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Originally Posted by GratefulCitizen
Could be unrelated suicides and/or murders.
It's a big planet with plenty of people.
Poisson clumping and modern communication/media technology can make things seem more related than they really are.
Human beings are quick to make associations, but the permutations for random, seemingly related events among over 7 billion living humans is effectively infinite.
We'll see if the pattern continues.
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Quote:
Originally Posted by Roguish Lawyer
You guys must be going through a ton of tin foil.
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Ditto.
The suicide rate in both the US and the UK is about 12 per 10,000. In Switzerland, it is about 11 per 10,000. In Germany, it is about 10 per 10,000. And it is much higher among males (19, 18, 16.5 and 16 in the US, UK, CH and DE respectively). These countries are among the leaders in banking and financial services.
Bank of America, Citigroup, JPMorgan and Wells Fargo each have around 250,000 or more employees. Barclays has about 140,000 (25,000 of them in Barclays Investment Bank). Deutsche Bank has almost 100,000. UBS has over 60,000. Morgan Stanley has about 55,000. BNY Mellon has about 48,000. Credit Suisse has about 47,000. Goldman Sachs has about 32,000.
The financial services sector in the US alone employs approximately 9.85 million people, of whom 4.07 million are classified as in "Management, business, and financial operations occupations".
Obviously, not all of these are high-flying investment bankers, but there are somewhere around 100,000-200,000 of those, with a high turnover every year, and they are predominantly male. Also, whites have higher suicide rates than non-whites, and investment bankers are also predominantly white. Suicide rates are also higher among alcoholics, and bankers drink like fish. Suicide rates are also much higher among people at the late stages or end of their careers or useful lives (the highest rate is among 45-64 year olds), and for an investment banker, 37 is actually not young. Investment banking is high-stress and has a high turnover, which is why the really successful ones make what seems like outrageous amounts of money. And pretty much every major investment bank has announced more cutting of employees, even as economies in many of their markets improve.
Many of my clients were investment bankers, though primarily on the deal-making rather than trading side of the business, and as high-stress and depressing as my job was, I did not particularly envy them. And we had a high turnover too. Of my starting class at my firm of 30, 10 were gone within a year, and by the fifth year only 4 were left. By the seventh year, one was left, and it wasn't me.