Chess and finance have common skills, it is not difficult to understand: the management strategy, the ability to make decisions under pressure, speed and logical thinking. Perhaps more surprising to know that headhunters chess players tend to prevail when recruiting professional market analysis. Or that big business and finance gurus master the technique and skills of chess and draw parallels what has led to the practice of chess and strategy in finance or business life.
Alan Trefler, chairman of computer engineering Business Pegasystems, listed on the Nasdaq, chess player confession from seven years and even now playing a game with teachers from the likes of Kasparov. His vision of the game and business are converging: “Business processes are very similar to chess,” he says.”First look at the board, absorb the data, recognize patterns, analyze it, you develop a strategy and continuously after you check and develop this strategy as the game”. Other great chess players were John Harsanyi, Nobel laureate in economics in 1994, Barron Hilton, American businessman and co-chairman of the Hilton hotel chain, Kenneth Rogoff, former chief economist of the International Monetary Fund; or the American Ron Henley, a consultant for large Wall Street firms and bookkeeper brisbane.
In Spain recently convened the first contest chess and linking finance and tests the skills of the participants to be measured in both subjects. The inciciativa the portal of financial information and finance, The restless investor, the head of which is María Jesús Soto, director of the office Inversis in Leon and author of “My first book on economics’ and backed the Chess tournament Magistral Ciudad de León.
The qualities or abilities are shared by both materials, as Soto notes, “that in both, the strategy that is being addressed and monitoring is made of it, will be decisive for the success or failure of the outcome.Both must also fully develop qualities such as objectivity, prudence, initiative and patience. ”
In his view, the image we have of different traders, pure activity and adrenaline; and chess, all calm and concentration, is not entirely true: “In practice it is not so, if analyzed from the psychological point of view. The chess is under enormous pressure, with very high levels of stress, even when apparently calm during the game. Sometimes you have to make decisions very precipitated by lack of time or weakness in your position. In fact, in the chess world is well known the aggressiveness of the sport, it becomes a real battle every game, similar to every day in the world of business or financial operations. “