{"id":4851,"date":"2012-07-13T18:55:11","date_gmt":"2012-07-13T22:55:11","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=4851"},"modified":"2012-07-13T18:55:11","modified_gmt":"2012-07-13T22:55:11","slug":"why-our-elites-stink-nytimes-com","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/07\/13\/why-our-elites-stink-nytimes-com\/","title":{"rendered":"Why Our Elites Stink &#8211; NYTimes.com"},"content":{"rendered":"<p><strong>David Brooks<\/strong>: Today\u2019s elite is more talented and open but lacks a self-conscious leadership code. The language of meritocracy (how to succeed) has eclipsed the language of morality (how to be virtuous). Wall Street firms, for example, now hire on the basis of youth and brains, not experience and character. Most of their problems can be traced to this.<\/p>\n<p>If you read the e-mails from the Libor scandal you get the same sensation you get from reading the e-mails in so many recent scandals: these people are brats; they have no sense that they are guardians for an institution the world depends on; they have no consciousness of their larger social role&#8230;..<\/p>\n<p>via <a href=\"http:\/\/www.nytimes.com\/2012\/07\/13\/opinion\/brooks-why-our-elites-stink.html?_r=1&amp;ref=global\">Why Our Elites Stink &#8211; NYTimes.com<\/a>.<\/p>\n<p>Comment:~ The first thing we need to teach college students is ethics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>David Brooks: Today\u2019s elite is more talented and open but lacks a self-conscious leadership code. The language of meritocracy (how to succeed) has eclipsed the language of morality (how to be virtuous). Wall Street firms, for example, now hire on the basis of youth and brains, not experience and character. Most of their problems can &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/07\/13\/why-our-elites-stink-nytimes-com\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Why Our Elites Stink &#8211; NYTimes.com&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29],"tags":[2283,2368],"class_list":["post-4851","post","type-post","status-publish","format-standard","hentry","category-the-big-picture","tag-meritocracy","tag-morality"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why Our Elites Stink - NYTimes.com - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Our Elites Stink - NYTimes.com - the patient investor\" \/>\n<meta property=\"og:description\" content=\"David Brooks: Today\u2019s elite is more talented and open but lacks a self-conscious leadership code. The language of meritocracy (how to succeed) has eclipsed the language of morality (how to be virtuous). Wall Street firms, for example, now hire on the basis of youth and brains, not experience and character. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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Without clients you will not make money. In fact, you will not exist. Weed out the morally bankrupt people, no matter how much money they\u2026","rel":"","context":"In &quot;Other&quot;","block_context":{"text":"Other","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/other\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13968,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/08\/14\/how-global-elites-forsake-their-countrymen-wsj\/","url_meta":{"origin":4851,"position":1},"title":"How Global Elites Forsake Their Countrymen | WSJ","author":"ColinTwiggs","date":"August 14, 2016","format":false,"excerpt":"Great column by Peggy Noonan in the Wall Street Journal on the growing detachment between political and cultural elites and the problems facing ordinary citizens on the lower rungs of society. There is plenty of evidence of out-of-touch elites, including Brexit and Angela Merkel's unilateral decision to allow 800,000 migrants\u2026","rel":"","context":"In &quot;The Big Picture&quot;","block_context":{"text":"The Big Picture","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/the-big-picture\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6357,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/04\/high-speed-traders-profit-at-expense-of-ordinary-investors-a-study-says-nytimes-com\/","url_meta":{"origin":4851,"position":2},"title":"High-Speed Traders Profit at Expense of Ordinary Investors, a Study Says &#124; NYTimes.com","author":"Colin Twiggs","date":"December 4, 2012","format":false,"excerpt":"NATHANIEL POPPER and CHRISTOPHER LEONARD write: The chief economist at the Commodity Futures Trading Commission, Andrei Kirilenko, reports in a coming study that high-frequency traders make an average profit of as much as $5.05 each time they go up against small traders buying and selling one of the most widely\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1519,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/24\/podcast-paul-volckers-warnings-the-s-e-c-s-privacy-problem-and-some-economic-pitfalls-nytimes-com\/","url_meta":{"origin":4851,"position":3},"title":"Podcast: Paul Volcker&#8217;s Warnings, the S.E.C.&#8217;s Privacy Problem and Some Economic Pitfalls &#8211; NYTimes.com","author":"ColinTwiggs","date":"October 24, 2011","format":false,"excerpt":"Paul Volcker, the former Federal Reserve chairman, warns that we are not out of the woods yet..... Mr. Volcker focuses on two big problems. 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And that kind of thing still happens. In influential research sponsored by the World Bank, the Oxford economist Paul Collier has shown\u2026","rel":"","context":"In &quot;The Big Picture&quot;","block_context":{"text":"The Big Picture","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/the-big-picture\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=4851"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4851\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=4851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=4851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=4851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}