How does Zaloom describe the behavior or traders in the pits? How does she describe the discipline of their trade? More generally, how does Zaloom do an ethnography of financial markets?
Zaloom describes the trader's behaviors as aggressive, antagonistic, and often irrational. She describes the discipline of their trade as the opposite of what most people would imagine and often uses the term "asocial." Society generally assumes that such a serious business would be more logical and well-mannered, based on careful calculations rather than emotions. However, the opposite is true, competition makes these men aggressive, hyper-masculine, and radical in an attempt to stand out. Individuality is very important on the trade floor. Zaloom does her ethnography in a London dealing room by both observing and interviewing traders on the floor. She describes their physical appearance, mannerisms, and how they interact with other traders and people around them, and ties that into how their mannerisms effect their "performance" on the trade floor to conduct her ethnography.
From the onset of this article, Zaloom describes traders' behavior in the pits as a "den of incivility". There are papers everywhere, loud noise filled with swearing and insults, and traders slamming into each other as they're rushing by-clearly only out for themselves with no regard for much human decency. She notices this excess of individuality and aggression with words like "brash", "crude", and "antagonistic". Zaloom describes the discipline of the traders as highly competitive and individualistic. This individualism and high level of discipline, although appearing animalistic, is what sets the best traders apart and deemed most successful. She conducts her ethnography with qualitative data and observations to better understand the reasons behind this behavior in the pits. She goes into detail on their outward appearance and the communication and interactions between the traders on and off the floor and how these might impact their 'success' in the pit.
Zaloom begins her description of the trading floor by saying that it's a place of nonstop activity. She describes the traders in the pits as boisterous, eccentric, rude, highly competitive and intensely individualistic. Zaloom also goes into detail about common interactions in the pits. These interactions are often aggressive and involve crewd or sexual language generally used express how well or poorly a trader is doing financially. This language is often associated with forms of domination or conquest, and are usually at the expense of someone else. Zaloom explains some of the cultural aspects of financial markets by saying that anything gained by one trader is something lost by another. This creates a space where people are so highly competitive that they can begin to fall into a more animalistic way of thinking and interacting with each other. She also explains that it's this animalistic behavior in the pits that leads many traders to from "alter-egos" that are used when trading help disassociate themselves from the intense masculinity that's seen as necessary to be successful.
In the first section of he chapter, Zaloom describes the traders as 'religious'. That they all tend to observe a set of commandments, which in general is to encourage them to keep their trading and private lives separate, and to minimize what loses they may make. By keeping these commandments close to them, the traders can be able to, in their eyes, make rational decisions of the stock that they have. She also mentions that the traders can know, just by looking at the screen, if someone was having a fight, or perhaps letting their private life otherwise affect their judgement. Later on, she talks about how losing money for a trader tends to be treated as a death. That they money one had is now gone forever. She also mentions that the traders are not as much taught to make money, as they are taught how to take and handle a loss, and not to let a loss affect them too much.
Zaloom makes the trading floor out to be quite chaotic, filled with loud noises and swearing from the traders. She observes some of the general characteristics of these traders to be aggressive, boisterous. Zaloom recognizes the fact that being a trader by profession, must be very individualistic and highly competitive to succeed. It's explained further in the article that when a trader loses money, it greatly impacts their livelihood, thus causing the highly competitive nature of a trader. Although at times the competitiveness can seemingly reach levels of being animalistic, their livelihoods are on the line and one must do what they have to, to succeed. Zaloom conducts her ethnographic research by observing the trade floor and interviewing traders. She takes note on the trader's interactions, communication, appearances, etc. Then uses this qualitative data to further the understanding behind particular behaviors in the pit.
Zaloom describes the traders to be aggressive, competitive, independent, and crude. She compares them to a maverick which is an unbranded range animal or a beast without markings of ownership. She describes them as being subject to fits of rage, unable to control their emotions, and having voices strained from yelling. The discipline of their trade revolves around detaching themselves from the social world and putting on a persona even though the only way they can exist and thrive is by people who buy and sell. The pit is also full of humor, especially aggressive sexual jokes. She conducts her ethnographic studies by closely observing everything from remarks made by the traders to their attire and by directly talking to the traders.
Chapter 4.2 takes the lifestyle and antics of economic men into an anthropological analysis. The main topics from which Zaloom bases her premises stem from the discussion of toxic masculinity and incivility within the quarters of financial trading floors. The character of tradesmen men can be problematic because the individualistic and hyper competitive nature of their environment is an instigating catalyst toward dramatic situations and often times verbal or even physical altercations. This is not a field meant for people who are emotionally sensitive because it would have a negative effect on the way people in this environment work together. The text uses the vernacular term "the pit" because it's where tradesmen are constantly working behind the scenes to essentially take money from their colleagues. However, this sort of behavior isn't natural and it's learned through competition which is pushed beyond the means of what is positive. The motive for all of the madness is money, but it makes things interesting because economic professionals are prime examples to learn from in the scope of how money can potentially shape and derail peoples morals.
Zaloom says: Competetive, fiercely dependent, are qualities taking profits from friends and collegues, are common actions that take place in pits. the dress and language of formal business are inverted by self-representations; which also include professional codes of respect and decorum, and straits of constraint are the norms of civility that show sobriety of economic activity. competetivness and individuality of traders are the qualities future markets revolve around. traders submit to federal codes of behavior that undermine behavior and constraint; but in daily performance, traders work accoriding to radical individuality from the social density of the trading floor. By the trading floor's grotesquity, trader's bodies and base desires are neccessary to compose the market.
Zaloom describes the trader's behaviors as aggressive, antagonistic, and often irrational. She describes the discipline of their trade as the opposite of what most people would imagine and often uses the term "asocial." Society generally assumes that such a serious business would be more logical and well-mannered, based on careful calculations rather than emotions. However, the opposite is true, competition makes these men aggressive, hyper-masculine, and radical in an attempt to stand out. Individuality is very important on the trade floor. Zaloom does her ethnography in a London dealing room by both observing and interviewing traders on the floor. She describes their physical appearance, mannerisms, and how they interact with other traders and people around them, and ties that into how their mannerisms effect their "performance" on the trade floor to conduct her ethnography.
ReplyDeleteFrom the onset of this article, Zaloom describes traders' behavior in the pits as a "den of incivility". There are papers everywhere, loud noise filled with swearing and insults, and traders slamming into each other as they're rushing by-clearly only out for themselves with no regard for much human decency. She notices this excess of individuality and aggression with words like "brash", "crude", and "antagonistic". Zaloom describes the discipline of the traders as highly competitive and individualistic. This individualism and high level of discipline, although appearing animalistic, is what sets the best traders apart and deemed most successful. She conducts her ethnography with qualitative data and observations to better understand the reasons behind this behavior in the pits. She goes into detail on their outward appearance and the communication and interactions between the traders on and off the floor and how these might impact their 'success' in the pit.
ReplyDeleteZaloom begins her description of the trading floor by saying that it's a place of nonstop activity. She describes the traders in the pits as boisterous, eccentric, rude, highly competitive and intensely individualistic. Zaloom also goes into detail about common interactions in the pits. These interactions are often aggressive and involve crewd or sexual language generally used express how well or poorly a trader is doing financially. This language is often associated with forms of domination or conquest, and are usually at the expense of someone else. Zaloom explains some of the cultural aspects of financial markets by saying that anything gained by one trader is something lost by another. This creates a space where people are so highly competitive that they can begin to fall into a more animalistic way of thinking and interacting with each other. She also explains that it's this animalistic behavior in the pits that leads many traders to from "alter-egos" that are used when trading help disassociate themselves from the intense masculinity that's seen as necessary to be successful.
ReplyDeleteIn the first section of he chapter, Zaloom describes the traders as 'religious'. That they all tend to observe a set of commandments, which in general is to encourage them to keep their trading and private lives separate, and to minimize what loses they may make. By keeping these commandments close to them, the traders can be able to, in their eyes, make rational decisions of the stock that they have. She also mentions that the traders can know, just by looking at the screen, if someone was having a fight, or perhaps letting their private life otherwise affect their judgement. Later on, she talks about how losing money for a trader tends to be treated as a death. That they money one had is now gone forever. She also mentions that the traders are not as much taught to make money, as they are taught how to take and handle a loss, and not to let a loss affect them too much.
ReplyDeleteZaloom makes the trading floor out to be quite chaotic, filled with loud noises and swearing from the traders. She observes some of the general characteristics of these traders to be aggressive, boisterous. Zaloom recognizes the fact that being a trader by profession, must be very individualistic and highly competitive to succeed. It's explained further in the article that when a trader loses money, it greatly impacts their livelihood, thus causing the highly competitive nature of a trader. Although at times the competitiveness can seemingly reach levels of being animalistic, their livelihoods are on the line and one must do what they have to, to succeed. Zaloom conducts her ethnographic research by observing the trade floor and interviewing traders. She takes note on the trader's interactions, communication, appearances, etc. Then uses this qualitative data to further the understanding behind particular behaviors in the pit.
ReplyDeleteZaloom describes the traders to be aggressive, competitive, independent, and crude. She compares them to a maverick which is an unbranded range animal or a beast without markings of ownership. She describes them as being subject to fits of rage, unable to control their emotions, and having voices strained from yelling. The discipline of their trade revolves around detaching themselves from the social world and putting on a persona even though the only way they can exist and thrive is by people who buy and sell. The pit is also full of humor, especially aggressive sexual jokes. She conducts her ethnographic studies by closely observing everything from remarks made by the traders to their attire and by directly talking to the traders.
ReplyDeleteChapter 4.2 takes the lifestyle and antics of economic men into an anthropological analysis. The main topics from which Zaloom bases her premises stem from the discussion of toxic masculinity and incivility within the quarters of financial trading floors. The character of tradesmen men can be problematic because the individualistic and hyper competitive nature of their environment is an instigating catalyst toward dramatic situations and often times verbal or even physical altercations. This is not a field meant for people who are emotionally sensitive because it would have a negative effect on the way people in this environment work together. The text uses the vernacular term "the pit" because it's where tradesmen are constantly working behind the scenes to essentially take money from their colleagues. However, this sort of behavior isn't natural and it's learned through competition which is pushed beyond the means of what is positive. The motive for all of the madness is money, but it makes things interesting because economic professionals are prime examples to learn from in the scope of how money can potentially shape and derail peoples morals.
ReplyDeleteZaloom says: Competetive, fiercely dependent, are qualities taking profits from friends and collegues, are common actions that take place in pits. the dress and language of formal business are inverted by self-representations; which also include professional codes of respect and decorum, and straits of constraint are the norms of civility that show sobriety of economic activity. competetivness and individuality of traders are the qualities future markets revolve around. traders submit to federal codes of behavior that undermine behavior and constraint; but in daily performance, traders work accoriding to radical individuality from the social density of the trading floor. By the trading floor's grotesquity, trader's bodies and base desires are neccessary to compose the market.
ReplyDelete