How did you pick your product?
2020 BB SA here, starting as a Year 1 Analyst this summer. As the SA program was completely online, it was tough to get a feel for the atmosphere on each desk. Though I was offered spots on multiple desks, I ended up going with a derivatives team in Prime Brokerage. I'm wondering if I made the right decision.
Got a question for the more senior S&T folk, who have perhaps worked on multiple desks or with multiple products.
Do you like your desk? Do you like your product? If so, how did you pick it?
As a new grad hire, there will be some mobility for me to shift desks if I don't fit with my first assignment, and I'm wondering what I should be thinking about when considering fit.
I think the majority of S&T is all about luck
I wanted(like everyone else in commodities) to be an oil trader
Got close, was able to do a rotation on the oil desk but they had no availablilty for an associate trader. Ended up on the natty desk and thought i would hate it. Ended up not liking it
5 years later I'm trading natty and love it
What would you pick if you could do it all again and had a choice? Still natty?
Energy-wise
Natty, Mexican exports or LNG
IMO all other markets are dead/dying a slow death
Why do you say all other markets are dead / slowly dying?
Only in regards to financial power/gas.
West/Ercot/MISO/East volatility and liquidity has only decreased since 2015 every year. Yes there are one-off events but spec trading in those markets is difficult
Mexican exports? Guacamole ?
Avacado's for sure, limes, watermelons(coming up on peak watermelon season)
Look at your skillset, your personality and others on the desk that do similar roles and see where there is a fit. Like other dude, was able to do Oil Trading ended up in power/gas, I would absolutely loathe Oil Trading and power/gas fits my personality much better. My friends who debated equities/bonds/FX etc similarly made decisions.
I disagree think there is volatility everywhere in commodities. Think FX is going into a bit of downturn with blockchain stuff picking up. Equities has already vastly changed and don't think it changes that much more. PB was being squeezed for a while but it survives Archegos should look fine just like PE, PB should retain value since too much capital out in the world.
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