Are the days of college dropouts working on wall street as traders at hedge funds over
1) I am not contemplating over dropping out.
I am wondering are there any cases of people you knew who dropped out of college and working as traders anymore, like in 1980s
Yes
With increased competition in the industry, credentials matter even more so dropping out is a very bad idea
Yes. If you're a college dropout there's 0 chance you get into any hedge fund with institutional backing unless you've got a major family/personal connection that has money in the fund/is close to the PM (in which case you still have to be competent) or you're some sort of savant/entrepreneur that dropped out to pursue something actually challenging because college is largely a joke. Maybe if it were some small time $100m fund out of Florida that the PM raised from his friends & family you'd have a shot but that's probably never going to result in eventually working your way over to a "real" fund. Credentialism is a bitch.
It was extremely rare in the 2000s. But it did happen. People wound up in BB prop desks and running large books at hedge funds a decade later.
It was extremely rare in the 2010s. But it did happen. Someone dropped out and built expertise in a niche alt dataset that became coveted by hedge funds. He’s also famous now.
I’m sure it’s going to be extremely rare this decade. Also certain a few people will pull it off. Likely something entrepreneurial, a niche technology, or a lot of hustle involving the founder of a fund.
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