Broker Suicides

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Jan 31, 2009 10:04 am

I have heard about 3 Brokers taking their own lives in the last month.  One at Merrill Lynch Fifth Avenue, One at Merrill Lynch Short Hills, and now another broker from Smith Barney who apparebtly walked in front of a truck on the highway in upstate NY.

 
 
Does anyone know if this is true?
Jan 31, 2009 10:09 am

I don't know if it's true, but I have a few that I'd like to nominate. 

Jan 31, 2009 10:16 am

Thats tragic. A lot of stress on people in this biz right now. Loss of money, marriages, careers. God help us. 

Jan 31, 2009 10:16 am

That one idiot on the WS retention thread claiming and pillow biting that there will be no retention. I nominate that cheesedick.

Jan 31, 2009 10:25 am

The one at  ML 5th Ave is true

Jan 31, 2009 1:12 pm

My career is on the skids right now but I'm not going to walk in front of a train because of it. think of the stories we can tell our grandkids. We were brokers during the Great Crash of 2008. This is the stuff that makes for interesting history.



Suicide is a permanent solution for a temporary problem.

Jan 31, 2009 1:41 pm

Were there any re-assigns?

Jan 31, 2009 1:44 pm
Sell High:

Were there any re-assigns?




Is that some kind of suicide lingo?

Jan 31, 2009 1:45 pm

yes to the short hills fa.  i only responded because it is a fact that people in our busines  should know. no matter how tough things are, suicide is always the wrong answer.

Jan 31, 2009 1:55 pm
tmoney47:

yes to the short hills fa.  i only responded because it is a fact that people in our busines  should know. no matter how tough things are, suicide is always the wrong answer.



It was the right answer for George Hennard and others like him.

Jan 31, 2009 2:00 pm

Wonder why brokers do it?  guilt of losing people money? fear about their financial situation? but think many guys in this job measure their whole identity or self worth with this profession so guess I can see how it happens..what is the worst thing that could happen?  All your clients leave? or if you cant take the stress anymore just walk into managers office and say I quit, I cant handle it anymore, even if you are on a deal under that situation they will never ask for the money back. 

Jan 31, 2009 2:09 pm
fritz:

Wonder why brokers do it? guilt of losing people money? fear about their financial situation? but think many guys in this job measure their whole identity or self worth with this profession so guess I can see how it happens..what is the worst thing that could happen? All your clients leave? or if you cant take the stress anymore just walk into managers office and say I quit, I cant handle it anymore, even if you are on a deal under that situation they will never ask for the money back.





Why don't you try it and report back to us how it went.

Jan 31, 2009 2:11 pm
Baller:
fritz:

Wonder why brokers do it?  guilt of losing people money? fear about their financial situation? but think many guys in this job measure their whole identity or self worth with this profession so guess I can see how it happens..what is the worst thing that could happen?  All your clients leave? or if you cant take the stress anymore just walk into managers office and say I quit, I cant handle it anymore, even if you are on a deal under that situation they will never ask for the money back. 



Why don't you try it and report back to us how it went.

 
If I felt depressed about it I would walk in and quit..I do not take this that serious.
Jan 31, 2009 3:37 pm

I think if my broker killed himself (which I suppose would be me), I'd be more angry for that than him losing my money. Unless his last name was Madoff maybe...



Real courage lies in honesty and truth and picking yourself up again when you're down. Leaving a spouse, kids, clients in the lurch, a truck driver with nightmares seeing you roll under his truck... how can any of that be a good solution? I have to think these guys were perhaps a bit crooked and that is the guilt that killed.



Losing my clients' money sucks, but I sleep at night repeating the famous words of Nick Murray - "This market is not my fault."

Jan 31, 2009 5:29 pm

This business isn't that great that I'm going to kill myself over it. Sometimes my old profession of construction actually seems preferable. Nice honest work and zero head trips.



What jumped out at me is about half the current conversations on the board are either about people leaving, missing hurdles, or worrying about retention packages. That certainly isn't a good sign.



I miss the old days of complaining about a point or two on the grid.

Jan 31, 2009 5:57 pm

I really believe that anyone who kills themselves and happens to be in our job, didnt do it just because of the job. They were unstable to begin with and maybe the job, the market, losing clients money, was just the catalyst, the straw that broke the camels back.

Jan 31, 2009 11:30 pm
Sportsfreakbob:

I really believe that anyone who kills themselves and happens to be in our job, didnt do it just because of the job. They were unstable to begin with and maybe the job, the market, losing clients money, was just the catalyst, the straw that broke the camels back.




Fascinating.

Feb 1, 2009 8:40 am

Seriously, in that situation you need to get help. 


I'm too simple to be depressed (not to say it couldn't every happen).  However, I understand it. 
 
Years ago I had a girlfriend that had issues - she started acting crazy - she was as normal as could be but one day it was like someone flipped a switch - she started acting nuts.  Eventually she saw someone and got medicine for it - and, like hitting a reset switch, three weeks after she got medicine she was back to normal.  What amazed me was the speed at which she went back from crazy depressed back to normal.  Another guy I know about killed himself over a girl.  A cousin who I never really knew just killed himself over stress in his 20's.  You think "what the hell happened, this is absolutely nuts - what happened" but.. there's a reason.
 
Every day negative thoughts pervade your thinking for whatever reason and that eventually changes brain chemistry.  As an example Marlon Brando's daughter killed herself even though she had her own island and millions to spend.  Your situation good or bad has nothing to do with it.  You can be depressed no matter how much you have or how good things are.  You'll focus on negative things for too long of a time and that eventually causes a drop into a chemical inbalance.  From there it's like trying to positive think your way out of pneumonia - you've got to get medicine, that's all there is to it.
 
When my old girlfriend started taking medicine, she was a mess.  The doctor explained the whole thing to me and, sure enough, three weeks later she was back to normal.
 
So after going through this with the girlfriend years ago I thought I'd throw my two cents in. 
 
Feb 1, 2009 8:47 am

If I was so inclined. I would take a bunch with me, not to mention names. 

Feb 1, 2009 8:52 am
Hank Moody:
Sell High:

Were there any re-assigns?

Is that some kind of suicide lingo?





handing out the dead guys accounts.    he was trying to make a joke...



(i was just wondering if any guys are that bummed in my office.....?)