Career Passion
“ I don ’ t believe there is anyone who works harder than I do . It takes all of my time to attend to my business . I get up at 8 o ’ clock in the morning and I am at work until late in the evening .”
— Hetty Green
Hetty Green understood an immutable truth that few investors appreciate even to this day . The truth is that the only way to outmaneuver ruthless markets is to know more than almost every other market participant . Establishing and maintaining such an edge requires an impeccable work ethic , and adopting such a work ethic is far easier when you feel a genuine passion for your work . This is what made Hetty ’ s “ love of money ” critical to her exceptional achievements . What people often mistook for selfishness was really a manifestation of passion .
Hetty ’ s passion for finance emerged at an early age . She opened her first bank account when she was eight years old and shadowed her father on the New Bedford docks soon thereafter . As a young adult , she attended galas hosted by New York ’ s high society , but she opted to eavesdrop on men who were discussing the latest events on Wall Street rather than partake in the festivities . By the time Hetty began investing her own money in earnest , she already had a well-entrenched habit of working harder and smarter than her peers .
Hetty ’ s passion for investing compelled her to ask questions that few investors contemplated . The answers enabled her to avoid countless disasters . For example , while residing in London in the early 1870s , an investment scandal involving fraudulent South American securities ruined many investors . The House of Commons responded by launching a committee to strengthen investor protections , but Hetty ’ s natural skepticism provided her with all the protection she needed . She never touched the worthless securities .
Hetty ’ s passion also inspired her to employ unconventional tactics to evaluate investments . She was one of the original “ road warriors ” of finance , frequently
A simple roll top desk at the Chemical National Bank served as Hetty Green ’ s office .
crisscrossing the nation to evaluate the operations of railroads before committing any capital . Along the way , she stopped to evaluate her many real estate holdings scattered in cities throughout the country .
Later in life , Hetty established a routine on Wall Street . She hustled into the city every morning and seated herself at a modest roll top desk at the Chemical National Bank . Throughout the day , she met with business executives and peppered them with questions about the performance of their companies and general economic conditions . She supplemented her knowledge by reading every newspaper , journal and financial report she could find . Only after thoroughly analyzing a company ’ s finances , strategic positioning and character of the management would she consider an investment .
Hetty Green ’ s passion for her career enabled her to blaze a path that few investors have emulated . Her achievements were especially impressive because the standards at the time forced her to rely almost entirely on self-education . Men and women who wish to follow in her footsteps , however , will have an easier path . Fifteen schools received shares of Hetty Green ’ s fortune . Aspiring financial professionals can now pursue a formal education in schools such as Yale , MIT ,
12 FINANCIAL HISTORY | Winter 2025 | www . MoAF . org