Working in finance has had its perks – and one of them was receiving good advice that no one ever follows: “Do not to become full of yourself after enjoying some success.” To drive this piece of advice home, more experienced folks would often ask someone who was being overconfident, “How much is your chair worth?”
Let me elaborate.
Say, you’re a trader on Wall Street. You suspect the stock market is about to fall and you call your clients to tell them to sell their position. You also short the market from your own trading book. The stock exchange tanks and you make a hefty sum for the institution you work for, your clients, and probably even yourself when bonus time comes around. At this point in the story, you start believing you did great and deserve all the credit.