Muriel Siebert: the woman who broke stereotypes about the trade

In today's age of equality the assumption that financial markets are created for men only long ago dispelled as a huge number of women long ago proved itself in the trade, which in some cases has been more successful than most men.


But just 10 years ago, gender inequality manifested itself radically against the female sex, to the point that a woman is not considered as a full trader. For many women, this had a significant psychological pressure and they abandon their dream of being financially independent. But there were those who, contrary to all the canons continued to achieve its goals, one of these women will be discussed in the article.


Muriel Siebert was born in a poor Jewish family on September 12, 1928 in Ohio in Cleveland. While father worked, mother stayed home and raising two children.


Early Muriel Siebert began to show a talent for mathematics. She could easily solve any equations and possess accounting skills, so much so that taking only one sheet of paper with a set of strange numbers she could understand which of the fields of activity belong to calculations.


Parents considered daughters a great potential, so his father sent Muriel to study at Western Reserve University, where she graduated from the three courses. In 1952 the main breadwinner of the family died, so Muriel Siebert had to pick up the documents and start to provide yourself, on tuition money is not enough.


After his father's death, the family left the savings in the amount of $ 500. At that time the Newspapers advertised the information that stock traders from wall Street achieve huge profits. After reading the newspaper, Muriel took the money and went to conquer the vastness of the stock exchange of new York.


During job search to Muriel was skeptical and the only bids received were associated with the duties of Secretary or accountant, but not with stock trading. After a while Siebert gained experience in financial transactions and got a job as a trader. In those years, depending on the trading results women were paid substantially less than men. The wage gap stimulated Muriel to leave another company and create your own - Muriel Siebert & Co.


In order to get a place on the stock exchange and start trading she presented the amount of 450 thousand dollars. Get the money was through the Bank, but the loan Siebert refused. Then came to the aid of friends who helped Muriel to take the loans on themselves.


After opening the business grew slowly, as none of the traders did not trust a young company. However, when the US authorities at the legislative level is cancelled clear rates for exchange transactions, many businesses began to sharply increase the fee. At this moment came the hour of Muriel Siebert & Co, which rates fell sharply. Such policy of the company led to the fact that investors have in place, and through the hands of Muriel Siebert passed billions of dollars.


Muriel Siebert died of cancer in 2013, aged 84 years. In her honor was named hall in new York stock exchange. This honor is not awarded any trader in history.

21 February, 2020

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