Written by Dominique Bancey
Finance and business is known to be a male-dominated field so even if there were women who could do better jobs than some of the men in the top positions, more than likely the men would still be promoted more than the women (unfortunate, right?). However, there are some women who have been able to make a name for themselves in the finance world. These women are known to be outstanding investors. Maybe we, not just women but men too, could all learn a lesson or two from them.
1. Muriel Siebert, Brokerage Founder.
A surprise to many, but Muriel never graduated from college (so how did she succeed?).She received entry-level research positions in finance, until eventually she made partner and went on to build the brokerage firm Muriel Siebert & Co. in 1967. When trying to get her firm registered with the New York Stock Exchange (NYSE), she hit a speedbump. Many of the men denied her and would not sponsor her applicated. But even through going through all this, she held on and her firm became the first woman-owned member of the NYSE. Even now, it is still the only national, woman-owned brokerage on the exchange. She passed away on August 24, 2013, but one important lesson to learn from her, is perseverance.
2. Geraldine Weiss, Investment Advisor.
Believe it or not, she was one of the first women to make it in this industry. She taught herself investing by reading books, eavesdropping on her parents’ conversation and studying Business and Finance in college. However, even with her qualifications, no investment firm would even look at her because this was a man’s world. At the age of 40, she began her own investment newsletter. She began signing her letters as ‘G. Weiss’ to avoid gender discrimination. In the mid-1970s (about 10 years later), she finally revealed who she was. She sent out her newsletter, Investment Quality Trends, for 37 years until she retired in 2003. The newsletter is still in operation and adheres to Weiss’ strategy.
No matter your gender, when in the finance industry, perseverance is an important key to remember. If you’re currently struggling, remind yourself of these women and never give up.
Until next time.