Did anyone see this story that just came out? Stud first-year out of NYU charged with insider trading. The idiot bought calls on EFI right before their acquisition by Siris Capital. What a fucking moron, only made $100K as well.
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yeah, great risk-reward scenario there. get banned from finance for a lifetime for less than one year's comp.
Also from the article:
Classic NYU "values"where people give each other study materials with incorrect answers to sabotage their grades. Source: My NYU tour guide (!!!), even if only directionally true, a huge red flag and I ran as far and as fast away from that school as possible
https://www.stern.nyu.edu/programs-admissions/undergraduate/stern-advan…
What is it like being the Student Council President, and what do you hope to accomplish?
LOL, and yikes..how long before this student interview profile mysteriously disappears from Stern’s website
HUGE haul for the SEC. Congrats everyone, we got him
Easy now, he was an investment banker, not a trader ;)
isnt s&t paid less base/bonus?
Here's another theory, since we all seem to be okay with armchair psychoanalyzing this guy: With his resume and ambition he believed that he was entitled to something far bigger and better than an analyst role at RBC.* So when the universe didn't deliver him what in his estimation should have been his, he just took it.
*Note: I work with RBC a lot and think it's a great firm populated by very competent and honest bankers.
just like my buddy at the gym would say, 'short term gain for long term pain'.
Billy Tsai the insider trading guy!
Bill Tsai the Inside Guy, Bill! Bill! Bill! Bill!
from a reliable source:
"You know the Fed's listening, n***a what money?" - DJ Khaled
That's the GOAT Lil Wayne*, on a Khaled track ;) DJ Khaled could never come up with a line like that
Money never sleeps, pal. Just made $98,750 on EFI. It's been wired to you. Play with it. You've done good, but you gotta keep doing good. I've showed you how the game works. Now School's out.
Oh shit wire me that money back I need to make bail
On the bright side, for those of you recruiting - there may now be an open analyst position lol
And you know the specific group too!
Dear Mr. RBC TMT MD,
Through my regular market research of your sector I have found that it is very likely you will need additional junior support...
Funny how it's not reported anywhere but he was a corporate banking analyst.
Whenever the title is "Corporate and Investment Banking Analyst" you know it's the former and not the latter.
One of my favorite parts of the story is RBC is in the same building as the SEC