Wall Street’s Best-Kept Secret Is a 72-Year-Old Russian Chess Expert


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In contrast with chess’s deliberative reputation, Alburt says the game helps traders think on their feet. “Strong chess players are good at making quick, usually correct decisions,” he says. “Traders are basically doing the same things as chess ­grandmasters: You have to make quick decisions in by definition uncertain circumstances.” Other chess attributes that help those high up on the ladder, he says, are its emphasis on logic and “making people responsible for their decisions.” Or as Icahn puts it: “If he’s a good chess player, he has a good math mind. So if he’s a good player, he’s not an idiot.” Hirsch of Seneca Capital agrees. “There’s a great satisfaction in ­envisioning how something is going to play out and be right,” he says. While playing chess, Hirsch adds, he credits Alburt “with any good moves I make.” The blunders, he notes, “are all mine.”

The complete article

James Tarmy — Bloomberg

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