Interns for startup hedge funds
Would local NYC college students be interested in an internship at a small one-man startup hedge fund?
I'm talking about a very small startup fund trading out of the manager's apartment, with no excess funds to pay the intern. There are fringe benefits for the intern (the manager's contacts with trading desks at about half the BB firms) but no direct compensation. I suppose if the intern can manage to earn school credit for the internship...i'd be happy to sign whatever forms they needed. Think of it more like hanging out at a friends apt, watching the friend trade, and getting to pick their brain for a few hours a day. Are there people who are interested in trading who would be interested in this?
Potential interns would have to already live in NYC. Is there a better place than this board to find college students interested in trading who would be interested in this?
i am currently an SA at a diff firm but there would be plenty of people interested i would assume depending on your credentials/past work experiences/etc why don't you post your resume or brief summary of your works and see if any stern/columbia kids are interested
If only you were located in Boston.
Not that this helps you at all, but If I was in New York, I would absolutely be interested
A little background on me:
My first significant wall street exp was as a desk quant at a BB for 3 years. Then i got a seat trading (flow /prop), and have been trading US Govt bonds for about 7 years now. I've evolved into a bit of a global macro CTA....but my primary emphasis is still trading US treasuries and US equity index futures. I occasionally have a view on FX or some large cap stocks (called the recent 390 bottom in AAPL like a champ)...and called the 1705 high in ES too. Anyway, i have a plethora of experience trading US macro, and i've bounced thru a handful of firms while working on the sell side. I know a bunch of people on the sell-side in the US rates business...i'd estimate about half the BB firms (the street can be a small place), so if i felt it was appropriate, i could make a few introductions for interviews...if i feel its appropriate. I've developed a prop model which is what i use to view the market from a technical perspective, an then i overlay my view of the market on top of this technical model to trade. Its turned out to work pretty well for me. I use this model to trade my own money. I am not a typical global macro trader, in that my emphasis is trading US Treasuries. Perhaps i'm not a global macro trader at all...i'm a technical US Rates trader.
On the flip side, what i'm looking for...i used to trade as part of a large desk, and now i've isolated myself. Usually the markets completely enthrall me and i don't notice the time pass by (i usually look up at 4pm and wonder where the day went). However, other times its a struggle to keep my focus on the mkt...and this is why i'm looking for interns.
So, part of what i'm looking for is somebody to keep the room "warm" while i'm trading. There are a few random tasks that i could use some help with...nothing major. I'm not looking for somebody to actually help me with my trading...just to create a certain amount of "life" in the room. Then there are times when it would be helpful to have somebody else scanning the news services looking for an explanation for why the market moved the way it did. I tend to become immersed in every tick in the screens (which can be draining)....but also creates opportunity to get in the "flow" of the market.
When i was working at the BB on the flow trading desk, i was usually one of the guys that would teach the junior traders how the market worked (the treasury market is an over-the-counter market...unlike the stock market...so there are some difference in the mechanics). While you shouldn't expect an internship to be like taking a class at school...there are certain things that they just don't teach in school...which become 2nd nature to bond traders.
I'd suggest reading my blog http://govttrader.blogspot.com/ ...and then reading thru my twitter history https://twitter.com/govttrader to get a sense of my style, and to see if this type of market is something that would interest you..the potential intern. I would also suggest watching the PTJ movie "Trader" if you can get your hands on it...as well as the MarketWizards books..TradingInTheZone, Reminiscences of a Stock Operator...and all the other trading classics (and the Rogue Traded movie about Nick Leeson @ Barrings Bank with Ewing McGregor).
I need somebody who is excited about the market, spends just about every free waking hour watching / thinking about trading (you probably have a trading account at a place like Interactive Brokers or TD thinkorswim...i would strongly encourage this).
I have the tools to "demystify" the market...and i'm willing to teach the right person in exchange for what i'm looking for. Mind that i'm not giving away the secret sauce...but i can teach enough that it will be worth the time. This is in place of actually getting paid. I would expect my intern to be watching / trading the futures market on their laptop pretty much all day.
So, thats me, and thats what i'm looking for. I'm not sure if i'm looking for somebody who is totally green...but if you really have the desire, i imagine it will show up. Maybe for the right Columbia or NYU student..this would be a good fit. I'm really not sure if anything will come of this...but i thought i'd see if there was a way for me to find a symbiotic experience.
one more thing...there is a small dog who has free reign of the place...so if you have allergies or another problem with dogs...then this would not be a fit.
How small? This is important.
If you were in Boston I would have eaten this alive.
I am a college student in NYC and this sounds too good to be true.
any NYC college students who are potentially interested in this, email me your resume, social media links, and a little about yourself. The social media links are important because this will be more about "fit" than your resume (technically, i'm not "hiring" anybody...just letting you hang out with me while i trade...and you can call it an internship for your school/resume if you want). Just be honest...that's one of the most important things you will need to learn in trading...emotional honesty...i know you all have facebook/instagram/twitter...so let me see your personality. Please don't think that you need to have much experience.....i'm just looking for people who have a genuine interest...that's the most important thing...be interested (ABC and AIDA)
You can find my contact info on my blog. I'll wait a couple weeks before making a decision, which should give people enough time to find this post and submit indications of interest.
(it goes without saying, the days / hours are flexible since there is no direct salary)
All college students in NYC should jump on this opp. If I was hiring, this stint will stand out in the resume stack of otherwise equally talented students.
Sounds interesting but doubt that it will have the recruiting impact that you suspect. I would prefer a candidate with reputable experience over a kid who hung out in some guy's apartment. Really depends on what the internship ultimately entails.
i'm doing the exact same thing (trading) that i did while i was prop trading in my market making seat at my last BB (think MorganStanley). I have the same screens...same analytics..same everything (built most of it myself)..except that i'm doing it all by myself (and understandably have less balance sheet to work with)...but i'm a customer now...no longer a market maker.
As far as the experience for the intern...it really depends on how much they are able to immerse themselves in the markets. I think i even have some of my old Intro To Interest Rates handbook type-stuff if any of my future interns are interested.
My expectation is that my interns will be profitable trading 10yr treasury futures and S&P emini futures (among other things) in their own accounts by the time their internship with me is over. I would be disappointed if this was not the case.
I'm moving to NYC in the spring and I would be interested.
This sounds like an awesome opportunity. WSO monkeys should jump on this, especially if they can also balance college work + another internship.
i'm still waiting for more NYC college/grad students to apply..but to respond to this comment...since i'm not offering a salary or "employment" the hours will be very flexible. If you are interested in trading, then shoot me an email.
Wow this sounds like an unbelievable opportunity. If only I wasn't stuck in the midwest. I'd jump on this yesterday.
Another point to note: there is immense value to OP's network of contacts on the street. The best jobs are often not posted on school career websites, but obtained through introductions like these and people passing your resume along. Good luck.
Also, excellent blog, by the way.
Did something just like this over the summer trading very similar instruments. An experience like this is worth its weight in gold (or S&P minis) and if I weren't in school upstate I would immediately jump on this. The student-mentor relationship that comes from a position like this can't be beat, and if you have a real passion for markets there is no better way to expand you knowledge.
I WISH I COULD
lol everyone in Boston wants this
Sounds interesting.
pm'd
Are you still hiring interns? I am very interested, but I'm in DC. I'm from Johns Hopkins University and I would love this opportunity! I would work during the summer or the winter break.
I cannot pm you because I don't have enough points, but I will try to find your e-mail on your blog.
I know a lot of people were interested in watching the PTJ documentary which seems hard to find on the internet...so here is a link to it on youtube
While i am mostly a technical trader, i try to think like Paul as much as i can when i'm trading. It is not easy, and i often find myself lacking...but the idea of performing like an athlete keeps the mind fresh and invigorated.
^ Thanks for the vid
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