Been on the buyside for ages and trying to help a relative getting into an investment bank. What roles/businesses are left in equities? There is sales, research, what other roles, especially ones where people take on risk?
Thank you
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Trading... there's cash, derivs, dividends, etc.
But that’s all market making and not running books, isn’t it. Fixed income obviously has spreads, not equities.
Well... There are ways to take risk without being a prop trader according to our desks. I'm not a trader though so I don't really understand what they do. Something to do with anticipating flow.
But yeah you're not really going to get around that in equities. If your relative really wants to trade, tell him to go to the buyside.
There are ways to "hold inventory" for future client needs that effectively means going long. But the ability of IBs to freely operate like hedge funds the way GS used to 20 years ago was brought to an end by Dodd-Frank.
Either ER or stuff like GSAM (right? What even is GSAM, do they do equities
Isn’t GSAM a different entity technically? Same with JPMAM and other banks who do similar things?
Avoid equities in Dallas at all costs
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