NSU Horizons Winter 2008 - 2009

37 horizons HORIZONS : What were the results? I did my study using 26 stockbrokers (ages 22 to 32) from seven of the largest firms on Wall Street. My sample did not include women, so the participants just had to be males within the age range making money. To get them to participate, we met after hours in local public places so that their work environment would not affect their responses. My results indicated that 23 percent of them showed clinical levels of major depression and 0 percent of them had ever sought help. 38 percent of my sample showed sub- clinical levels of depression—not impairing so much that they needed immediate help. My study also found recreational use of drugs and a lack of healthy coping skills. Ironically, those who showed the greatest signs of major depression were also very successful financially. However, in a follow up eight months later, 25 percent of those making the most money at the time of the study were no longer in their jobs. HORIZONS : You’ve turned your dissertation into a productive practice. How difficult was that? After receiving my doctorate, I went into private practice in New York. I found that the brokerage firms were not so willing to have someone come in and begin to analyze their brokers, so I decided to call myself an executive coach as opposed to a therapist. I began to test the market. I did my first patient for free; I don’t take insurance. My clientele has been built by word of mouth, by market- ing myself, utilizing the Internet, and appearing in three industry- related publications. More important, this year, I published my first two books through Wiley, which enabled me to further target my audience. I bring my practice to them. I speak a lot about the complicated lives of those on Wall Street, giving examples of what burnout, stress, depression, and anxiety look like. I get a lot of referrals from wives. They begin to see the changes in their husbands, and they see the husbands becoming more involved in things that are not family-oriented and/or destructive, like drug use and alcohol abuse. I wanted to remove the stigma of seeing a therapist on Wall Street. I also use terms like “Lifestyle Portfolio Management” to help them diversify their lives and maintain balance between family, friends, recreation, and work. HORIZONS : Is it necessary to understand or have a background in financial markets in order to understand your clients’ issues? No it’s not necessary, although I speak in terminology that they understand. In my practice, I use the phrase “think bullish thoughts, not bearish thoughts” to help my clients. I also incorporate a great deal of sports metaphors, as most of my clients are avid sports com- petitors in their free time. Bullish thoughts are rational and positive, whereas bearish thoughts are irrational predictions, expectations, and beliefs about ourselves, others, and our future. One can positively impact his emotions and consequently, his behaviors, when he can take control over his thought processes and keep them bullish. HORIZONS : How does market performance affect your practice? Is there a significant fluctuation in the number of clients you see based on market performance? Yes, there are times when the number of clients fluctuates. When the market is good, I see fewer clients, as they tend to feel as if they don’t need any help. When the market begins to drop, they fall back into their old, self-destructive patterns and would rather spend money on frivolous items rather than therapy or coach- ing. Only in the middle are they really open to change and to work on themselves. At this point, they realize that they have not yet developed the necessary coping skills. The more time I am able to spend with my clients, the greater their sense of comfort with me. Then, I am better able to assist them with developing strategies for dealing with the unique challenges as- sociated with their profession. My goal for most clients is to improve their job performance, quality of life, effectiveness, and productivity. HORIZONS : What was one of the most surprising things you’ve heard? One of my clients, a hedge fund trader, came into my office. He said he lost $1 million. Stunned, I asked if I should call an ambulance. As we talked, I realized that the $1 million was out of a book of $100 million. As I became more knowledgeable about my clients and what they do, I gained a new perspective on money. Now, these types of numbers don’t affect me as much. HORIZONS : What was your experience like at NSU? I had a great four years at NSU. I not only worked hard, I got a chance to hang out at the beach and study poolside. I studied with Jose Canseco on Fort Lauderdale beach for a psycho- pharmacology exam. Where else can things like that happen to you in graduate school? I had great professors. John Lewis, Ph.D., and Eugene Shapiro, Ph.D.,* were fantastic. They were instrumental in guiding me through the program and the dissertation process. [Editor’s note: A. Eugene (Gene) Shapiro, Ph.D., is professor emer- itus and a retired senior associate dean, at CPS.] HORIZONS : What advice would you give to NSU students? Learn to balance work and fun. Think out of the box, get into a field that you enjoy, create ways to market yourself—this is key— and stay ahead of the game. n