Glencore - IPO
Has anyone seen the enourmous amounts of money that Glencore partners will be worth post the IPO. Ivan G himself could be worth c. $9B and some other partners (fellow South Africans like Stuart Cutler) will also be paper billionaires. Lower level partners will be worth hundreds of millions and there are a few hundred of these.
Glennys is (maybe was pre-IPO) an amazing place to work at work at. If one could hack the tough culture and make it to trader status it seems to be a far better place to work than any BB. The guys I know personally that work there are not partners, but they make way way more than most BB traders. Most are very unhappy about going public. Public scrutiny is unlikely to help comp.
I don't know what the point of this post is. But I know I should have become a copper trader at Glencore. If you don't mind buying into the culture, being stationed randomly in the DRC or some other undemocratic hellhole, dealing with dictators and entertaining clients at strip clubs then this place is the road to richest.
Screw Goldman Sachs. I'm going to trade alumina or coal at Glencore.