trading

I know that it takes 3 years to become a trader for BP and that the P&L you take when you are a trader is less than the percentage you get from IB's but does anyone know how the base and bonus works those first 3 years when you aren't actually trading?
Thanks

Does anyone have any head hunters for trading? I've got 2 yrs of experience trading european and US fixed income. mostly futures but some swaps and cash as well. I work for a top market maker in Chicago, but i'd like to move to a bank or hedge fund so I can get more exposure to OTC stuff, muni's, agency's and all that good stuff that locals in Chicago don't really trade. Thanks

Hey,

I just had a quick question regarding how the Volcker rule will affect satellite offices of foreign banks. Take for example Morgan Stanley who is a bank holding company in the US. Would their HK/International offices be restricted from prop trading.

Also, do you think most of the IB's turned bank holding companies will just change their status in the near future to avoid the rule?

Based on my resume what could I do to make myself more competitive for a S&T internship at a BB bank or at a top prop firm. I go to one of the best liberal arts schools in the nation( Top Tier NESCAC). Do you think I have a shot? What could I do to improve my resume before summer internship recruiting.

I currently live in Chicago and want to stay here for the rest of my life. I know that NY is the dominant financial district and most of the ivy/top tier recruits for banking and S&T go there for careers. What other schools are best for staying in Chicago? I'd assume (in this order)
Nu
u of C
Notre Dame
Michigan
GAP
UIUC?
Indiana?

opinions?
thanks

Hey guys,

I got an interview with a top I-bank for an analyst spot on their stock loan sales desk. I know the desk basically enables buy-side clients to short a stock but why is there a whole desk allocated to the sales/trading aspect of securities lending?

I know the job involves
- Portfolio analysis and stress testing
- Production of profitability and usage metrics
- Researching market information, and the impact on expected future values
- Liaising with traders to determine the fair value of a portfolio
- Supporting client negotiations over price and contract terms
- Liaising with internal Legal to understansd restrictions for certain markets

Cheers

If you could choose one...

Which one's worth the money?

I'm currently in the recruiting process for BAML Equity Derivs and Jefferies. I've done a little research but I still have a couple of questions.

I'd like to trade structured assets, and I don't mind whether its equity or debt. I have a decent math background and strong comp sci skills.

The people I have met at both these places were nice enough, but I'd like to hear anything more about the culture.

Also concerned about deal flow, compensation and exit opps. (I know its early to worry about this but it does affect my decision)

Thanks in advance for any help.

Can someone give me some insights about this desk.? I read the description of the desk, but I still don't feel enlightened about what this desk does..

"The Equities EFS Trading group handles the trading and the risk management of all structured products and exotic options on equity. We interact with salespeople from various regions (US, Latam, Europe, and Asia). As a member of the team, you will also communicate views and trade ideas with other trading desks on the equity floor such as the Flow desk and the Cash desk."

So every trading desk, prop shop, and hedge fund, has that one guy who pulls in 5-6 figures in profit in a day, walks around a big swinging PnL, is a total trading baller in general.

What attribute do these rainmakers have that allow them to trade so much better than others? More diligence? Attention to detail? Better strategy?

I feel like trading is a field where all the good traders are approximately on a level playing field as far as returns. So what allows some ubermensch to show up and dominate the market?

Hi,

I have just got two books, Dynamic Hedging by Taleb and Option Volatility & Pricing by Natenberg. Could anyone tell me which book I should read first? I only know some basic knowledge about derivatives and am looking to learn some option trading strategies.

Thanks in advance

With all of the bank regulation that is coming into law both in the US and Europe now and in the next few years, is it becoming more advantageous for graduates to work in emerging markets? I have not been following the issue too closely, but if strict regulation is put in place, could bonus and salary fall enough here to make working in China a more successful and lucrative career path? I am still an undergrad, but it seems that moving to an emerging country with high prospects for growth could be a better career move for recent graduates than staying in the US/UK where competition for jobs and profits is so high.

HFT is finished within a year or two.
Either they will get regulated, or there will be huge consolidation wave resulting in 90%+ of small shops being wiped out.

Background: 1st year analyst in Market Risk Management at a top BB (GS/JPM). Math/Econ degree from a top 25 school.

I've had conversations with the group's MD about my wanting to move into a FO position, and he said that he would be more than happy to put me in touch with a few of his colleagues (and also give me a positive recommendation). However, he requested that I be very specific with regard to what kind of positions I'm looking for.