buy a home to live in before investing in real estate. Taking a joint Home Loan will give you higher eligibility. Some banks give concessional interest rates to women. Make use of this.
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MS. VERVEER: One of the other things I've been in this learning experience about the region, the area, the state, and I understand the disparities between economic mobility, economic and equality, not peculiar here by any stretch but obviously significantly disparities, and maybe you can explain why. But we deal with that across the country, we deal with it all over the world. And we're here really focusing on entrepreneurship, and Bank of America has been a leader in enabling women to grow their entrepreneurial skills because we know what that can do to grow economies and provide the kind of wind at the back of economies.
I'm an analyst, and female, and find that the majority of women in this industry are complete bchs. Sorry to say but it's true! I've met a few that are exceptions, but it's almost as if they're trying to prove something - something like "I'm tough, I can handle these crazy men, etc." And it just seems so phony. It's ok to be feminine and a woman AND still be great at what you do.

What I think that Cowell meant by the second part – that “getting to the result is harder” – is that the argument she poses is mostly true in theory; studies have indeed shown that diversity of hiring increases welfare, and specific to the asset management industry, portfolio returns. However, we have not seen enough industries and businesses having taken action towards this- which makes it hard to get to the “result”. Moreover, more diversity means more diverse opinions too, which might make it hard to reach decisions. This obstacle is natural, and its difficulty will depend on the temperaments of the people involved as well as the company’s culture.
MS. CALABRESE BAIN: So, I can talk about a few of the ways that Bank of America has made some progress on this front because I think that there's always more that we can do around education. So, you know, we have a partnership with the National Association of Women Business Owners in 60 cities across the U.S. where we partner Bank of America/Merrill Lynch women chapter leaders in these local cities to really bring thought leadership, to bring education, sometimes to bring financing. But it is our way of understanding what is it that makes women business owners tick? So that how can we be more supportive? So, you saw a couple of things earlier on the screen. We've got a partnership with the Tory Burch Foundation Capital Program, which we started in 2014. We've been able to finance over 1,100 women, small business owners, and commit $25 million worth of capital, and we hope to see that program grow. We also work with our Community Development Financial Institutions. It's always a mouthful, but for those who are not familiar they really provide technical assistance and affordable loans across the U.S., and Bank of America is the largest investor of CDFIs. So, we're really thrilled with our participation with 240 lenders across the United States. So, thank you for all of the support and the partnership. Lastly speaking about one more program, through Andrea's support in supplier diversity and development, again this is another program where we can work directly with women and diverse owned businesses, and in 2016 actually invested over $2.6 billion in procurement spending.
This report is not intended to be a client-specific suitability analysis or recommendation; an offer to participate in any investment; or a recommendation to buy, hold, or sell securities. Do not use this report as the sole basis for investment decisions. Do not select an asset class or investment product based on performance alone. Consider all relevant information, including your existing portfolio, investment objectives, risk tolerance, liquidity needs, and investment time horizon.
Another consideration that I see as a barrier to the advancement of women in investment banking is the need to balance the strenuous lifestyle with raising a family. I see some senior women go through this and it just seems so tough, with a lot of sacrifices having to be made to make it work. Certainly a personal decision as to whether these trade-offs are worth it, but I can confidently say that my firm is making a positive effort to retaining women.
Communicate. If you have questions, your friends and family probably do too. Not only is it time for money to stop being a taboo conversation topic, but ensuring you're on the same page with your loved ones about financial goals and responsibilities can be critical. Fidelity has numerous resources to help have these conversations with parents, partners and kids.
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