Research and S&T should be on the same side of the wall? Banking is inside information and is on the otherside. At GS whenever we talked to research, we would have to set up very very stringent procedures and even have a "proctor" on the phone to basically relay our questions to research from banking...

though we were always very warned about our trading secondary market counter parts.. apparently they loved to call interns and new analysts and make them feel important to take advantage of them and have them accidently "slip" out information.. but our VPs basically ran across the room and prevented any intern or new analyst from talking to them... but its funny they try..im assuming at all BBs you have to go through a lareg deal of "chinese wall" training as well.. im not sure how it is at smaller shops but im assuming all the bigger places are like GS and take it very very serious...all that silly politics and reputation ya know?..

this doesnt meant to say at higher levels shady sht doesnt go on...of course it does.. traders just manipulate the market in different ways now :>

 

I worked in equities at a boutique last summer, and the Snr. MD was a wannabe Big Swinging Dick from the 80's. Literally, the only advise he ever gave me consisted of "putting your balls up on the table" or "letting everyone see what kind of balls you have".... needless to say, the experience turned me off that firm, and that department in general. I only hope that my aspirations for M&A in the future lead to something a little more intellectual, mind-stimulating, and less "Ranieri" types ruling the roost....

That being said, I wish it was so easy to break in from the back office still..... (sigh, from a non-target)

 
technoviking:
I worked in equities at a boutique last summer, and the Snr. MD was a wannabe Big Swinging Dick from the 80's. Literally, the only advise he ever gave me consisted of "putting your balls up on the table" or "letting everyone see what kind of balls you have".... needless to say, the experience turned me off that firm, and that department in general. I only hope that my aspirations for M&A in the future lead to something a little more intellectual, mind-stimulating, and less "Ranieri" types ruling the roost....

That being said, I wish it was so easy to break in from the back office still..... (sigh, from a non-target)

Sack up

 
Best Response

Correction: John Meriwether hadnt blown up two hedge funds.

Equities made a comeback then got sent back to the dog house

Investment bankers still work 100 hour weeks

There have been 3 new types of cowboys the structured derivative trader and the prop energy/commodities trader, and the current sherrif the quant/algo trader.

Herman is still getting ripped off on bonds by rookie salesman

Computers and decimalization have ate away at spread margins

Suspenders with gold dollar signs will still get you laughed off the floor if not thrown off entirely

The gluttons on a mortgage desk have been succeeded by the bro health fanatic who loves their 2pm protein shake.

Management still thinks they are the BSDs of the firm the new Gutfreund likely Jamie Dimon.

6 million dollar yearly bonuses to the CEO is now the payout of a top trader.

Hedge funds have invaded similar to the way sovreign wealth funds did.

You are still considered old on the desk if you have been there 3 years... and 30 is a senior citizen.

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
 

Ya, but everyone knew Meriwhether did nothing wrong. I think the guys name was Paul Mozer who was trying to manipulate the TBond market by purchasing over 30% of the allotment. Meriwhether followed proper protocol in reporting him, but someone has to be made an example of.

 

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