Silver BananaTopicReplies
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WSO Hall of Fame: Trading Forum The Wall Street Oasis Trading Hall of Fame provides a comprehensive collection of some of WSO's best discussions on the trading industry. Keep in mind this Hall of Fame does not include Q&A sessions by WSO veterans. To view a full list of Q&A’s & Interviews please navigate here. If you th...
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Adelina Cream Review: Made with 100% Safe and Natural IngredientsYour skin needs a liven up, and Adelina Skin Cream conveys that. Since, this item utilizes against maturing and recuperating fixings. When you're attempting to delete wrinkles, you require something that helps turn around hidden harm. What's more, that is the thing that Adelina Cream improves the si...
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Shell Trading Development Programme Assessment/InterviewI just received an invitation to take the Shell TDP assessment, and I was wondering if any TDP alum can share their insight. Also, I hear the interview is brutal.. so if anyone has anything to say about that I would appreciate it. Thanks...
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Barclays Capital - Review - Sales and Trading* Great people, very friendly. I was set in between 2 directors on my first day and they talked to me as if I was a co-worker, not an intern * Encouraged to speak with MDs frequently * Rotational internship (2 rotations) . * Work was occasionally a bit dull, but that's fair enough for an inter...
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Shell Trading and development Programee -2018This forum is for discussion regarding Shell Trading and development programme -2018. Here you can suggest and drop your view and help others. For London Office:- Application Status - Under Review. Received mail from HR stating that if resume was selected then only got a mail on 9th april from cu...
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Prop trading in SydneyHi guys, Recently got an offer from a relatively small prop trading firm and I am not sure how to negotiate salary, both bonus and the base. What is the general level of salary for a graduate in Sydney? How are bonuses usually paid? (in terms of x% of pay). I know bonuses are tied to your PnL bu...
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Why doesn't everyone invest in index funds? Can someone explain to me why every non finance professional doesn't just invest in low cost index funds? how can you beat the market when there are institutional/hedge fund investors that have more info about companies than you've ever dreamed about? The S&P has beat the majority of hedge funds, ...
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Susquehanna International Group - Interview - Prop TradingThe interviewer asked me if she were to draw 5 cards off the top of a deck, what was the probability that they are in ascending order. I began to answer the question using calculus but this was apparently wrong. They also asked various brainteasers and probability questions. The entire process wa...
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Junior Salesperson in Repo Exit OpsSo, I'm a junior salesperson in repo at a BB. I've been doing the job for about 6 months and am really enjoying it, but my firm hasn't been doing so well - in fact, even my VPs have a gloom and doom attitude about the direction the firm is taking (you can guess which BB I'm talking about...). Anyway...
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Credit Suisse - Review - FICC - Fixed Income Currency and CommoditiesTrading management had high expectations for P&L...and encouraged junior traders with ideas to take risk. Firm was willing to spend money to improve technology. Traders who lost money were quickly cut loose. Very little tolerance for losing money. Drawdown of 5mm was actually only 2mm....so expect...
HSBC - Review - Foreign Exchange FXGood team. Nice working environment. Enjoyed working on various projects, but mostly got coffee/breakfast.. None - fairly relaxed atmosphere but that is better than most other banks. No access to BBG which was needed....
Citigroup - Review - Sales and TradingGlobal connectivity from seat in New York was amazing. Interesting and challenging work. Several great friendships from analyst class.. Lack of diversity. Lack of mentorship. Tough team culture. Some seniors exhibit favoritism. ...
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Why the Professionals’ Trade with Best BrokersThere are many things that you need to consider to master the art of trading. You might have precise knowledge about the trading industry, but if you trade this market with a low-class breakage firm you are not going to make any real progress. Some novice traders say the fees charged by the professi...
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Traders screwed?!?I'm often concerned about my peers in the Sales & Trading career track. While many of them seem to think they will be the next big HF PM and such (and I am certain that a few of them will be) I have a hunch that the vast majority of them will be either unemployed within a couple of years or cut at a...
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Testo Ultra: Perform like brute, Buy yours online at this point! It is protected to state that you are searching for a cutting edge male-enhancing thing that can fuse a seasoning to your sexual conjunction? Would you wish to have more persistence and moreover continuation all through the sex? Or then again might you want to get most of your each sex-related execu...
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Wells Fargo and Company - Interview - Structured ProductsQuestions were specific to prior work experience, especially with regards to product knowledge and various technical skills. So in my case questions were about the structure of various LIBOR products, etc. It will vary based on the candidate I imagine as they clearly made an attempt to specifically ...
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Analyst at a BB going back to study a MSc at a TargetHi. I am currently a 2nd year Analyst at a BB on a Technology graduate scheme. I have decided that I am going back to do an MSc in a finance related subject at a target university in the UK. The reason for going back to studying is: (a) Found that technology really wasn't the right career path fo...
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INTL FCStone - Interview - FICC - Fixed Income Currency and CommoditiesThere wasn't really anything too difficult. They really just wanted to see if you had a baseline understanding of how the company made money. If I had to pinpoint one tough question, it would be one our cmo trader asked me. He wanted to know what my 6 month and 1 year macro outlook was. I had very l...
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Python for TradingI am currently a junior and am interested in S&T. I recently spoke with a few traders and one of the biggest takeaways I had was to focus on learning Python, VBA, and/or R. So far, I have a taken a class in Python and am currently enrolled in a Java class. However, my skills are still very rudimenta...
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UNIGE Master of arts in international trading, Commodity finance & shippingHey all! Current undergrad student at a target in my country with internship experience in commodities trading. I am looking at my options for when I finish my degree, and am considering various different routes especially seeing as graduate programs (and there are very few openings across the indu...
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Recruiter wants personal info to submit to a bank?Recruiter says they need part of my SSN + DoB to submit to a bank. The recruiting firm is a legit player, but I've never heard of anything like this. Has anyone ever experienced this? ...
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SyntheticsI know that a synthetic is used to stimulate the return of an initial investment, but how is the return created? Is it just by using a combination of financial instruments? I do not quite understand how synthetics work. Please help. Thanks....
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Moyer Distressed PDF copyDoes anyone have a PDF copy of Moyer Distressed Debt Analysis? Just started FT in FI S&T and need a copy to reference for research.....
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Has anyone taken the Series 57 yetI am about to start a new job equity trading and originally thought I would need to take the Series 55. As of January 2016, the Series 55 is no longer the Securities Trader Exam, it is now called the Series 57. Have any of you taken the exam and if so, which service did you use for exam prep/pract...
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Trader named 'Morgan Stanley' leaves Morgan StanleyGot a good laugh out of this. I'm sure Mr. Stanley is a WSO monkey, so will the real Morgan Stanley please standup? https://www.bloomberg.com/news/articles/2018-04-17/morgan-stanley-leaves-morgan-stanley-yes-you-read-that-right...
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is day-trading and technical analysis a load of BS?I'd like to get some more experienced opinion on this. I was never taught technical analysis as finance major. The only thing I learned is that all three forms of EMH reject it and my Equity Valuation professor compared it to astrology. I had a couple of friends who day and swing trade and they ...
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IMC Financial Markets - Interview - Prop TradingPhone screening included questions about background, motivation, why trading, why this company, basic questions. The math test was of medium difficulty, but doable with a bit of preparation. Before the test, you go through the model of the questions, be sure you adapt easily. The 1-on-1 interview in...
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Answering why market making?How would market makers answer the question "Why market making?" or "What attracts you to market making in particular?" (and maybe this links to why not principal trading/investing?) CORRECTION: When I mean market maker, I actually mean dealer in an OTC market in a bank....
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If you could be any stock/bond/derivative etc., which would you be and why?If you could be any stock/bond/derivative etc., which would you be and why? I would be the NYSE FANG+ Index (obviously)...
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Goldman Sachs: Securities Division Management & Strategy Function?I am currently looking at an ED/VP position in GS' Securities division (cross-divisional) in their Management & Strategy function. From extensive Googling, this appears to be an internal consultative function/group present in most (all?) GS divisions, but I cannot find a definitive description of t...
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Better Growth over next 5 years: FICC or Equities?If you were starting your career today, and didn't have a major predetermined preference towards FICC or Equities, which would you choose to go into based on revenue growth for each desk? Over the past year, equities revenues have grown at a much faster rate than FICC revenues across the board. W...
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credit electronic trading is developing but not so fast There are some concerns on credit trader being replaced by computer. My conclusion is : not so soon Unlike on the run treasury and TBA, credit is hard to get automated. But I do see some trends to help automation: 1) more electronic platforms: used to just marketaxes but now TradeWeb, LiquidNet ...
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Bank of America Merrill Lynch - Interview - Sales and TradingI was asked brain teaser questions which I had not prepared for so these were quite difficult. Also questions around Black Scholes option pricing model - these were more technical than expected. Initial question was around what the Black scholes model is, when it is used, difference between call and...
Jane Street Capital - Interview - TradingExpected value of a dice roll, Expected value of a dice roll when able to roll three times each time deciding whether or not it was worth it. You are 1/3 across a bridge and a train is coming you have just enough time to run 1/3 backwards as the train just makes it on the bridge and you can run fo...
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Take the offer, or not?I was offered a S&T internship and a bulge bracket bank, and am unsure about whether to take it or not. I would really appreciate any advice, both positive and negative aspects of the job....
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Valuation control groupsThe valuation control groups within investment banks that review the valuation on trades ie. structured products, derivatives or illiquid investments - where does that usually lead you in terms of career path? Many seem to co-mingle with product control with one price testing but I'm trying to get ...
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FX Forwards - HelpHi guys, I was wondering if someone could help me clarify if my maths is correct in calculating hedge costs for foreign bonds. Scenario: I want to invest £100,000 into US 1yr Treasury Bills. I want to hedge my FX risk using a 1yr Forward. GBP/USD spot rate = 1.4131 GBP/USD 1yr FWD = +226 = 1.435...
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Switching from Equity to FICC and vice-versa!Hey all, I was wondering how often can a person switch from Equity to FICC in S&T-and vice-versa? Or are you stuck in one area and you just have to switch to different roles? Any input would be appreciated! Thanks!...
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Calgary Power TradingFor those with experience in power trading within Canada would you mind sharing: 1) What are the top firms to trade power in BC, AB, ON? 2) What are the best hubs to trade at a Canadian firm? What are the major differences in trading the major hubs (that Canadian firms trade)? 3) What do you think ...
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Scotiabank - Review - GeneralistCompensation is relatively high, Work/Life balance is excellent for the industry and opportunities for global mobility are abundant. . Lack of deal flow creates a slower career progression and culture. There aren't many resources devoted to development and training for juniors....
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Anton Kreil - Institute of Trading and Portfolio Management MENTORING PROGRAM. Scam. Rip off. Overpriced and Undervalue.A) Totally disappointed with the overpriced and undervalue 3 month Mentoring Program (USD7001) I am totally disappointed with Anton Kreil’s Institute of Trading and portfolio management’s 3 month Mentoring Program. This is because the mentoring program is overpriced and undervalue. I have reg...
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Should I invest my mother's retirement funds in ETFs or trade derivatives and crypto with it?I'm a believer of the EMH and I don't think you can beat the market through value or growth investing unless you get really lucky or get tips. I watched some crypto/derivatives/penny stock traders on YouTube (see Tim Sykes) and I believe if I can just get a couple of good trades and get 15% return...
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Any help welcomed! Struggling with internal move to Trading SideHey monkeys, Was hoping some people on the S&T side could give me a hand or any advice here because I'm at wits' end trying to figure this out after several years in the industry. I have posted before on various other subjects but created a burner just for this post so I don't out myself. My goal i...
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Nomura Holdings - Interview - EquitiesQuestions are generally acceptable, about yourself, your past internship experience, your market sense towards the whole financial market. The most important thing is to show your understanding of the markets, so I suggest you to form some of your insights before going to interview. Insights can be ...
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Securities Lending Derivatives TradingHello, I was invited to the position: Securities Lending Derivatives Trading at a BB. Is this just classical agency trading? Or what can I expect? Thank you for your help ...
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UBS AG - Interview - Sales and TradingMost questions were not very hard. What is your story? • Pitch a stock • What would your group members say about you? • How have you challenged your peers or your teacher? • Are you a leader or a follower? • Tell me about a time you questioned a sketchy situation or someone’s integrity...
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Sell Side Trading vs Buy Side ExecutionHey all, I'm having a hard time choosing between two offers. Offer A is trading on the sell-side at an up-and-coming foreign bank, where I will be trading different index, dividend, and merger arb strategies. The people on the desk are really smart and I genuinely like them. The firm isn't very pr...
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Why are EM folks 10 miles wide, but 1 inch deep?So I often read EM traders/investors expressing opinions on Brazil, next China, then Mongolia, then Uganda in the span of 10 mins. Why do they act like they know about every EM (even frontier) and that every country is alike to one another? How are they able to trade country A then country B withou...
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Binary Options Trading or FX Trading?Hey guys, I am relatively new to investing and I have been trading in the foreign exchange markets occasionally making money, and occasionally losing money. I am very interested in currency exchange so I find all of my research captivating. I recently stumbled upon binary options and was wondering ...
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Binary Options - Gaining traction Binary options are gaining traction with retail brokers. The product is easy for the average Joe to understand. Has anyone seen these sites? Are they even legal? I imagine a security based on publicly traded stock must be governed by the SEC? http://www.startoptions.com/options/ http://www.anyo...
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The problem with binary options trading!A fair bit of spotlight/scrutiny has been placed on binary options in the past years, with warnings issued from central banks such as the MAS (MAS-Cautions-Investors-on-Risks-in-Trading-Binary-Options-with-Unregulated-Platforms, SEC warns against Binary Options and scams such as the-wolves-of-tel-a...
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Middle Office to Front Office in Sales & TradingHi everyone, new here and looking for some advice on how to break into the front office. To give you my background, I have a bachelors degree in finance from a non target and have been working in middle office at a BB for the past three years (Buffalo, NY office). I am also enrolled in the Universit...
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Akuna Capital LLC - Interview - Trading1.What is risk neutral probability? A. A risk-neutral measure is a probability measure such that each share price is exactly equal to the discounted expectation of the share price under this measure. 2.Why do you want to become a trader? A. Fast paced environment, spoke about my passion for trading ...
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William Blair NYCI've got a final round with William Blair's NYC office specifically for a Sales role and wanted to know more about the firms reputation and culture. Everyone I've spoken with are only familiar with the SF and Chicago offices so I don't know much about their NYC office (their 666 address feels like ...
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TD Securities - Review - Sales and TradingGreat culture and work life balance. No face time or BS come to work for no reason on weekends like IB. There is menial tasks involved as there is in the industry. Mostly pitching food and coffee, click buttons ...
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Best Brokers to Trade Through with Less Than £10kHi, I've been trading with demo accounts and want to make the leap to experiencing trading with real money. Can anyone please recommend brokerages that are the best value for commission fees?...
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Resources for Learning O&G Transportation and StorageI've been studying for the GARP Energy Risk Professional designation to better position myself for a career in energy physical trading. The exam study materials briefly touch on transportation and storage. I feel like this is a very important aspect of physical trade. Are there any good books, we...
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NYC Emerging Markets Trading: how does a native english speaker navigate the business?So EM trading in NYC, I noticed people can be basically divided into 3 groups. For NYC, it's mostly LATAM. 1) People from Brazil/Mexico who grew up there and traded the local currency onshore products, possibly at the Bank's local branch before transferring to NYC. 2) Portuguese/Spanish speaking A...
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Future of someone working as a GS stratI might get an interview for a GS Strat position in Asia. I am wondering what options would remain open for me from there on. I am willing to get an MFin and then move to the US. I am worried that you dont really get to know what role you'll get as a GS strat. Maybe IBD, IMD, or securities division,...
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Physical Trading - Energy Commodity PreferencesSaw some threads on this but most were a few years old. Wanted to revisit which energy commodities are the preferred commodities to trade among the experts here. There seemed to be a strong preference for NGL / LPGs relative to others such as crude or refined products. Do you still feel the same way...
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UBS AG - Review - Prime BrokerageAdvancement, flexibility, pay, environment are all good. Enjoyable enough atmosphere to work in. Decent training. Movement, advancement (rigid), no real challenging work all process related. Comp issues and impact of own input to bottom line...
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Credit Indices (iTraxx) Trading Does anyone know what Credit Indices Trading involves? I was told that the role would be focused on trading the iTraxx index and that initially, I would be helping the desk analysts conduct fundamental research. However, I was wondering what the role is like once you are actually trading. Are you g...
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FREE Trading Bootcamp Opportunity! Hello all, I came across this cool opportunity, and wanted to share amongst my fellow peers. Any current Sophomore or Junior who is interested in a career in trading should definitely consider applying to Flow Traders all expense paid intensive 2 day trading bootcamp in NYC! APPLICATION IS DUE APR...
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Goldman Sachs - Review - Natural ResourcesGreat desk, highly intelligent and sociable team, great contacts in FICC to discuss their trades and thoughts on current events. Mornings naturally are very stressful, in particular my desk and as a junior analyst I get ignored a lot...
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Why did Alphabet's P/E ratio rise so drastically at the beginning of 2018?I am working on a project in which I am analyzing key financial ratios for Alphabet and using them to assess the company's performance. I noticed that the P/E ratio nearly doubled suddenly at the beginning of 2018. Is there some explanation for this? Is it artificially inflated right now? Thanks...
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Is Institutional Equity Sales going to die?I'll be interning at a BB this summer and have a high chance of rotating on Equity Sales for one of them. I have heard mixed things about this group - some have said it will die soon due to the rise in electronic trading while others say high-touch trading will always exist because people still will...
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Five Rings Capital LLC - Interview - N/AFirst round asked estimation questions, computations, and 1 probability question with 20 seconds to answer each. I can’t remember the specific questions, but you should know how to do some basic numerical computations such as exponentials and logarithms. The second round I got asked more personal ...
ICAP - Interview - BrokerageWhy you have chosen to apply to this position What attracts you to the role to which you have applied If you have the competencies that are relevant to the industry and the companies culture and values How is interdealer broking faring in the challenging economic climate? What is interdealer broking...
Deutsche Bank - Interview - TradingA statistics question that asked about the expected value of a game. Cannot recall which exactly but they did not expect actual answers; more focused on the thinking process. Other questions highly based on what you're past experiences are and your interviewing position at the bank. Because I had so...
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Trafigura Grad Program... hours, exit?So my brother just got out of the military and is interested in the commodities firms like Trafigura, Glencore, Vitol, etc. I saw Traf has a cool 2 year, 8 month rotation grad program. He is having a kid though, and doesn't want to be slogging 80+ hours a week. 60-70, no problem. Anyone have any...
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T3Live.com Education - has anybody taken one of their training courses?i'm not talking about exam prep (series 57, etc..)...i'm talking about their T3Live technical analysis training/education for prop trading. Did you learn how to make money prop trading? Have you been able to successfully implement what you learned?...
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UK - Interested in a Career in Structuring/Trading - MSc Finance LSE offer - Happy to provide what information I can in returnHi guys, My first post, I am looking for some advice and happy to offer what information I can in return. I am British, based in London interested in Structuring/Trading and wondering how to break in/whether I would even like it if I did. I understand Structuring is rather niche, but I do find wh...
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What are the best undergraduate degrees to become an exotics rates trader or equity derivatives trader?I'm figuring out what degree to do to become a trader, ideally in exotics or rates trading or maybe structured credit. Should I do an economics, physics or engineering degree?...
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D.A. Davidson & Co - Interview - Sales-They had a technical problem and was unable to pull up my resume so I was asked to verbally explain my resume to the interviewer. Which is a little bit awkward considering the amount of speaking I have to do so in terms I didn't go too much into detail of every single activities I had done so do fe...
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The course of action to make it a success trading journeyHow to become a savvy trader? Is it possible for you to become a savvy trader? The trading success is not something you can grab that easily. Most naïve traders think trading success is simple, so they just try to target trades without much understanding. The Australian traders are not the ones wh...
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Bloomberg terminal access SF Bay AreaDoes anyone know if you can get access to a Bloomberg terminal regularly in the SF Bay Area without being part of a university or trading platform? I'm willing to pay for my use but there does not seem to be any companies or locations who offer one....
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Trading futures on a personal account while working at BBIs anyone doing this? I will be starting at JP Morgan as an analyst this June and I would definitely like to keep trading. I understand the PAD (personal account dealing) policy requires me to pre-clear all trades, but I wanted to hear from anyone actually doing this (if the whole pre-clearing proce...
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Physical Trading: Best commodities to be in?Hi all, I'm a long time lurker on this forum but I've benefited a lot from all of the discussions surrounding physical trading. Currently an undergrad with internship experiences in Base Metals and I'm looking to apply for grad positions as an entry-level scheduler/junior trader soon. My question i...
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Performance Trust in ChicagoHeard about them recently, anyone have any info on the firm? I'm coming from buy-side experience so I don't know much about the trading world. Also anyone know how Chicago compares to NY?...
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Help a clueless undergrad weigh 2 offers: AllianceBernstein vs Ronin CapitalHi, I'm currently a senior at a semi-target majoring in Math/CS. Little late to the party but after a long search, finally received two offers, albeit pretty different roles from these firms. From my limited understanding, Ronin is a pure prop trading firm and the route I'd be undertaking would b...
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Akuna Capital LLC - Interview - N/AHonestly, I did not expect the video interview to start immediately, but the hardest part was probably the math test before it. The mental math was straight up, like 57 x 36 ( no calculator), but this was followed up by some GA sequencing questions: "what comes next", and these were very hard, but i...
Lazard - Interview - N/AHardest questions include: First-round interviews on campus, consisted of two interviews. Second-round interviews consisted of Megaday at Jacksonville offices ( 6 interviews with each of the differrent divisions (Equity, Debt, Research, Sales & Trading, Investment Banking, etc.) + a group exercise. ...
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Could someone enlighten the world of equity derivatives for me.. I recently had the pleasure of networking with a BB trader and one of the things he told me is that he thinks one of the best seats to get on a trading floor is a position as an equity derivatives trader, especially if you're interested in transitioning to a macro fund. Any idea why/if this is tru...
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Equities Delta One - Hot or Not?Heya guys, I was wondering what's the consensus on equity delta one trading desks? - What are exit opps to the buy-side like (which funds typically take on delta one traders, if any) - How transferable are the skills to other desks - Compensation - Longer term prospects including how susceptible are...
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Small prop shop offer: is it a big deal?Hey fellow monkeys, I have gotten an offer from a small prop shop in Amsterdam Area (60k Euros pa + Bonus). My other offer is from non-MBB (think Accenture/ATK/LEK/Strategy&) in consulting role in India. I would definitely choose Prop Trading over Consulting for a similar level firm but here I am c...
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JPMorgan Chase - Interview - Prime Brokeragetell me about a time where you worked in a group and how you participated for the success of the task at hand. i tried my best to answer but had a difficult time due to the fact that i am rarely in a group setting or working in a group i was able to think of an actual experience from high school and...
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Delta 1 Trader JobWhat risks exactly does a delta one trader manage (on the sell side). Is this quanty or a CSey or a non technical type of job? What are the possible exit opportunities?...
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Analyst pay 1st/2nd/3rd year in S&T Canada (2017)?As an intern, just wondering what the prospects look like a few years out in Canada (Bay St). If possible please split between base/bonus. FYI I'm interested in knowing about FICC S&T not equities. Thanks....
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SA 2018 S&T CanadaSophomore Canadian university student from a non-target. Anyone have any numbers regarding the number of offers/positions each of the Big Five recruited for S&T SA? (since I am assuming the superdays for all of them ended and offers were sent out)...
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2018 Sales and Trading Recruiting (Intern)Hey guys, there's too much IB and not enough S&T. So lets get a thread going on the recruiting timeline for Sales and Trading. Comment below with any info that you have. Feel free to ask questions along the way!...
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