Which would be more advantageous
I know it depends on many circumstances, but what would you think would be better for someone looking into trading:
Getting a job as a trader/trader assistant with a new hedge fund that is starting up, or working for one of the big banks going for an analyst position.
I am leaning towards the hedge fund because they probably would give me a little more responsibility and more of a hands on experience than having to be the office bitch as an analyst with a big bank.
I'd go with the bank if I were you since thats where you'll realize how the BIG players make money. Also, try to come up with good methods/models as to how to trade if you want to do good.
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Silly question. Depends what hedge fund you end up with. If they have atleast $1B AUM, I'd take the hedge fund route in a blink.
Traders at banks don't actally 'trade', rather are mostly market makers. Ofcourse its different with the prop guys but getting there is much harder.
well its a brand new fun, I doubt they will have 1b in assets..
Market making is trading. But managing prop risk and managing flow risk is very different
I don't know if that is specifically what I am doing. I think all traders manage their risk, even those at the big banks. No?
ya i checked into it they do not have close to 1bil in assests, one advantage though: no 100 hr work weeks.
Also, to further the mkt making point, market making in less liquid products has a very strong prop component b/c there may not be a real two way market in the product
Additional question: Would trading for a non big bank trading firm help my chances of possibly getting a job with a big bank a year or so down the line?
where would you go?
I don't know I would have to look into what the banks specialize in, and depending on if I enjoy my time with this commodities firm, then decide which bank would be most interesting.
Liquid or illiquid, I wouldn't consider MM as 'trading' even though it is labelled so. You're basically catering to the client's order and tailcoating to make some money for yourself.
As for the original poster, would be better to worry about this when you actually have offers on the table. Also if you want you can pm me the name of the HF which would provide greater insight.
On a side note, had a shitty day today and the MD is on my ass...for a measly $22,000
What exactly do you trade? And tell me that exotics traders don't wear risk. Or bermudan traders. Or even swap traders who take down a few yards. Swap flow desks can have risk around 1mm per bp at various curve points. Tell me that isn't real risk.
Traders risk their firms capital, whether in a prop capacity or a market making capacity. They are different sure. But market making is very much "trading".
I cant give you the name of the fund because I haven't been told it yet, I have just been told its brand new, which makes me excited about it. I am more interested in it being a stepping stone in my trading career. It will most likely be in commodities trading. I dont really know if they are going to call it a hedge fund, or a trading firm, or whatever the hell the new, arbitrary buzz word is.
would be trading on a floor? the experience in the pit is very different.
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