The challenge of our generation, whether it's young lawyers, young investment bankers, is to make capitalism work for people not just around the corner, but for people all around the world.
Kabir SehgalAfter Hurricane Katrina, I wanted to go back to New Orleans to help musicians return to the city. But Andrew Young advised me, "If you want to help people, go work at an investment bank." His contrarian advice opened my eyes to the importance of capital. "Learn how to make some money before you give it away." I learned that you can bring about good in the world especially if you have a paycheck.
Kabir SehgalIn essence, money gives us the calories we need to survive. Over time, we became aware that exchange and cooperation increase our chances for survival. Eventually we create tools to facilitate trade. One of these tools is called money.
Kabir SehgalFor the last several decades, there was a prevailing belief among traditional economists that the markets were rational and self-correcting. Alan Greenspan advocated this view. But the 2008 financial crisis showed that this view is incorrect, and Greenspan eventually admitted as much.
Kabir SehgalAll decisions originate in the brain. So if we can better understand what's happening in the brain when we make investment decisions, maybe one day we'll be able to make more accurate financial forecasts - for a stock or even the entire market.
Kabir SehgalI think the money for the solutions for global poverty is on Wall Street. Wall Street allocates capital. And we need to get capital to the ideas that are successful, whether it's microfinance, whether it's through financial literacy programs, Wall Street can be the engine that makes capital get to the people who need it.
Kabir Sehgal