Thoughts on Prop shop to B-school?
As has been mentioned on this forum, the prop trading world has been struggling with lower trading volumes and oversaturation. There's very little edge out there.
As a current direction/manual trader at a mid-tier prop shop (read: not a quant/algo), how much merit is there in going to B-school? Is it a better option than trying to "ride out" the low volume environment (which will persist until at least 2014 when the Fed has "promised" to maybe raise rates)?
It's my impression that there's little overlap between what you learn in B-school and the skills you would use as a trader. Is that the case?
If the eventual goal is HF, I would think it's better to show consistent, albeit reduced, profits at a prop shop during this period than to enroll in an MBA program. An MBA would be better for lateraling to sell-side (meh) or switching out of trading altogether to IB/AM/PE.
Given the market environment, there's some concern for the future, and B-school takes a lot of time and effort to prepare for. I'm curious as to the pros and cons.
Thanks
How old are you/how much work experience do you have in prop? I feel like if you're younger, then making the transition would be more welcomed and easier.
And then I guess, how good of a prop trader are you? I assume you're mediocre, because if you were making a killing you wouldn't consider this/you wouldn't be losing your job anytime soon.
Reach out to shorttheworld. He works at a prominent discretionary prop firm and will be at Duke this fall.
What type of hedge fund strategy are you most interested in?
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