Is anyone else somewhat happy about the market turbulence?

No, there's no way to spin this in a positive light.

"Maybe it's the schadenfreude talking..."

No, actually that's the asshole inside of you talking. Greed is good...but only to a limit. Come on, people are losing their jobs, homes, life savings and all you can think about is your precious prestige factor? Maybe now everyone on this forum will see you for the scum you really are.

No way to spin this...logically it makes sense, but it is predicated on the notion that you will not get laid off soon...and in this market...

b2:

here's why: 1.) smaller incoming analyst classes and less banks - this means competing against less guys to get into those elusive buy-side jobs

WTF?

B2 is a huge jerk-off but his asinine comments are occasionally entertaining…

The strong are not getting stronger.

The "strongers" are merely surviving. For now. Dumbass.

I do agree somewhat with b2's points - at least that's what I tell myself to make things seem not as bad. But there is no doubt that the situation is horrible for all parties involved.

I agree w/ b2. For poor people, like small towners and other shits, life sucks. they can't pay their mortgages, they can't buy food. Waah Wahh. It's not like you buy expensive shit anyways, eg they shop at a discount, instead of at whole foods. WTF do they have to complain about, anyway. They buy their clothes from wall mart anyway. They're not the ones who have to buy Z Zegna, armani, hermes, freeman clothes to impress the client. There is a 1000X more pressure on Wall St.ers than pissant hick farmers or construction workers. Poor people should just fuck themselves and get their head out their dollar store ass.

Unfunny trolls, just another byproduct of this credit crisis?

@John Mack: Where's the Dow at? Still lower than my I.Q. @Dream: +1000000

lol b2.. you will never end up at any legit buy-side shop... keep dreaming

which bit do you want elaboration on? Within my circle of buy and sellside friends I have consistently been the most bearish of the last 18 months. You don't buy shares on the past, you buy them on the future.

Hey Dream, it's pretty easy to agree with yourself. I'll let you into a secret - you're not the only one with two usernames...

What's happenning now is great. Just puts people in their place.

Let's face it. At a junior level, you really know nothing. Your job entails a) Selectively choosing industry reports to build a story (with no personal conviction on whether it's really true) b) Back-solving your model c) Processing some transaction (due diligence etc)

However did we got ourselves into thinking we're financial guns making hundreds of thousands of dollars and being able to pick the market? Analysts are overpaid for the value they add and a lot of know nothing about markets, and I mean that literally. Just take a look around your office - how many have been burnt?

Hahaha, I agree. This job is mind-numbingly retarded, and, these days, it's literally 90% face-time; but, hey, they're paying me and I'll be on to bigger and better things, so I'm not complaining.

No. Colleagues have lost their jobs. Anyone who enjoys this environment is either 1) not working in finance or 2) a misanthrope doomed to loneliness.

Also, everyone, don't listen to Dream: http://www.wallstreetoasis.com/forums/rent-help

go die marijuana man, piece of shit

juwannamann just de-pantsed dream

effin hilarious.

in regards to the original poster - there's nothing wrong with trying to be optimistic, however, you come across as being self-involved. and on a less condescending note, you would be prudent not to illusion that this environment is somehow good for you.

Ha two.N.twenty, what a tool. What do you do? Some third tier job at an unknown HF?

actually, I rent out apartments in Toronto for young management consultants on a budget

oh snap!

http://i304.photobucket.com/albums/nn195/89sieg/owned.jpg

hahahaha

whats your budget dream?

You're asking bankers whether the stock market failing is a good thing for them, wow.

Dare I say I have thoroughly, thoroughly enjoyed the market turbulence this year.

1. Life has been so much more exciting, witnessing such historic events and being a part of the action, as opposed to when I started everything went up and it was relatively boring.
2. I have learnt so much more this year than all the former ones, this is the first year I've looked in detail at all the FICC products outside my asset class and how they all tie in together for a macro backdrop. Also during a bull market people can be sloppy and lazy, now a lot more attentive to detail.
3. I've always been very competitive, and my happiness is largely based on my relative standing vs my peer group. So many of my university peers have been laid off or left, whilst my career's still going well, which makes me look (and feel) much better.
4. There are too many mediocre 'dead weight' people in this industry which makes it look less prestigious. This crisis has differentiated the people who can withstand extreme pressure and those that crack. Incoming grad headcounts massively lower means they'll select a small handful of top people and the industry will be deemed more exclusive and competitive, once the dust settles.

Two things are annoying me though - firstly my bank has not laid off anywhere enough people, wish they would can every surplus needless mediocre employee to further increase our bonus pool per capita - everyone agrees with this here but won't openly admit it.

Secondly is the way the media have portrayed this, that everyone in the entire industry is royally screwed. When I tell people what I do they'll say stupid sh*t like "Oh dear, surely not a good time to be in that", "So you probably won't have a job by the end of the year?", "So you guys are going to get paid like McDonalds guys this year?" etc. When in reality, where there's losers there's winners, what happened this year couldn't have been better for my career, my bonus will still be a multiple of last year's, and there's no realisation that the defensive resilient 'rounded' banks have never been in a better position, in the longer term.

=== 23yr old Associate

hahahaha... you sound a lot like me. pretty soon john mack will accuse me of having a 3rd user name!

As immature as b2 can be sometimes, you guys really have no sense of humor (at least the ones answering the original post in a serious fashion). Although I'm thoroughly enjoying the dream/two.n.twenty exchange.

Kuka,

You do realize that if your firm chooses to lay people that could very well include you?

You're the same one who said that your firm (and I know which one but for the sake of privacy I'll keep it to myself) referred to itself as a "family"? LMAO...give me a break.

I am b2's second username. I am a massive douche, who, for reference will never get laid.

Kuka, either your group must be a joke or you are flat out lying. I frankly don't know which is more likely. What sort of group are you working in where an associate is working "on par" with Directors? It doesn't make sense. No 23 year old can source deals like a Director. Furthermore, given how popular this site is, you'd have to be an absolute moron to all but identify yourself and act like a smug, superior douchebag while doing it.

Kuka. You sound like such a fucking tool.

The party at the banks is fucking over. After the next bonus (if there is one) everybody will be available and looking for a job. You better lock something in as there won't be many jobs for the next 1-2 years. Oh and if the govts buy equity stakes I am curious just how bad the pay caps will be.

kuka, unless you are a prop trader I don't see how you could perform better than the directors. Also if the government takes equity stakes, I'm most certain they will place caps on bonuses especially since Paulson will no longer be treasurer.

kuka, unless you are a prop trader I don't see how you could perform better than the directors. Also if the government takes equity stakes, I'm most certain they will place caps on bonuses especially since Paulson will no longer be treasurer.

If you're in a "meritocratic" area not M&A then you are clearly in markets. In which case if you joined as an analyst at 21 it is perfectly reasonable to be an associate at 23. Furthermore you would understand that titles mean nothing much in that sphere and therefore would not have your signature stating your rank as some sort of badge of honour. But then again we all know you are bsing anyhow...

kuka im real curious what you trade. PM it to me if you like.

CDS?

"Pissant farmer"? Unless you grow your own food, you should reflect on the condescension of this statement the next time you eat food, which will no doubt be from the labor of the "pissant farmer" who is, by the way, most likely part of a major corporation involved in sophisticated commodities derivatives to ensure that your $500,000/year income is sufficient for purchasing sustenance next year.

My dad has been a big fan lately of saying something along the lines of "we won't have hit bottom until CNBC has gone off the air and people don't even want to talk about stocks anymore because they just want to forget."

I gotta agree with Mack that this is a lot deeper and more long-term than assholes like b2 are assuming.