PT - JOURNAL ARTICLE AU - Jeff Brown AU - Doug Crocker AU - Vidis Vaiciunas TI - Corporate Culture's Role in the Trading Process AID - 10.3905/jot.2009.4.2.058 DP - 2009 Mar 31 TA - The Journal of Trading PG - 58--62 VI - 4 IP - 2 4099 - https://pm-research.com/content/4/2/58.short 4100 - https://pm-research.com/content/4/2/58.full AB - Less than 20 years ago, even investment managers who utilized sophisticated and disciplined approaches to stock-picking relied on nothing more than a rotary dial phone when it came to executing their portfolio strategy. Over the past several years, practitioners have made tremendous effort to upgrade every aspect of their investment process. Given trading's antiquated base, it was quite right that a large portion of time and money was focused on the trading process. Today, in order to meet client needs and stay competitive, it is imperative that investment managers continue to rigorously pursue world-class standards for their trading processes through the usage of “hard” technologies and processes such as transaction cost analysis, algorithmic trading, and electronic market access.The authors’ thesis, however, is that maximizing the return on investment in trading technology and process requires that a company invest similar amounts in its “soft” aspect—its culture. This article complements the numerous articles in this journal that aptly describe such essential best practices for trading technologies and processes. It focuses solely on the soft or cultural aspects of the trading process.TOPICS: Statistical methods, risk management, portfolio theory