Self Trading and BB
Would a BB hire a trader who has no actual work experience but traded stocks on his or her own and made a significant amount of money, with tax returns and other things to prove it?
Sure... but it's not like you can just send them your tax returns and the'll hire you. The key is to get the interview.
Why would a BB take someone who has no actual work experience besides trading for himself? Also keep in mind this person is mid 30s
The age definately plays a huge difference. I was assuming they were recruiting through OCR and were going to use their trading history as a demonstration of trading ability. In this case the chances drop significantly, but not to zero. There is still a chance that other factors play a role i.e. networking/connections, etc.
What about at a hedge fund?
You can apply and see what happens, but again having connections is key. Go and check your undergrad's alumni database, do you know anyother traders? maybe they know someone. Connections make the process easier because places look at so many resumes that the ones with connections get looked at first.
What does delta punting have to do with market making?
And unfortunately, prop desks aren't in the business of hiring every dick and harry who trades stocks at home either. Where does that leave you?
200,000% profit in 12 years
What a funny message.
If your “supposed” friend really made 200,000% in 12 years, why would he want to work for a BB?
Using simple numbers, 200,000% over 12 years is a lot of money…over the tune of $20Mn+ with a $10K initial investment and much more if money was reinvested or if additional capital was put into play. There is almost no way your friend as a day trader or investor would ever want to settle for anything less than a MD level which would be impossible at a BB without any type of professional experience.
So if your “friend” at 31 really did do that, why would he want to work for a bank? Why not just hire an IR team and start his own hedge fund? Better yet your “friend” who has a recordable track record should be able to borrow from friends and family if he/she was so good.
At the end of the day, self trading means nothing. Trading small amounts of capital personally means very little compared to trading large amounts of institution capital.
The concept of investing or trading success is much harder with larger amounts of capital.
We have a full time analyst who started last year here who made around one million self trading since he was 16 from a 10K initial investment. It was a good talking point in the interview and the hire ups were impressed by this feat.
However, the reason he works here is because he came from Harvard with a good holistic background with experience and presentation.
That’s just the sad truth.
Good luck to your “friend.” This post made my day.
20 mill from 10k lost it all in the bubble
20 mill from 10k lost it all in the bubble
No reason to lie on here tbh I was just asking a question, also older than 31
If your friend is too stupid to put some of his money into safer investments, I don't see why a bank would hire him.
If he really is good, he should find another 10K and make those 20 millions again.
No one saw the real estate bubble about to burst, why do you think so many hedge funds when under?
The SEC has regulated his original style of trading.
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