Currently doing equity research at a major asset management house, making Buy/Sell recommendations on stocks. Is it possible to switch from here to equity proprietary trading at BBs? What are the additionl skillsets needed and must one necessarily understand derivatives? Lastly, are there any short courses that one may take to make himself more marketable for a prop desk role? Thanks.
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I'm actually in a very similar situation right now, except I'm current doing an internship instead of FT. After graduation next year I plan on trading though.
For what it's worth, I've been doing a lot of statistical review, which seems to be what a majority of interview questions are in trading. Also just began reading some trading books (Market Wizards, etc.) to get an overall feel for the industry. One of my best friends just started trading this summer but I haven't talked to him in a while, although I'm defintely going to get his input on all this.
But that's just what I am doing right now, I would really like to see what some of the experienced guys think on this subject though. Would especially like to know if getting extremely familiar with tech analysis would set me apart a great deal as well. I plan on reading some of the TA books I have anyways, but I'm just curious how much knowing that kind of stuff ahead of time will set you apart from other candidates.
Lots of people in equity research went into prob over the last few years but they were sell-siders (and therefore known quantities to the BBs).
Prop desks have been scaled back both in headcount and in book limits so it's unlikely you'll find anything now.
Your best bet if that is what you want to do is to ask your current employer for a small sector-specific book that you can build a track record on as a PM.
you won't need to know advanced derivatives - there will be internal departments that can help you structure trades around your ideas.
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