IBD v S&T Clarify MythsST
I'm trying to decide between IBD and S&T as potential careers. Having read everything online and experienced both, I find both have appeal in very different ways.
1) I was told that a significant number of the best prop traders and distressed/HY guys were former bankers from lev fin, M&A, restructuring, etc who acquired modeling skills. Is this true? Will going to these desks without banking experience put me at a disadvantage?
2) Is it true that in recessions the S&T guys get cut first, and that S&T is less stable?
3) Are traders born or made?
4) I won't know if I'm a good trader until I get my own book, which won't be for a few years, and by then the IBD door will close. How do I best decide?