One Lehman Brothers Lesson: Lifestyle Portfolio Management

Likewise, Lehman bet the whole wad on risky loans and had to take the consequences. The company reflects some of the employees. On NPR yesterday, someone said in the free market you have the right to make money but you also have the right lose it too. It seems ironic to think that out of this bankruptcy (and more to come), the market, filled with those who survived, will emerge better than ever.

Michelle, I agree with you about the family. What kind of wife would leave a man once he loses his lucrative job? The kind who has nothing left to value in the relationship except the money or prestige. Once that's gone ...

While the point made regarding work-life balance is important, relating it exclusively to Wall St employees is asinine. In any field where it's highly competitive or potentially lucrative, we will find those living with imbalances. I don't think the senior management of GM or Ford is sleeping well. Does anyone believe that those working on oncologic remedies at biotechs are working 9-to-5 and have time for movies and dinner with friends? Silicon Valley is renown for entrepreneurs' being sleep-deprived. What have the US come to? Business magazines are praising balanced-lives without balancing the views on balanced-lives.

I'm sure Dr. Cass views his work as important. While it's useful for society, his work is just one perspective and necessarily the correct one. Ask Dr. Cass: How many marriages / families have been sacrificed for the sake of developing the internet or affording his services? Plenty. He should be so lucky to have society have people who are "imbalanced".

I bet the worker who was buying the new apartment was getting a sub-prime mortgage just like the ones that took down the company he once worked for.

Thomas, I'm sorry to say but a lot of those guys knew who they were getting married to, but it doesn't matter to them when they have money. Forgetting that situation such as what happened with Lehman can happen, they count on their money to keep those "kind of wife" (wives). Just as it is mentioned in the article a lot of "Finance types often over invest in their work, their money, their careers. And under invest in relationships, friends...etc" and this is the result that they have to face. Needless to say, I complete agree with you that "the company reflects some the employees."

I still want to think about the positive side of things in this case. Lehman will serve as a pool of highly qualified and experienced employees ready for the picking as the whole tree goes down. Once again, the lesson learned in Enron is coming up: pragmatism.

To quote: "What kind of wife would leave a man once he loses his lucrative job?" I think this question is based on the assumption that the husband is responsible enough to perform his duties to his wife like: spending quality time with his family, sharing with the daily household chores and financially providing for the needs of the family.

If the answer to this assumption is an affirmative then we (as men/husbands) have all the right to feel betrayed. But if the answer is a "so-so" or worse a "no" then we have to accept the fact that we failed.

Although it is true that some women and men would choose fame (aka wealth) over the nowadays evasive lifetime commitment of companionship, understanding and loyalty I believe that failing to looking inwardly (introspection and making adjustments of course) throughout the course of the relationship is the reason why most marriages fail be it with wealthiest people and the poorest. There is no difference.