Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.
This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only intended at the moment of their issue as conditions quickly change. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Contact us: support@philstockworld.com
© Copyright - PSW, LLC.
2024
September 11th, 2011 at 5:29 pm
0x0, Thanks for answering, I’ll try to address your points below – the best that I can. I’m not a psychologist either but have a interest in the subject.
""A lot of white-collar criminals are psychopaths," says Bob Hare. "But they flourish because the characteristics that define the disorder are actually valued. When they get caught, what happens? A slap on the wrist, a six-month ban from trading, and don’t give us the $100 million back."
For starters, no evidence is presented to the effect that "the characteristics of the disorder are actually valued."
Check out this article, I’ll post an excerpt shortly: http://www.guardian.co.uk/science/2011/sep/01/psychopath-workplace-jobs-study. Excerpt:
"Part of the problem is that the very things we’re looking for in our leaders, the psychopath can easily mimic.
"Their natural tendency is to be charming. Take that charm and couch it in the right business language and it sounds like charismatic leadership."
Babiak designed a 111-point questionnaire with Professor Bob Hare, of the University of British Columbia in Canada, a renowned expert in psychopathy. Hare believes about 1% of Americans can be described as psychopaths.
The survey suggests psychopaths are actually poor managerial performers but are adept at climbing the corporate ladder because they can cover up their weaknesses by subtly charming superiors and subordinates.
This makes it almost impossible to distinguish between a genuinely talented team leader and a psychopath, Babiak said. Hare told Horizon: "The higher the psychopathy, the better they looked – lots of charisma and they talk a good line.
"But if you look at their actual performance and ratings as a team player and productively, it’s dismal. Looked good, performed badly.
"You have to think of psychopaths as having at their disposal a very large repertoire of behaviours. So they can use charm, manipulation, intimidation, whatever is required.
"A psychopath can actually put themselves in your skin, intellectually not emotionally.
"They can tell what you’re thinking, they can look at your body language, they can listen to what you’re saying, but what they don’t really do is feel what you feel.
"What this allows them to do is use words to manipulate and con and to interact with you without the baggage of feeling your pain."
"White collar, non-violent financial crimes have always been treated more leniently than murder or rape. No proof is adduced that someone or some institution is "valuing" the characteristics of psychopaths."
I don’t think that’s what Jesse’s saying, I wouldn’t say that. Violent crimes are treated more severely than property crimes, whether a psychopath is involved or not, because our society deems violent crimes as worse than property crimes, not because we like psychopaths and value their contributions. (Contributions before they get into trouble would be rated higher than after the truth is out.)
But later on we are given to understand that "Psychopaths’ Brains Wired to Seek Rewards No Matter the Consequences."
"It may be that because of these exaggerated dopamine responses, once they focus on the chance to get a reward, psychopaths are unable to alter their attention until they get what they’re after," Buckholtz said. Added Zald, "It’s not just that they don’t appreciate the potential threat, but that the anticipation or motivation for reward overwhelms those concerns."
It makes sense that there would be differences in brains of people with vs. without consciences – (is that what a “psychopath” is esssentially?) but the issue is more complicated. I saw a pbs show which was exploring the research on the subject and showed that certain brain structures were shrunken in known psychopaths. Whether the brain differences are caused by nature or nurture, isn’t answered by the research, but I would guess it’s a combination, and sometimes more environment ("sociopaths") and sometimes less environment and more genetics ("psychopaths"), at least according to one set of definitions of psycho vs. sociopath, which I found online. Doing just a quick search on the definitions of the various disorders, it seems even the definitions are not agreed on. As a guess, I doubt dopamine is the key here, but I haven’t done research on the relationship.
Well, which is it?
I think it’s a complex subject, and we’re trying to describe a spectrum of "disorders" that are not the same in people who fall into a broader category of "antisocial" or whatever you want to call it. It isn’t necessarily this or that.
The "psychopaths among us" [not exactly a scholarly tone for serious article, which this isn’t] ] are either flourishing because "their characteristics are actually valued" or are their "brains wired to seek rewards no matter what the consequences"?
I don’t see the need for an either/or here.
Presumably if psychopaths were indifferent to risk once they fixate on a reward then the penal code consequences of embezzlement would not cause them to"flourish."
They may be indifferent to the real risk (it won’t stop them) but also attempt to minimize their chances of getting caught. My understanding, based on my interview with Sam of Crazy Eddie’s, is that white collar criminals who are acting like psychopaths (I’m using this word here as a description of behavior, not a diagnosis), do not think about getting caught. They’re pretty confident they are doing their crimes in well-designed ways in which they are not likely to get caught. Getting caught is not within their range of outcomes. They do not do a cost/benefit analysis as a non-psychopath criminal might. They do what they do because they like what they’re doing and have no thoughts about the morality of it. (Thinking about the "morality" of it may be associated with the part of their brains that are abnormally small.)
I’m still trying to figure this out myself, to understand the biological reasons for psychological disorders — I think it’s one of the most fascinating subjects. I welcome more comments by anyone who may be in the field with more information.