We learned last week that former Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein has some extra time on his hands, having failed to transition into a policy-making role in Washington like so many ex-officials at the Wall Street powerhouse have done. How is he spending that time? Trading. Blankfein, 67, said in an interview with Bloomberg News that he makes several trades in his personal account every day, usually stocks and commodities but occasionally currencies.
Anyone who has spent time on an institutional trading desk will immediately recognize this behavior for what it is: Once a trader, always a trader. A pickle can’t turn back into a cucumber. It’s in your DNA and it affects how you see the world. Every situation is or isn’t an opportunity. There is always money to be made somewhere. You can’t stop just because you’re retired.