Deutsche Bank star trader Christian Bittar
did you hear from this Deutsche Bank prop trader Christian Bittar who is believed to have been paid 80 million € (so more than 100 million dollars) in 2008?
he was meanwhile laid off and is now at bluecrest.
are salaries like that often in prop trading? I mean, everyone knows gregg lippmann and so on, but are there actually many prop traders at BBs no one really knows who make amounts like that?
firstly, everybody knows about them...
aggressive players that are so powerful and so bullish that their trades alone may have moved the index
.. and no, "salaries" like that are rare as fcuk
Or they moved the index in other ways...
http://www.bloomberg.com/news/2013-01-25/deutsche-bank-trader-fired-ove…
"are salaries like that often in prop trading?"
Yeah, pretty much everyone I know in prop trading made that in their early 20's.
I'm not a fool. I know that almost no one is making that much money. my question was meant more this way: are there like two or three prop traders on earth who made that much in 2008 or are there maybe ten?
I do know that this is rare. with "salaries like that" I meant eight-figure salaries, not necessarily 80 million, but maybe ten.
perhaps I was not clear enough
You sure fucking sound like a fool.
this
Lieppmann was never paid this kind of money. In his best year at DB he was paid probably $10mm in bonuses which is a pittance given the billions he helped them made with the CDS trades. This was the catalyst for him to leave and start Libre Max.
Also Lieppmann was more on the sales than trading side, connecting buyers and sellers of CDS protections and in the process setting up schmucks who (deservingly) got screwed by their own ego and greed.
I actually read that he was offered a 50 mill bonus, but then resigned to launch libre max
2008....enough said. 2008 is dead can we never speak of it again?
"“The trading strategy, which was subject to the bank’s risk limits and used by many in the marketplace, was based on a legitimate market view that diversified and lowered the bank’s portfolio risk during the peak of the financial crisis,” Golden said." --> what a crock of shit.
If the Barclays power traders were able to tried criminally and directly, I see no reason why the bond traders should get the same treatment.
You will never get paid what they did in 2008 so really your post/question is irreverent. Unless you have a time machine to somehow make sure you were born 10 years earlier or so. 2008 was the peak and the changes in regulations/market climate/risk appetite will never bring back that peak for a while.
Anyone who is looking at 2008 as a reason to get into trading seriously should take a step back and read some history books, 2006-2010 has come and gone. The game will never be that easy again and compensation at a junoir and even senoir level will not be that high again for a long long time.
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