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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... 3 years 1 month
John AllanFeeling Mad Men-esque and thinking of joining. Anybody have any comments/thoughts? Club/stylist to recommend? 5 years 9 months
Market Crash-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... 5 years 10 months
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. 5 years 11 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? 5 years 11 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. 6 years 1 month
Heretics of Finance - Andrew LoI anticipate picking it up soon 6 years 2 months
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... 6 years 2 months
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... 6 years 8 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... 6 years 9 months


Preview Freshness
D.E. ShawSmartest and best paid amongst the "BB" hedge funds. You will work your ass off. 3 years 1 month
RBC vs Chicago prop trading@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. 3 years 1 month
Masters in Mathematical FinanceYou'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... 3 years 1 month
RBC vs Chicago prop trading@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... 3 years 1 month
Designations to get for tradersAs a CFA Level 3 candidate and an experienced BB and prop trader, my view is that CFA does not have as many applications to trading as PM, but it is still useful and it's a good screening mechanism for candidates (shows you're disciplined and work hard and know fundamentals of finance). It won't... 3 years 1 month
RBC vs Chicago prop trading^DRW, SIG and Getco are not pure market-making either "Jerome"; there is not a clear distinction between prop and MM, and you'd have to have been oblivious to the Dodd-Frank/Volcker Rule debate of the past 3.5 years to believe otherwise. Furthermore, market-making can be MORE risky than spec in... 3 years 1 month
Trans Market Group Trader InternWhen you get a take-home set, it's as much a test of your work ethic and commitment as it is a test of your IQ; when you have this kind of opportunity, it's yours to lose. 3 years 1 month
RBC vs Chicago prop tradingAnybody who tells you that prop trading and/or prop trading firms are stable is lying. The whole point of those shops is that they offer the ultimate "eat-what-you-kill" experience. Veteran traders go bust all the time, and sometimes entire shops - even reputable ones. First New York... 3 years 1 month
The decline of Physical Trading?John Arnold closed Centarus because it's impossible to make money trading natural gas when the federal government and the USDA go to extreme lengths to depress that market and keep prices artificially low. The story for natural gas is extremely bullish, but the government is too in bed with the... 3 years 1 month
Will Algo Trading Take Over?As long as liquid markets use a FIFO (first-in-first out) fill allocator, the biggest advantage algo trading offers is execution speed. Certain shops have implemented microwave radio towers that offer ~8 microsecond execution, which is basically the physical limit (think the speed of light). This... 3 years 1 month