new terminal - money.net

Hi All,

i used this forum before university decisions and GMAT (went to LBS, than Reuters), now I head sales for www.money.net and would like to reconnect.

Best Paper Money / Trade Simulator Platform

Does anyone have any advice on the best paper money / trading simulator. Our investment team has not yet been funded, so we still trade "pretend" money. We have been using TD Ameritrade's ThinkOrSwim platform, but it often incorrectly updates and certain types of trades (e.g. betting on the Brent/WTI spread widening) cannot be made.

Does anyone know if there is a better platform out there?

Thank you.

Trading Weather and Making it Rain

If you could trade weather and make money, would you do it? Or better yet, even think that it is possible? You could add this as something being bizarre and Ripley may add it to his bizarre collection. Believe it or not, it is possible to trade weather. More specifically, weather is traded as a derivative. Trading weather was first introduced in the 1990’s and became pretty active in trading which is now on the Chicago Mercantile Exchange.

However, how would one be able to trade weather as a derivative? More importantly, how would you even be able to create the foundation or structure on how to trade weather? Interestingly enough, trading weather is a lot easier than what it might seem. They are traded base of the averages of the month or season within a city or region. They are also scaled by a dollar weighted index.

This is how it works:

Don't Be A CF

Mod Note (Andy): WSO readers qualify for a $100 discount to Jared's Daily Dirtnap daily market newsletter...just email [email protected] and mention "WSO Monkey Discount" You can follow Jared on twitter at @dailydirtnap

I used to go to this barbershop back in the day. All the barbers were drag queens. No kidding! It was great. They were also practical jokers. They used to do things like leave remote-controlled fart machines out on the sidewalk and blast people as they walked by.

So after the haircut you would go in the back room to pay, and one day they had their appointment book out, and I looked, and next to some of the names it had the letters “CF.” I asked, “what is CF?”

“Cheap f*ck,” he said.

I got a kick out of that. I was relieved to see that there was no CF next to my name. But that’s only because I tipped more than normal at that place, because it was so awesome. Usually I was a pretty bad tipper. At restaurants, I would tip the minimum necessary, 15%, which is below average by most people’s standards.

Especially for a Wall Street guy.

First Paycheck!

Im currently chasing my dream finance job and being a broke college student I tend to think about that first big paycheck from time to time. It keeps me motivated in some regard.
Im curious to see what you all did with that first paycheck. How did you celebrate finally getting that job you wanted after all that work? What toys did you buy?

Your first real paycheck, how did it feel?

Coming up on 8 years ago in June for me (started out in BB IB).

Life after Investment Banking

Mod Note: Throwback Thursday: this post originally went up 4/25/12

Like a majority of people who are on this website, I used to come on here and write bullshit about a life partly my own, partly fantasy. I'm now going to uncloak the anonymous man and tell you my story.

My name is Stephen Ridley. I graduated from a top tier British University with a First Class Honours Degree in Philosophy, Politics and Economics in 2010 and went straight into IBD at a top tier European Investment Bank, after interning there in 2009. I worked in the top team (on a revenue basis) for 16 months, before quitting in October 2011. I want to tell you about that experience, and about what has happened since then, about how I left the green to chase my dream. This will be blunt and honest. I do not mean to offend, quite the opposite, I hope to inspire! Again, this isn't an attack on those who choose to be bankers, it's just me sharing my experience together with the lessons I've learnt, and hopefully it speaks to a few people. If you look at the picture above you'll see a picture of what I do now. It's a little different from where I was 6 months ago!

Banking is fucking brutal. I knew this after my internship, but I didn't care. I wanted money. I wanted respect. I wanted to be a somebody in the eyes of myself and others. But most of all, I wanted money. Why? Because money is freedom. Money means I can wear what I want, live where I want, go where I want, eat what I want, be who I want. Money would make me happy. Right? Well... not exactly I'm afraid. In fact, money didn't seem to make any of the bankers happy. Not one person in the roughly 200 I got to know in banking were happy. Yet all earned multiples of the national average salary.

Monetary Policy Questions

Some of these questions are probably best suited for any ph.d. economists out there, but I'm struggling a lot with the direction of U.S. monetary policy, and what the implications are for markets. I'm wondering about the interest rate that the Federal Reserve pays on deposits by banks, which currently stands at 25bps. Prior to the financial crisis, there was no such interest paid on reserves (excess or otherwise). Now banks can leave cash or Treasuries (more likely) on deposit at the Fed and receive a free 0.25% just out of the goodness of the Fed's heart. There are about $2.7T in bank reserves at the Fed, translating to $6.7 billion in annual subsidies from the Fed to the banks.

A few questions/observations:

1) What is the purpose of this? To the extent this was put in place in an effort to incentivize banks to carry larger capital buffers, hasn't that already been accomplished (Basel)? Why is it still in effect?

2) Can someone help me understand QE and the net impact on rates?

Too many damn feminine men Today?

I truly believe that many of our country's current social issues can be traced back to the epidemic of men becoming too feminine. Only about 30-40 years ago (and many older users on this website can attest to this ), being a masculine man was honored and respected in this great country. I believe that men are falling behind and this can and will lead to massive problems. This is taking nothing away from women leaders and strong women (who I respect greatly).

Showing masculinity today is almost made to be politically incorrect and that is just wrong. This issue is far reaching and has many implications that most probably don't realize. More and more men are showing up in counseling today than ever before.
Issues like not feeling in control of their households, men not feeling powerful, men not being satisfied where they are in their careers, men feeling too controlled and too emotionally dependent, etc. The list goes on and on.

Men need to man back up. What do you guys think?

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