Super-major Supply & Trading - What to Expect?

Hey guys,

I just accepted a summer offer for an internship role in the supply & trading organization of a super-major oil company here in Houston. The firm is known to take on prop positions as well as other more traditional positions that you would expect of a super-major trading operation. I was wondering if any of you had any insight into what to expect out of the internship and had any tips on how to succeed as best as I possible can. Thanks!

Question on Liquidity in US Power Markets

I understand that West Hub is by far the most liquid hub in the US - does this mean that the majority of speculation is done in PJM?

On the contrary, in MISO where the majority of the footprint is not retail choice and with IN Hub suffering from a lack of liquidity, are there less opportunities for an aspiring trader?

I'd like to open this up to the other markets as well, but these are the only markets I know anything about. Any insights are greatly appreciated.

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.

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?

Power and Gas Trading (Switch from Financial to Physical)

I'm currently working at a small hedge fund that does natural gas options market making - have been in the industry for about 2 years now as an assistant trader and did a little trading here and there (quote stuff electronically and watch the OTC trades).

Which Commodity and what role?

So I've had the unique privilege to gain exposure to multiple commodity trading shops in my college career. I will be graduating with having done an internship as an analyst for a power shop, a scheduler for a gas shop and having had exposure to ags as well.

I have good connections in all the shops I've worked at and some in other shops as well.

My question is multi-part.

First the question is which commodity do you think I should focus on. My goal is to become a trader but obviously No one will give you a book right off the bat, I'll most likely have to follow some sort of structure

As far as what I'm thinking is it
Crude > Power > Gas > Ags > Metals?

And am I correct to assume this will be the general structure I will have to follow?:

The Three Most Powerful Positions in the U.S. Economy

I would like to hear your opinions on which three positions provide the biggest control, influence, or other source of strength wielded over the state of the U.S. economy. You do not have to give specific names if a title is sufficiently described. Feel free to speak your mind on both generalized (President) positions to unheard of (?) titles.

I am not giving any guidelines so that you guys can be creative in your explanations.

I really appreciate it guys....

Risk it in Hongkong or Chinese SOE?

Hi everybody,

Since 2 years ago I have felt very attracted to project finance and IB in general. I took a class in project finance, and read some books, but I don't have an economics/finance background. I am currently a PhD candidate at a top university in China, and recently got a scholarship to go to HK PolyU on exchange for one year. I was planning to use that time to prepare the CFA and network and research about my opportunities to break into project finance, without coming from a finance background(I have a bachelors in architecture, master in construction engineering, and my current PhD is in management science at the school of civil engineering. Have lived in Spain, US, Japan and China).

Power Trading at an Electric Company

There is an electric company at my school doing OCR for some positions. I'm vaguely interested in trading, but I would like to specifically know more about power trading. I know for oil trading positions at the super majors you have to work as a scheduler before you can trade and I was wondering if there is a similar process at power companies.