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Daily Dispatches – Why being a psychopath is good for a career in finance

That is, says the Financial Times, in an article entitled The psychopath’s guide to finance careers, unless you want to be a fund manager.

The FT reports that there appears to be a strong correlation between people who work in finance and those who demonstrate psychopathic traits.

Research by Kevin Dutton, a professor at Oxford university, found that the profession with the most psychopaths was financial services.

Dutton maintains that people with psychopathic traits make great chief executives, and they are quick, decisive thinkers who tend to overachieve.

Investment bankers and traders have definite psychopathic tendencies, which include a single-minded ruthlessness and coolness under pressure, however good fund managers tend to buck this trend.

The data showed that two significant personality traits essential for fund managers who produce consistently high returns were the courage of their convictions and an ability to admit mistakes, “a trait alien to a psychopath”.

Singapore’s OCBC said to have made binding offer for Wing Hang

Overseas-Chinese Banking Corp, Southeast Asia’s second-largest lender, is said to have placed a binding bid for Wing Hang Bank, according to the South China Morning Post.

Bloomberg reports that a bad day in the markets is bad for your health.

A one-day drop in equities of around 1.5% is followed by about a 0.26% increase in hospital admissions on average over the next two days, according to a March 2013 study by Joseph Engelberg and Christopher Parsons, associate professors of finance at the University of California at San Diego.

The impact on psychological conditions such as anxiety or panic attacks is even stronger and more immediate, with admissions jumping twice that much in one day.

Final M&A figures show rebound in Australia in 2013

The market for mergers and acquisitions rebounded in Australia during 2013, according to the Sydney Morning Herald.

Final figures released by Dealogic show the value of Australian M&A came in at AU$101.1 billion last calendar year, up 16% on 2012.

Why employers like attractive staff

New research has revealed that there is a positive link between a company’s share price and the attractiveness of the CEO, reports the Australian Financial Review.

The study by Joseph Halford and Hung-Chia Hsu, Beauty is Wealth: CEO Appearance and Shareholder Value, used a “facial attractiveness index” to value the appearance of 677 chief executives from the S&P 500.

Attractive CEOs are better paid and can improve share prices “on their first day by creating a good first impression,” the report said, adding that such chief executives also “perform better on the negotiating table, and are more likely to land good deals”.

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