Gender Means Nothing
Do you think that the market is an environment no woman can survive in? When it comes to the finance industry, are you sure that a lady may not be considered a rival or an example? Are you afraid of entering “male” territory or have used your gender as an excuse for not to get started? In all the cases, we highly recommend you reading this article. FBS is sharing the story of women who have the edge over men in trading and prove – gender is not a variable affecting success.
India’s first female stockbroker – sounds formidable, doesn’t it? This is the title that Deena Mehta got due to the years of hard work that countless stereotypes and robust resistance failed to become an obstacle to.
Born in 1961, Mehta started as a chartered accountant and financial advisor by profession. In a short time, it became clear what her real vocation is. At the age of 25, together with her husband, she set up an equities business – a brokerage firm that was about to enlarge considerably soon after.
Events came thick and fast – barely 40 years old, Mehta became the President of the Bombay Stock Exchange with the highest number of votes than anyone had ever scored before. Considering the fact that it happened on International Women’s Day in 2001, what a symbolic event for all women, huh?
In total, her tenure in the Bombay Stock Exchange lasted for six years. Afterward, she served as a member Cotton Association of India, Board of Central Depository Services (India) Limited, and National Payment Corporation of India. Looking at over 30 years of her experience in brokerage, one may claim she was a person that Asia’s oldest exchange had been waiting for. Mehta has brought many fundamental transformations to Indian equity markets, such as setting up the BOLT system at the Bombay Stock Exchange and Central Depository Service.
Numerously awarded for outstanding contribution in the finance industry, she is now serving as a managing director at Asit C Mehta Investment Intermediates – today, one of the most famous brokerage houses in India. Exceptional Woman Achiever (2014), according to the Federation of Indian Chambers of Commerce and Industry, is too shy to talk about glory and especially about money. Well, it has not hampered her from successfully earning the latest, ending up living in one of the most affluent areas of Southern Mumbai, regularly traveling, and being an example for women all over the world.
This woman left a mark in history – trading strategies set by an American Linda Raschke are the must-knows for anyone interested in Forex. At her early twenties, she started her career as a member of the Pacific Coast and Philadelphia Stock Exchanges. Rapidly gaining experience in multiple markets, she founded her own company LBR; ten years later – the hedge fund ranked 17th out of 4500 for the best 5-year performance in the Barclay Hedge Fund Index.
The variety of trading styles mastered by this lady has been awe-inspiring. However, short-term trading in the S&P 500 futures – this is her specialty. Ten to fifteen minutes - done! While most people are putting thoughts together, she closes one trade after another! What’s her secret? Specific trading techniques elaborated wisely and time-proved. The Turtle Soup, "Anti" trading system, Momentum Pinball and the 80-20 trading strategy, the Holy Grail... You name it. Among all the useful principles suggested by Raschke, the mentioned ones have had the most significant influence on the market.
Not only did she effectively used these techniques, but she has also been sharing these ideas and tips via delivering lectures in 22 countries or writing books. They still serve as desk companions for traders who dream of performing as Raschke used to back in the days - earning half a million dollars in a few weeks!
Work hard – rest harder! She finished her brilliant career by retiring in 2015. However, she has been still trading for her own account every day. At the age of 61 years old?! Yep, fancy that! Well, it could not have been otherwise – this is a part of Raschke’s DNA.
Abby Joseph Cohen
Have you heard about Wall Street? We bet you have. Then, some of you may have heard about Abby Joseph Cohen – one of the greatest traders of our time, a former economist at Federal Reserve Board in Washington, then - advisory director and senior investment strategist at the world-famous Goldman Sachs.
Coupling her passion for mathematics with Bachelor and Master Degrees in Economics, she has been building any complicated mathematical model as if it was a Lego house with step-by-step instructions. Probably, not quickly but understanding clearly what to do next and deriving pleasure from both process and result. As well as profit and inspiration to go further in spite of stereotypes about women in Finance.
Probably the most outstanding move has ever made by Cohen was the foreseeing of the 1990s bull market, which gave her the trust of traders all over the world. Sometimes too excessive - her authority was that strong that people used to take her words at face value. Unfortunately, that did harm Cohen herself. Apart from all the challenges women have faced in this professional area, she has experienced numerous accusations concerning her predictions. Particularly for not foreseeing the other global events such as Bear Market of 2008. Although Cohen was always calling her analytical predictions short-term, she was eventually replaced by David Kostin as a chief forecaster of “The Firm” (the professional nickname of Goldman Sachs).
Well, we all make mistakes, and haters gonna hate. Through thick and thin, Cohen has deserved endless respect and acknowledgment for helping people to earn millions, as well as doing so herself. A Wall Street shark and one of the most successful women in the world - far from everybody can get these titles, huh?