What to do about my Analyst who won't stop trading Crypto?
My analyst spends all day executing arbitrage trades on crypto currency exchanges. Not only is he likely making more money than me, but he's slacking.
Thoughts on what I should do?
My analyst spends all day executing arbitrage trades on crypto currency exchanges. Not only is he likely making more money than me, but he's slacking.
Thoughts on what I should do?
Career Resources
So beta!
Levered?
Have you tried going to him, asking him questions, looking to see how you can add value to his operation? I know it's intimidating, but if you try to find some common ground (school, extracurriculars, current crypto events, etc) it makes it a lot easier to start a conversation. I know a lot of people say this, and it's perhaps a bit cliche, but I'd at least float the idea of working for free for a while. Eventually, if you work hard, it will pay off, I can assure you.
And don't feel bad about your current job looking bad - everyone's got to start somewhere, and at least with your background you have a bit of foundational knowledge that might prove useful in this space. Obviously, you'll have to do the legwork on your own, but at the least you should be able to pick up some basic principles before you get started.
You're lucky you're in this position, if you're successful and network your ass off, the exit opps could be excellent. Crypto trading desks will definitely be looking for someone with your sort of experience, and you'll have the benefit of some actual, real-world experience in the field, instead of the dead-end position you're currently in.
No need to thank me, just hope you take advantage of this massive opportunity. And good luck. Let us know how it goes.
Nice. Very well put response.
No. He's getting paid to support his boss, not trade for personal gain on company time. Tell him to shape up or ship out.
Whoosh...
Is he Korean? If so, hand him your bonus. Not Korean? The arbitrage won't last long.
Given the fees, volatility, and lag time in execution, are arbitrage opportunities in cryptos really that lucrative? Can you even lever up to make it worth it? Genuine question so someone with knowledge please respond.
Yes. I know of professionals doing this in platform-type hedge funds. Not a strict arb due to the time lag, but it generates legitimate alpha.
When futures first came out there was a decent "arb" between futures and spot as well highlighted by various sites. The arb closed fairly quickly. High IRR trade.
if he gets his work done who cares. don't try to control someone's time if it's not affecting you. anyways... if you want to approach him don't be adversarial. 'hey man i love what you're doing and hope you're killing it and making fat stacks, i just don't want it to interfere with your job here. I also want to be on the lookout for you and if the MD sees you doing this you might get in trouble so just wanna make sure you don't get put in that tough spot. I'll let you know if anyone starts talking about it to me higher up, but I think in the meantime you should spend a little less time on it here at work.'
Tell him to get his work done. Doesn't matter if he's doing crypto-trades or online shopping; if he's slacking it's an issue.
This. Don't be so beta.
damn are you my manager? better get back to cranking out slides...
If some tight-ass in management catches him they will inevitably ask why none of the associates said a thing about it.
I can only guess you aren't at a big firm or your his network privileges would have been suspended already.
Whether that is the case or not, as an associate you should remember that shit always runs downhill.
What are his returns like?
shameless crypto currency plug... pump and dump, then gfy
This.
This.
IDK man maybe you should ask him if you can work for him at his new crypto desk -- he might pay you more than you're making now.
LOL - this is great. Ask him when XLM is going to moon.
ask him how you can get in on the trade as well, i would if hes making more money than you
As funny as it may sound, I have the exact same issue. Analyst trades crypto looks at coinmarketcap all day and does NOT get his shit done. Needless to say his performance review will be abysmal.
Not trying to be a dick to these kids but they should do these things in their free time, and particularly not at the expense of live deal situations. The kid adamantly says it's not being disruptive and yet not just me but a handful of his superiors have brought it up to this kid. He just doesn't listen and has this 'these guys don't get it' attitude.
You hiring? Not only can you remote mirror my monitor but I'll leave my cell phone in your desk drawer. Its 9:52 on a Sunday night but I can start tomorrow. Let me know.
I've been trading Crypto but if any of my superiors told me to stop i'd liquidate and uninstall the exchanges. not worth getting a bad review
Bold take but I say you blackmail him. 10% to stay quiet or you tell your bosses that he's been fucking off and doing all that on his own time.
OP Update
Hiring for analyst role. PM me for details.
Make him your bitch and ask for a 20% "performance fee".
If his returns are bad, kneecap him. If his returns are good get him some P/L.
Take him for lunch, give him 25k to invest on your behalf, cover him as much as possible with seniors.
just more reading news about crypto, then go tradin :)
ctelegraph, cdesk and this source : https://goo.gl/gxubgQ
Anything ever come out of this?
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