![]() ![]() It's the Y chromosome that has to be kept out of banking.Īnd don't think this is obvious even to those most clearly exemplifying an understanding at some unconscious level: There it is, clear, and obvious, in a country where we really can say genetics is clearly implicated in financial overreaching. One of the distinctive traits about Icelandâs disaster, and Wall Streetâs, is how little women had to do with it." Single men traded less sensibly than married men, and married men traded less sensibly than single women: the less the female presence, the less rational the approach to trading in the markets. What they found, in a nutshell, is that men not only trade more often than women but do so from a false faith in their own financial judgment. Everyone knows everyone else, but when I ask Icelanders for leads, the men always refer me to other men, and the women to other women.īack in 2001, as the Internet boom turned into a bust, M.I.T.âs Quarterly Journal of Economics published an intriguing paper called âBoys Will Be Boys: Gender, Overconfidence, and Common Stock Investment.â The authors, Brad Barber and Terrance Odean, gained access to the trading activity in over 35,000 households, and used it to compare the habits of men and women. ![]() The Independence Party is mostly male the Social Democrats, mostly female. They donât play together but in parallel they overlap even less organically than men and women in other developed countries, which is really saying something. Watching Icelandic men and women together is like watching toddlers. The male exhibits the global male tendency not to talk to the femalesâor, rather, not to include them in the conversationâunless there is some obvious sexual motive. ".Itâs not hard to see why the Independence Party and its prime minister fail to appeal to Icelandic women: they are the guy driving his family around in search of some familiar landmark and refusing, over his wifeâs complaints, to stop and ask directions.įor the fifth time in as many days I note a slight tension at any table where Icelandic men and Icelandic women are both present. ![]() Iceland was the PERFECT demonstration site for this, given how well their genetics are characterized and how exceedingly clear their financial condition is right now.ĭon't let this company go broke. It's obvious what to do - keep the finance industry in the hands of those who are genetically protected against the extremes of financial madness and risk blindness. Given this company's work, it's now possible to see how we need to regulate the financial markets of the world to deny those with a genetic susceptibility to speculation beyond the dreams of avarice. “We believe Amgen’s focus and ability to incorporate our genetic research into their research and development efforts will translate our discoveries into meaningful therapies for patients.” This transaction does not require regulatory approval, and is expected to close before the end of 2012.Waitaminnit - aren't they in a position RIGHT NOW to clearly demonstrate that we understand the genetic basis of financial nitwittery? Med., founder and CEO at deCODE Genetics. “One of the ways to truly realize the full value of human genetics, is to make our research synergistic with drug development efforts where target discovery, validation and prioritization efforts can be accelerated,” said Kari Stefansson, M.D., Dr. Using its unique expertise and access to a well-defined population in Iceland, deCODE Genetics has discovered genetic risk factors for dozens of diseases ranging from cardiovascular disease to cancer. This fits perfectly with our objective to pursue rapid development of relevant molecules that reach the right disease targets while avoiding investments in programs based on less well-validated targets.” Founded in 1996, deCODE Genetics is a global leader in analyzing and understanding the link between the genome and disease susceptibility. “This capability will enhance our efforts to identify and validate human disease targets. “deCODE Genetics has built a world-class capability in the study of the genetics of human disease,” said Robert A. The all-cash transaction values deCODE Genetics at $415 million, subject to customary closing adjustments, and was unanimously approved by the Amgen Board of Directors. Amgen and deCODE Genetics today announced that the companies have entered into a definitive agreement under which Amgen will acquire deCODE Genetics, a global leader in human genetics, headquartered in Reykjavik, Iceland. ![]()
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