The Way of the Wall Street Warrior

CHAPTER 25Make a Deal with the Devil: A Very, Very Short Chapter on Ethics

Up to this point, I've been very clear about never doing anything illegal to get ahead. You know why? Because it's just good business sense. It's true that nowadays you could build a pitchbook, do a financial model, and even pitch a client using Zoom from your concrete cell at San Quentin, but so could a gold farmer¹ turned investment banker operating from China's Xinjiang Province. I guarantee that a Chinese gold farmer works harder, costs less, and is probably better at math than you, so keep your competitive advantage and stay out of jail.

Now I know the smartasses among you are thinking the law keeps changing so all I need is to be one step ahead. That's true. In the 1920s, investment banks and commercial banks could operate as one. They called it synergy. In the 1930s, it was deemed illegal and they called it monopolistic. Then, just like your jean shorts, it was cool again in 1999. So you're right, the law does change, but don't be stupid. Even if you know something is not illegal at this very moment, if it feels illicit and dirty, and not in a warm tingly underpants sorta way, then run it by the next test—the ethical one.

What Would Christian Bale Do?

The ethical boundary can be a moving target. What exactly are ethics other than a set of moral rules that are shaped by society and change more than your underwear? Even General Douglas MacArthur proclaimed, “Rules are mostly made to be broken” ...