The research indicates that when we women invest, we women do tend to be more patient, take a longer-term perspective and as a result of it, tend to be better investors than men. But the messages we get are that investing is sort of 'the guys' world.'
Interpretation
Women are often better long-term investors, yet the investment world is perceived as male-dominated.
Sallie Krawcheck's quote highlights the tendency of women investors to approach investing with patience and a long-term outlook, which can lead to better financial outcomes. However, societal perceptions have framed investing as a male-dominated field, discouraging women from participating fully and recognized for their skills in this area.
In practice
This quote can be used in a conference on financial literacy to highlight the strengths of women's investment strategies.
What you hear and what the research shows is that gentlemen negotiate for their first job. Women do not negotiate from their first job and on. And I tell women there is no H.R. fairy godmother. There might be, but you better not count on it.
As an entrepreneur, I've learned how crucial it is to be able to call a spade a spade and avoid falling in love with a particular strategy or product. Instead, you need to let the customer tell you what she needs - and to change her as she changes.
Somehow, there is this feeling that women require remedial financial education, and so everything must be dumbed down. The reality is that we all need a lot more education, but guys just go ahead and invest anyway.
If you aren't committed to diversity of thought, you have no business launching a startup.
In the old world of business, there was often just one seat at the leadership table for women, two at best. That meant that only so many women could advance. But in a world where women recognize the power that they own - and where technology can upend the traditional rules of engagement - one woman winning doesn't mean another loses.
Your career is not going to go the way you planned. It is impossible at the age of 23 to pick the right industry, the right company, and you can visualize what you're going to be doing in your 40s, 50s, and 60s, but chances are that it's going to be something quite different. So remain open to opportunities and change.
But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
Don't try to buy at the bottom and sell at the top. It can't be done except by liars.
When getting help with money, whether it is insurance, real estate or investments you should always look for a person with the heart of a teacher, not the heart of a salesman.
I'll always understand the Schadenfreude aspect to short-selling. I get that no one will always like it. I'm also convinced to the deepest part of my bones that short-selling plays the role of real-time financial watchdog. It's one of the few checks and balances in the market.
Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer.
All the math you need in the stock market you get in the fourth grade.
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