Wall Street would tear most women to shreds. And I say this as a woman who routinely invests in the stock market.
A famous emblem of Wall Street has a new friend.
The iconic bronze bull statue, which was surreptitiously installed in December 1989, was just joined by a new arrival, which was put in place Tuesday morning. But whereas the animal, officially named Charging Bull, is meant to represent the prosperity and optimism of bull markets, his new neighbor—a statue of a defiant girl—was designed to call attention to a glaring injustice on the Street.
The statue, which will be a permanent installation, “is intended to symbolize the growing number of women in leadership positions around the world,” read a statement by State Street Global Advisors (SSGA), which sponsored the statue. “It’s also meant to call attention to the existing male-female disparity in that leadership, particularly at the corporate board level.”
The installation was done a day before International Women’s Day. Not incidentally, Tuesday also marks the first anniversary of the SPDR SSGA Gender Diversity Index ETF SHE, -0.51% an exchange-traded fund operated by SSGA that only holds companies with women in leadership positions. “SHE,” which is the ticker symbol for the fund, is also the name of the statue, which was designed by Kristen Visbal, a Delaware-based sculptor who left a career in sales and hotel marketing in Washington, D.C. for the art world.
“SHE” is on display at Bowling Green Park, mere steps from the New York Stock Exchange, as well as the Museum of American Finance.
SSGA developed the ETF with Calstrs, the California State Teachers’ Retirement System, and it was originally designed to make a political statement as much as beat the overall market. Calstrs was “very committed to trying to create some kind of investment vehicle where people who cared about gender diversity could go,” said Jenn Bender, director of research of global equity beta solutions at State Street Global Advisors in a September interview with MarketWatch.
However, data have shown that companies with a higher degree of women in executive positions boast statistically significant outperformance. Last month, Morgan Stanley advocated that its analysts look at gender diversity when evaluating companies for their investment prospects. On Tuesday, SSGA said it would vote against companies that don’t have women directors, as part of a push to increase female leadership.
I’ve worked on the stock market from my home for the last year. I can say with complete confidence that the majority of women need to stay the hell away from it. It’s not for the faint of heart. It’s not for the easily bruised. And it’s not for those who wish to maintain a sane level of feel good hormones going through their body. The stock market will tear you a new asshole and kick you into next Tuesday leaving you feeling so bad that you will wake up on Wednesday wishing you were dead.
Women have gained more positions in leadership across the west and a few of them should receive a round of applause. But quite frankly, whenever I see a woman in the corporate world with a position of power, I can’t help but think to myself, “how many dead bodies did she leave down the hall? What did she have to give up?” Working in corporate takes a woman who’s willing to leave behind the very thought or idea of having a family or a long lasting relationship. And if she does have kids while working in corporate, you can count on them being checked into one of those lovely day care centers that treats them like shit and has strangers telling them god knows what. It takes a women with balls of steel and one who realizes that she needs to chose between her career or having a family. Given that I know female nature, I will always be on the side of having a family rather than working for corporate masters. No amount of enslavement of women chained to a desk at a cubicle will make them happy. But feminism celebrates these women for having broken a “glass ceilings” even though studies show women have been unhappier each decade since women’s liberation.
Women who work in these positions should have the exact same merit for the job as a man. It should never under any circumstances be decided on because the woman has a vagina. But we live in a world where vagina rules over merit. And a world where women who “break glass ceilings” by acting more like a man and less like a woman is hailed as the most beautiful thing in the world.
Wall Street was fine before this stupid statue was put into place. Because Wall Street is a man’s world.
If Wall Street can’t survive feminism and social justice, it’s a grim future indeed.
I know, I know… facts are sexist.
But if you can’t handle facts, you have no business working in corporate, ladies!
I have high hopes of the bull statue coming to life and ramming the little girl statue straight off the sidewalk and into the street. Anyone know a magic spell to make that happen? This little girl so obviously has a death wish standing in front of a charging bull.