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First New York Securities - Kaput?A buddy of mine who works there says the place is going under. Apparently they were trying to move to a hedge fund model by soliciting outside investors, but they weren't able to get the cash infusion they needed. This, on top of 2 years of really bad trading. I did a quick Google search and... 21 3 years 11 months
John AllanFeeling Mad Men-esque and thinking of joining. Anybody have any comments/thoughts? Club/stylist to recommend? 2 6 years 7 months
Market Crash - Shoddy fundamentals -The market rally is built on shoddy fundamentals. -25% of people on unemployment run out of benefits between Oct and Dec. -Investors having growing concerns over short-term automated platforms (which account for a huge amount of volume). -Savings rates are rising. -Mid- to long-term... 35 1 week 4 days
Sexiest Business Reporter? Time to re-start the eternal debate. Last time we discussed this, consensus was for Burnett. I'm partial to Glick. Some of the people on this list are a joke, but there's plenty of good competition. 14 6 years 9 months
Women on Subways with I-PodsDoes anybody have a proven method of starting a conversation with a woman on the subway who's listening to her i-pod? 14 6 years 9 months
Market that Sonya Sotomayor's nomination is...Make me a market Obama's nominee for the Supreme Court getting turned down in the Senate due to an unveiling of a non-professional background incident. 16 6 years 11 months
Heretics of Finance - Andrew LoI anticipate picking it up soon 1 7 years 13 hours
Chess vs. PokerI think poker is most often (and justifiably so) viewed as the choice game for traders for a lot of obvious issues: probability, good amount of subjectivity v. logic, betting, 'Liar's Poker', etc. I wouldn't say there're any addicts on my desk, but people enjoy a good game and talk about it a lot... 41 7 years 11 hours
Liberal Financiers of the World - Unite!After having been the sole voice for the liberal agenda on several political threads, I thought I'd try to start a post where financial types who wax democratic can advocate for a pragmatic economic platform. We are not pure socialists or entirely adverse to capitalism; rather, we acknowledge... 16 7 years 6 months
Goldman Fargo?consensus is that Goldman and Morgan will be merging with commercial banks. Wells Fargo is the only AAA and Buffet loves it (Berkshire Hathaway has a huge stake). Does anyone think his $5bn stake in Goldman foreshadows a merger? And what about MS? They tried with WaMu last week and it... 5 7 years 7 months


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shreve's is the best stuff out there - actually...shreve's is the best stuff out there - actually explains most of the math instead of merely laying out the underlying assumptions. in general, it's not probability that gets most people hung up on options pricing - it's the differential equations. for example, a lot of pricing books (ie - Hull... 192 3 weeks 1 day
for someone coming out of school, the limiting...for someone coming out of school, the limiting factor for the CFA is going to be the work requirement - 4 yrs. You could finish the tests in the 1.5 yr min (Dec lvl 1, lvl 2 the subsequent June, lvl 3 next June), but you won't get the charter until you get 4 yrs on the job. most restructuring... 118 2 months 2 weeks
just to check, for #3: E(1 roll) = 3.5 for the...just to check, for #3: E(1 roll) = 3.5 for the second roll, there is a 1/6 chance each of rolling a 4, 5, and 6, which would result in incremental increases of .5, 1.5, and 2.5, respectively. (1/6)*(.5+1.5+2.5) = .75. So value is .75 + 3.5 = 4.25, correct? 95 1 year 3 months
while you're working for it, I'd put it near the...while you're working for it, I'd put it near the top, phrased something like "Completed CFA Level ###." In your first few years, putting it near the top would probably mean in the 'Education' section, but after a while, experience should come before education. Once you actually get it, it should... 43 1 year 8 months
econ is good for IBD, but I don't think you could...econ is good for IBD, but I don't think you could go directly from ug to P/E without having been a finance or accounting major 153 3 years 8 months
I did finance and econ - if you want to do IBD,...I did finance and econ - if you want to do IBD, econ is a waste of time. But if you're interested in S&T, taking upper level econ courses (ie - econometrics) is useful. That said, if I could do it over again, I would've switched my econ major to math (I minored in math). 153 3 years 8 months
Smartest and best paid amongst the "BB" hedge...Smartest and best paid amongst the "BB" hedge funds. You will work your ass off. 3 3 years 11 months
@Jerome - I'm in Chicago. I trade treasuries and...@Jerome - I'm in Chicago. I trade treasuries and EDs, both futures and options. Name the place/date/time buddy - you can even bring your whole little desk to explain to me how market making is different that spec/prop. 54 3 years 11 months
You'd be better off doing graduate work in...You'd be better off doing graduate work in general math as a hedge to not being able to get into finance - these mathematical finance/financial engineering programs are really just big profit centers for universities. The street is flooded with quant types - I have PhDs routinely applying for... 12 3 years 11 months
@Brady - This is a classic case of "those who...@Brady - This is a classic case of "those who know don't tell". Every prop trading shop has it's own tricks and the only way to figure it out is to work there. But consider that these firms are sitting on a lot of cash - both equity and leverage - and the "pure prop" space is in a power vacuum... 54 3 years 11 months
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