Specifically, you said: "It shows that there is a genetic ability to understand banking." It's true - your statement means that there are people (in your mind, you), who are genetically predisposed to understand banking (persumeably better than the rest of us). That statement, however, is just about as insane as saying that only people with such abilities can understand banking. Again, both are completely absurd statements. It almost doesn't matter which shade of it you meant.
I come from a long line of trademan and miners, and probably ditch diggers from somewhere in the Netherlands. I'm the first in my family to go to college, the first to get a Master's Degree, and the only one to start a Hedge Fund. Could any of my ancestors have accomplished what I accomplished? Given the right opportunity, probably yes. I buy your argument on genetics, to a point, but it's not quite as simple as you propose. There are many other things to consider with the simpleist being, the economic environment. The list gets quite lengthy from there. I was able to start a Hedge Fund because I was fortunate enough to be in a position to get an education and find myself in an economic landscape that allowed me to do what I wanted, whereas, my ancestor were not. The Morgans the same, whereas their ancestors were not. You have the education and live in an economic landscape that enables you to start a bank if you wish, whereas, if you look back far enough, your ancestos were not. There's much more to it than genetics and even if genetics are the key it doesn't guarantee you'll be able to start a successful bank. Perhaps Car Washes is your thing and I don't say that sarcastically. My buddy owns a string of car washes and takes in the mid 6-figures per year. Your choice of business shouldn't be based on what your acestors have accomplished unless you were born with that silver spoon, of course.
No what it means is that some people have genetic traits that enable them to comprehend banking faster than others, such as mathematical skills, or are drawn to banking as a career because they have an interest that is based partly on those genetic traits. Some people will be able to develop the skills needed for banking faster or to a higher level than others and some people will be attracted to banking because they have an interest in using the skills they are pre disposed to be good at. Other people can learn banking but perhaps at a lower speed or have not interest in the career. This can be affected by genetic traits. That is what I was stating.
Oh please... least the people who just read the last postings on this thread gets confused, this whole thing started when you claimed you are in a better position to start a bank (yes, you wanted to open a bank) because you are distantly related to the Morgans. The rest is you trying to wiggle your way in making your absurd claim sound slightly less absurd. You have failed.
Perhaps you could see it another way. The road to success at the time of your ancestor could have been mining but now it is banking. The predisposition in this case could be the financial or social aspect of the job not the job itself. For me banking is an art not a way of making money, although I am not opposed to that. My predisposition to banking was the attraction the way money works and security. I will always be drawn to money not for a salary but the way that money works. The money does not have to be mine but the process and the way that money works is the attraction to me. This is in my opinion a genetic predetermination.
No I think I am genetically predetermined to be more capable of starting a bank. My predetermination is the way that money works it is an art to me. This is something that is in me like a painter or musician. If I am not paid I will still be interested in money. It is the process and the function of money not the remuneration that attracts me. This is my genetic pre disposition. Quite simply it is my art.
Your comments concern me. Why is it you are so eager to label people with failure? Are you unhappy with your own accomplishments?
There is a lot of work being done in this area in the Statistics and Applied Mathematics department at Harvard U, and probably other places. This is just the first article I grabbed off Google. There are many others to read through. You are probably familiar with this work already. There are days when I read articles like this that I feel like I'm wasting my life in the trading profession and what I should be doing is getting that PhD and embarking on a venture such as this but I'm doing what I was supposed to be doing, I suppose. Off topic, you my want to read Autobiography of a Yogi, by Paramahansa Yogananda if your curious about what you're supposed to be doing in the life, as there are many, many others. This book explains the true meaning of life -- a topic that everyone should seek out. http://benchmarks.cancer.gov/cisnet-interview-transcript-cronin/
I meant you failed in trying to switch your argument around so that we don't focus on the absurdity of your initial, actual statements. I don't know whether you have failed in life general. Apologies if I mislead you in thinking that I cared.
Thank you. I think that I am defintely supposed to be a banker or economist though. It is my art, passion or soul. I got a shock when I found out about J P Morgan. I never really new much about him. Then I wrote my work and someone assumed that morganisteconomics was linked, I found out that my family members look like his family and that it is a huge banking dynasty perhaps surpassing the Rothschilds.