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+30
AMA: I'm a Dry Bulk Physical Trader

UnfinishedSentenc

I'm a Physical Trader in the Asia region and look after a combined book of +1Mt for origination and sales of dry-bulk commodities. My background has been in some way or form of international trade, with 6+ years in operations before getting into a trading gig. I trade majority of dry bulk...

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+9
Front Office Market Risk

The Original Mark Hannah

Lads, I’m constantly seeing people on LinkedIn, and on job offers that say “Market Risk Front Office position” etc. I also have a friend that just put on his LinkedIn header “Market Risk front office at Bank X (BB)” I tried to ask and he says that is because they meet clients...

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Bloomberg Terminal Purpose

enterprisevalued26

Do asset managers have Bloomberg simply for research or is it mostly used to place trades? What is the best research tool to use in sales and trading?

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+1
Business Plan for a Trading Account

winthorpeIV

So I have attempted to pitch a VAR account to trade futures at my company-NYMEX energy futures to be specific. In turn, I have been asked by upper management to compose a Business Plan for the actual trading account, not for a specific trade. Has anyone ever heard of such a thing, and if so does any...

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Discretionary Equity Prop Firm - Is it a good idea to bring my track record?

internNumber75634

Hey WSO! Long time lurker but first time post. I am soon to be interviewing with a reputable NYC intraday-equity prop firm and was just wondering if any has or would recommend bringing some of my trades, tradervue data, notes, playbooks (from the Mike Bellafiore book template), etc. as a way to st...

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+1
Belvedere vs. Wolverine

ccxx543

Got offers from both for a summer internship and was wondering which one would be better. I would ultimately like to go to a more prestigious prop shop like Optiver, Jane Street, or Flow Traders. Thanks!...

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Which firm/bank to choose for S&T in Houston

ConradOPrice

I am looking to get an S&T internship in Houston next Summer and could do with some help.... Could anyone with relevant information tell me the advantages and disadvantages of choosing a bank, rather than one of the major oil firms like Chevron, Shell and BP. What are the differences in pay and cul...

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+1
Basics of Options

tyleryork

Hey guys, My partner Brandon Rith (formerly an 8x-Awarded Fidelity FINRA instructor) and I put together a post for college students looking to learn about Options: [Basics of Options](https://blog.achievable.me/2019/02/28/5-basics-of-options-in-5-minutes/?utm_source=wso) Wanted to get your feedbac...

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S/T Superday Tips Needed!

ironical

I was invited to a superday out of the blue (fast tracked without initial phone screen bc diversity) and it's in two days! Does anyone have general advice? What should I focus on reviewing? I don't know much about S/T in general - I have started reading the vault guide. You might be questioning why ...

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How to become a physical commodity trader?

marcrich2910_

Hi all, I'm currently a student about to apply to university for undergrad and I've had a strong interest in the physical commodity trading industry for a couple of years now and would like some advice on how to get there. Ideally I would like to work for trading houses like Glencore, Trafiguera an...

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+1
Secondary loan trading? Secondaries

Caduceus

Anyone able to tell me something about secondary loan trading, exit ops, etc? I may have an opportunity for an internship in this and I'm wondering whether it is worth pursuing. Long term goal is working at a Hedge fund ...

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FINRA Series 57 Top-Off Exam

brudda

Hi, Looking to buy Series 57 top-off exam material. If you have for sales, please PM me. tyvm! ...

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FINRA Series 57 Top-Off Exam Materials for sale

brudda

Hi, Looking to buy Series 57 top-off exam material. If you have for sales, please PM me. tyvm! ...

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+1
Macro Index at JPM

2020econgut

Hey guys, I am going through placement and was curious what the rep of Macro Index Structuring/Trading is? Seems like a new and super quantitative desk that is respected at the firm but not sure what to think in the realm of learning/exits. Any insight is appreciated....

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+2
market making profitability

coffeebreak

Market making has gone through several incarnations over the last two decades. The move from pit to screen trading in the late 90s to early 00s and subsequently automation of algorithms has seen some wildly profitable years for well positioned firms. But in the last few years there has also been c...

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+3
S&T from MBA.....What am I missing?

buckeye92

I have heard many people say that you shouldn't get an MBA for s&t. I understand why when it comes to trading, but why not for sales? and if this is true, why do so many BBs have associate programs? if i wanted to pursue sales and eventually management, wouldnt an mba be useful? ...

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2020 S&T SA/FT Recruiting Timeline

wso777

There's some threads on recruiting timelines in the IB section but they contain little info on S&T so I just wanted gather info specific to S&T here. Please feel free to share anything you may know, thanks....

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+3
Searching for Mentors

Sangisinacoma

Hey Guys, My Name is Mike SanGiacomo and I am an undergraduate student coming out of the University of Vermont. So far at school I have managed to pull a 3.85 GPA with a dual degree in Stats and Finance. I've had a couple internships (3), and I am also an NCAA athlete on the University Snowboard Te...

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+20
Anton Kreil - Institute of Trading and Portfolio Management MENTORING PROGRAM. Overpriced and Undervalue.

InvTra-KS

A) Totally disappointed with the overpriced and undervalue 3 month Mentoring Program (USD7001) I am totally disappointed with Anton Kreil’s Institute of Trading and portfolio management’s 3 month Mentoring Program. This is because the mentoring program is overpriced and undervalue. I have reg...

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Yield Curve and Spread (I, J, A, Z, S, D, N, E spread)

Gordon_C

I'm working in the fixed income industry at a debt fund investing in CMBS bonds. I help calculating bond's Price/Yield analysis, and hear a lot of spread, yield curve. My question here are specific to different kind of spread/curve: On Bloomberg, you will see the I, J, A, Z, S, D, N, E spreads or be...

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Relevant Background for Physical Commodities Trading

Prospectivestudent123

Hi, I'm currently taking part in a selective finance master's program. I don't have any noteworthy experience in the physical commodities space. Generally, is it even possible to enter this sector without a degree in engineering/chemistry? \ If yes, how should one best prepare (other than of course...

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How many people work in S&T in each BB?

gonline47

People often tell me it's better to work at JPM Markets or Citi Markets than GS Securities because of the difference in the balance sheet and revenues, but I feel like this figure isn't normalized with respect to how many people work at each bank... If one bank made 10 times the revenues of another ...

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S&T 2019 FT Recruiting Timeline?

aoliva_97

Just wanted to get some more info on when applications open and interview dates. I understand some jobs fill internally, just wanted to know if there's a chance to see postings. Thanks...

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Risk Internship or S&T

InternationalNon-TargetHARDO

I interviewed for a Risk position and one of the MDs for Credit Risk asked me if I would like to be considered for S&T. I am from a non target and it's my first internship, so I was excited and accepted his generosity. If I don't get the S&T position. Do you think I can still be considered for the R...

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+4
Help with Physical commodities

YoungMan

Hello Friends, I wanted to hear your advice. I have an undergrad in Earth sciences, and currently a masters in finance student. I was offered a broker position with an international brokerage firm. The position will deal with biofuels. Since I have no experience and that field and very open regardi...

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How candid is too candid?

oelralfrich

So here's my situation. I've been trying to get my foot in the door in this industry for a long time, like a looooooong time. I've switched degrees and did 5 internships, and this process has lasted over 5 years now. However, happy to say that less than 2 months from my graduation date (undergrad...

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Bulge-Bracket S&T vs Boutique Prop Shops

gonline47

I just got a summer analyst position at a BB bank and I'm extremely happy with the position. But I was wondering how it compares with smaller prop shops in terms of comp and lifestyle. I know, for example, a first-year at Optiver can make 300k. And this is in Chicago, where the cost of living is hal...

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Physical commodity trading in Europe

HisRoyalFreshness

Hi everyone, i'm new and it's 3:20am in a beautiful city in Italy. Please keep all errors. They are welcome gifts from my part. I have some questions regarding physical commodity trading in Europe, especially in Italy & Germany, since these are the two countries for which I possess the necessary l...

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Machine Learning for Trading

Shagufta -Tahsildar

I wanted to implement some Machine Learning techniques for trading. As I am just beginning, which algorithms would be good to start?...

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Poll: Jane Street or Lehman Prop Desk

seiye

If you had these two offers with similar pay and benefit packages (starting out at least), which would you take? ...

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Trading ideas emerging from research

Gonko

I am currently a student and work as a research assistant for a professor who's field of research is event studies. While his work is not directly targeted at trading strategies, it does offer some insights about anomalies in market behavior which could be used as a starting point for trading ideas ...

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Market making interview question HFT firm: correct approach?

aalgarnaal

I am interviewing for the position of trader at a HFT firm (Optiver/Flowtraders/IMC). Part of the interview process is a market making game. I have been looking online for tips for this type of question but I was not really able to find anything substantial. My approach (for now) is very basic and...

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Merrill vs. Morgan Stanley vs Lehman

redperson121

If you had a choice between Merill's or Morgan Stanley's or Lehman's derivatives trading support (Lehman's eqt derivatives). Which one would you chose?...

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Should I invest my mother's retirement funds in ETFs or trade derivatives and crypto with it?

pickingupthepieces

I'm a believer of the EMH and I don't think you can beat the market through value or growth investing unless you get really lucky or get tips. I watched some crypto/derivatives/penny stock traders on YouTube (see Tim Sykes) and I believe if I can just get a couple of good trades and get 15% return...

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private futures accounts

billrjones

Should private individuals be allowed to trade more than 10 contracts and or should they be allowed to have more than one brokerage account?...

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The impact of calendar spread orders on price.

Lucky-Lefty

Hi, I would like to know what impact calendar spread orders have on the price of the outright futures contracts included in the spread, if any? As it is possible to sell/buy a spread, and then close the position by legging in or out with the outright contracts or vice versa. Also how do calendar sp...

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+1
Grain trader to ag PE?

LuckyTheLeprecon

I’m still a trainee and really enjoying merchandising so this question is more for future reference and curiosity. I was looking at some ag PE funds and it seems like there are quite a few former traders at the top but all the lower level employees are former ibankers. How realistic is it for a ...

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Shorting a stock

monkeyfeet

How does currency appreciation come into play while shorting a foreign stock (since we need to borrow the currency at a later period in order to buy the stock)? Do interviewers care about that while we try to pitch a short?...

1
+4
Market Risk to Trading

BrianHunter

Monkeys, I know that has been asked few times, but discussions are getting older and I'd like to have your thoughts. I just got (and accepted) an offer for Quantitative Market Risk in Exotic Derivs & Commodities in a bank (think SocGen, UniCredit, Commerzbank) My target is trading, and given thi...

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+29
Why doesn't everyone invest in index funds?

mike ross

Can someone explain to me why every non finance professional doesn't just invest in low cost index funds? how can you beat the market when there are institutional/hedge fund investors that have more info about companies than you've ever dreamed about? The S&P has beat the majority of hedge funds, ...

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Transitioning from Software Engineering to Finance/Trading

nero8

I'm currently a software developer but my passion is Finance and I want to become a Trader. Given the following, what are my odds at even getting an interview for a (Junior) Trader role at a decent prop trading firm (i.e. Optiver, Hudson River Trading, Flow Traders, etc): - B.S. in Computer Science ...

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+4
Do traders model?

Emgi

Do public equities traders/investors manage full valuation models for their investments? Or, do they maintain smaller comparable tables? Or, do they trade mostly off of research reports/news?...

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DCF Model Need Help

meolep92

Hello guys, Im currently brain storming for a presentation I have to do in University (which is a non finance class) The bottom line is, that I want to convince a comp to expand their business from a relatively slow growing market (Europe mature, US, Asia mature) to the Asian emerging countries. I...

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Flow Traders Case Study help

mikaelferrari08

Does anyone have any information about the Flow Traders Case study? Please either reply to this thread or PM me if you have some information/guidance/advice Thanks!...

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+2
S&T this summer, but possibly to recruit for IB?

BoJackBackpack

Hello! Any advice would be appreciated on this: This summer (2019), I'll be a S&T SA at a BB bank in NYC. However, I've recently thought about the possibility of starting to do some recruiting for FT IB positions (chances of lateral-ing into IB of the same bank?). When should I start networking an...

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