Hormones and Risk Intolerance

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I just read a brief article in Science News titled Rise in stress hormone linked to less risky financial decisions. I have all the respect in the world for properly done science, but it is quite obvious that increased stress would make an investor less likely to gamble away their money. Let's face it, day trading, derivatives and the like are just legalized gambling where places like E-Trade win because they charge a fixed fee per trade. I have seen out of control, stressed out craps players at Bally's in Las Vegas who keep betting more and more, but I have to believe that is the exception rather than the rule.

According to short article written by Laura Sanders, chronically high levels of the stress hormone cortisol may make people play it safe financially. She melodramatically claims that this has real economic implications. Please forgive  me, but isn't this a big DUHHH. Say it ain't so Big Daddy Duhh!!

A study led by John Coates where some subjects were given a placebo and some subjects were given cortisol revealed that 80% of the subjects who received cortisol chose safer bets. Not sure if the cortisol was injected or ingested.

OK, well I am still more than mildly surprised that Sanders' body and brain article was worth publishing. I am sorry Laura if I am missing something. It must be all that stress.....

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