<p>I think for firms it’s just a safer way to play GPA and schools and whatever else they rely their hiring standards on. I mean it’s obvious you’ve “prove” yourself and your capabilities as you say right? But let’s remember, your time frame of proving yourself is only a few years at best. Just say you are making a killing in this market shorting everything and getting rich…but does that make you that much better than everyone else? Just having a good year or two or three doesn’t mean you’re necessarily better than the next guy right? So I think that what these people are saying is that GS and any other company for that better just goes with what has proven to work for their system. Do they miss out on the occasional diamond in the rough which you might be? Of course…but they are also trying to maximize their gains and minimize their losses imo. And fyi, I don’t really know too much about investment banks per se, just what my friends tell me. But looking at it from any company’s point of view, it’s easy to go the safer route and miss out on the occasional diamond isn’t it? And with all the money you’re making, just find some GS guy who will mentor you and open up your own firm anyway haha.</p>