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November 30, 2026
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What type of product? What type of firm?
equities or equity derivatives middle market bank
vs.
a IDB like ICAP, GFI etc.
You will have more exits as institutional sales, IDB is pretty much one way.
Figured that. I take it that equity derivs is a better option on the Inst. Sales front than equities. No?
Nowadays firms have been combining functions, so if you deal EQ, high likelihood that you will deal EQD as well.
Cool. So far, I've been focusing on trying to get into sales and not become a salestrader. My fear is that salestraders are going the way of the dinosaur due to computers whereas it seems that the salesman is still around. Is this true?
A salestrader is technically a broker, and as stated in my other post there is fierce competition in developed markets. However, in less liquid markets or markets where you are now familiar with (if you're a Nikkei trader based in NYC for example) a salestrader will be essential to your strategy. It will be a tough field to break into, but I wouldn't worry about extinction.
Oh OK. You say not to worry about extinction. But I've heard several say that the Institutional Salesman will go the way of Bud Fox - very hard to make money just like it's tough now to survive as a retail broker vs. during the good days before technology. This isn't true?
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