Louis Dreyfus Commodities Memphis - Lateral?
I am currently recruiting for summer 23 internships and was wondering what Louis Dreyfus' reputation is like in the commodities space as far as lateral hiring. I go to a large public school in the south and have family ties to Memphis and genuinely do enjoy the city. However, my ultimate goal would be to sit at a commodities desk at a BB in NYC.
So my question really is what is LDC's reputation as far as lateraling to a BB and how possible would this be?
bunch of LDC dudes at citadel so wouldnt be too hard to land at a bb
Top trade house in the aggs space
should be absolutely no trouble. good luck
LDC's cotton team is the best in the US probably the world, going to be harder from there than say Wilton just because proximity to banks and other commodities that LDC trades but they are a solid group.
I would bet a $1 you can never make the move you are trying to.
LDC Memphis to a BB in NY is almost impossible. they just don't do the same biz. One is a massive phy trader and the other is a customer focused paper desk.....
Disagree with you here. Most ag desks at banks are desperate for kids with even some awareness of the mkt out of school. Likely different in sexier metals & energy markets.
What ags desk at banks lol
Why would you want to though (in terms of overall comp)? Maybe changing locations to Wilton would be nice.
Not one Elaine / Seinfeld joke? Disappointed
Unless you are super bearish cotton or can't stand the idea of living in the South, that's an unreal desk. Best cotton desk in the world as someone said above. And way lower CoL than most other places.
Edit: see comments below.
This is a good example of bad advice on this forum, even though it’s well intentioned
yes ldc has largest market share in cotton and the desk has had a few great years in the past, but this doesn’t make it a good place to be. The guy running the desk has held the position for 30 years and he won’t be giving it up any time soon. Futures trading accounts for 50-75% of the total pnl, but the position is kept a secret and you’ll have no idea what’s going on. The overall physical position is also owned by the platform head + 1-2 other senior people whove been there for 10+ years, but still have decades left in their careers. You will be underpaid and you probably won’t make 200k until 7-8 years into your career if you’re lucky.
LDC used to send all their new hires through the Memphis office and almost all of them can’t wait to leave and move to other desks where they can actually have a little bit of responsibility and actually learn how to trade
I get the frustration but that is not an uncommon setup at desks that dominate their industries. Very similar in metals. I would argue someone making less at a Glencore/Trafi/miner knows a lot more and has a higher ceiling than a trader currently making more at a smaller trader. Surely LDC cotton experience can translate at smaller shops? I get that it’s not the sexiest rotation if you’re on their grad program.
thanks for clearing it up
What's so "legendary" about LDC's cotton desk? Can't seem to find any great info on LDC trading, can't even find anything on Neal Driscoll
Will say this about LDC, it's one of the more "prestige-seeking" of the ABCDs, lots of T20 school grads (Dartmouth in particular) around their trading desks.
somewhat but easily possible if ur not tho. i had an offer from the coffee trading program and i came from a non target.
What were the interviews like for coffee trading?
Getting in the cotton desk at LDC is the most prestigious position you can hold in the cotton industry. Your goal should be climbing up the ranks at LDC Memphis.
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