Portrait of Dr. John Coates

Dr. John Coates

Wall Street Trader Turned Neuroscientist

I research the ways in which the human body guides our risk taking. I find that our bodies are smarter and better at taking risk than our conscious reason. That finding explains why humans remain smarter than AI.

About

John Coates, former research fellow in neuroscience and finance at the University of Cambridge, traded derivatives for Goldman Sachs and ran a trading desk for Deutsche Bank. He conducts research on hedge fund trading floors in London and New York. His studies are designed to understand the role of the endocrine, immune, cardiovascular and motor systems on our ability to effectively take risk, to handle stress, and to generate reliable gut feelings. He finds that the bodies of traders get the market right even when their psychology gets it wrong.


Lately, Coates has turned his attention to understanding our body’s role in producing insight, be it scientific, sporting, or financial. Coates concludes that the human ability to produce revolutionary insights gives us an edge over A.I. And it is our body, and our life in the physical world, that enables us to produce these insights. Coates’ research has therefore spread beyond finance and business into sports and the military. This new research is covered in his forthcoming book, System 3. Insight, Why It Needs A Human Body, How It Gives You An Edge Over AI.


Coates’ science papers have been published by Nature, the Royal Society, and the National Academy of Sciences USA. His best-selling book, The Hour Between Dog and Wolf. How Risk-Taking Transforms Us, Body and Mind, was short listed for the Financial Times/Goldman Sachs Business Book of the Year, and the UK Wellcome Trust Science Prize. It was also chosen book of the month by the British Army. The journal, Foreign Policy, named him one of the most influential thinkers of the year. Tom Stoppard’s latest play, about a hedge fund manager who turns to neuroscience, is based on Coates’s research.

Books

The Hour Between Dog and Wolf: How Risk Taking Transforms Us, Body and Mind

The Hour Between Dog and Wolf: How Risk Taking Transforms Us, Body and Mind

A groundbreaking exploration of how the body guides your risk-taking. Shortlisted for the Financial Times/Goldman Sachs Business Book of the Year, and the UK Wellcome Trust Science Prize. Chosen Book of the Month by the British Army.

System 3: Insight, Why It Needs A Human Body, How It Gives You An Edge Over AI.

System 3: Insight, Why It Needs A Human Body, How It Gives You An Edge Over AI.

A revolutionary account of how our ability to move better than robots ensures we remain smarter. Forthcoming!

Press Copy

"Coates is a neuroscientist AND an economist AND an ex-Wall Street trader AND a spectacular writer."

— Robert Sapolsky, Prof of Neuroscience, Stanford

"A fascinating examination of how humans think not just with the brain but also the body during periods of acute stress. It is a must-read"

— Magazine of the British Army

"The Hour Between Dog and Wolf may be the most important poker book I’ve ever read – even though the book ostensibly has nothing to do with poker."

— Nate Silver

"Coates was turning to neuroscience in hopes of finding out what on earth could possibly account for… the Masters of the Universe."

— Tom Wolfe

"I have enjoyed the privilege of exchanges with John Coates whose recent work on hormone-related performance in the financial world the plot anticipates."

— Tom Stoppard, The Hard Problem

"“Brilliant.”"

— David Brooks, The New York Times

"Coates challenges deep-seated assumptions."

— Bloomberg Businessweek

"If anyone is qualified to unify the seemingly disparate subjects of financial markets and neurology, it's John Coates."

— The Daily Beast

"A great book."

— Slate

"Stunning ... compulsory reading"

— Mail on Sunday

"John Coates lays out the biochemistry of the Big Trade."

— Time Magazine

"This brilliant book shows how human biology contributes to... irrational exuberance and pessimism that destabilise the global economy. Coates has a gift for vivid description, as the sights, sounds and (unfortunately) smells of the bank come to life in his prose."

— Clive Cookson. Financial Times

"Coates explains why... we all need to think more about the interaction between our minds, bodies and the markets. One of the most original and thought-provoking works about finance to have emerged in years. "

— Gillian Tett, Financial Times

"[I]t makes intuitive sense that biological responses inform the mood of the markets. This book puts flesh on that idea."

— The Economist

"Vibrant"

— Nature

"Stunning research."

— Forbes

"Compelling"

— New Scientist

Publications

My research bridges neuroscience and finance, investigating how our bodies influence our financial decisions. Below are my key publications and op-ed articles.

Key Publications

Other Science Papers

OP-ED Articles

Contact Dr. John Coates

Send me a message

Contact Information

For press inquiries or speaking engagements.