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Would I be a fool to NOT take this opportunity to properly learn how to trade!..what are your suggestions?
Dear XXXX I believe that yesterday you witnessed how rich your life has the potential to be through the financial freedom that trading brings. Having spoken to Jane Cox I understand that you demonstrated a keen interest in the benefits of trading. Last night Jane Cox highlighted to you the...
Gold Man Walking
I recall the first time I saw Dead Man Walking. I can’t stand Sean Penn or Susan Sarandon. They just about stand for everything I despise. In spite of these glaring prejudices; I was moved. Penn’s character’s redemption, Sarandon’s sacrificial humility and love really is the stuff of...
Ex-finance guy applying to M7, need advice monkeys
I would really appreciate some thoughts from my fellow monkeys. Since February, after my fund and I parted ways, I've been working on several non-finance related projects. Those of you who know me in person are aware of what I'm doing. I genuinely am a lot happier now than I was at my previous...
Non US Markets
All things considered, what are critical desks that should anticipate growth throughout the upcoming years. EM Debt looks favorable as countries such as Greece are teetering on the fine line of "developed/developing." Along with the fact that countries will forever issue more debt. That being said,...
Prop traders vs. entrepreneurs
Hello, Just wondering: What are the different abilities required to be a seven figure prop trader vs, the abilities to be a seven figure traditional entrepreneur? How do the motivations differ? Thanks
Reject a summer offer at a BB because you want to do trading? Advice needed
Hi all, I was hoping for some advice on my situation. I completed a spring insight at a top BB , and was fast-tracked for a summer offer for 2013. I was interviewed by a couple of trading desks, and one sales/marketing desk. I have always wanted to go into trading, and occasionally do a bit of...
How to deal with douche bags? Seriously what helps you guys
Hey Guys, So I am new to the board but I have been reading WSO for the past three years. I know finance is cutthroat but how do you guys deal with those utter douches (either in work or school) who just want to screw people over and have a god complex. I have always been an advocate of modesty and...
Would like to start a career in trading, found an internship in risk... should I take the series exams now?
Hi, I was wondering if it would be appropriate to take the series exams now( that are relevant for trading at BB )? or should I wait until and if I get a full time offer in trading. I thought have one or two series exams would make me more attractive to employers. I won't be able to look for an...
Trading resume, destroy it! (will give out bananas for comments)
Thanks ahead of time for any constructive criticism you can offer. My goal is to break into trading . I will be doing a ms in finance at a respectable program that should see some decent recruiting. I will give out silver bananas and/or a demonoid invitation code if you want one for constructive...
Cotton Trading Investigation News/Discussion
Article on a cotton trading probe http://www. ft .com/intl/cms/s/0/e2b9f84c-a4eb-11e1-b421-00144feabdc0.html#axzz1vnOo00ZZ also links to article http://www. ft .com/intl/cms/s/0/fec1a026-e77c-11e0-9da3-00144feab49a.html#axzz1vnOo00ZZ Still trying to understand... So last May prices were falling fast...
How do banks, hedge funds, and prop shops trade/invest?
How do different firms and desks within firms trade/invest? What is their performance? How do they measure their performance/risk/consistency? What is it like to work for them. I'd like both comments about different industries from talking to people and actual experience (you should indicate this in...
Traders Library
Hey guys, Found this site over at ZH, lots of free pdfs that deal with trading . Haven't had the time to really look through it but I'm sure there are some gems that people will appreciate. Here's the link: Trader's Library Enjoy.
Agency Trading
Can someone please explain to me exactly what agency- only trading firms do? Thanks in advance
Anyone subscribe to Moore Research (MRCI)?
Strongly considering doing so and would like to hear your thoughts.
Credit Suisse Collateral, Liquidity and Funding?
Hey I recently met someone who worked at Credit Suisse in collateral, liquidity and funding and I couldn't find this specifically on their website. I was wondering if this was under Asset Management , S&T , ibanking, ect.
RBC vs Chicago prop trading
So I already have an offer to be a trader at a prop shop in Chicago but I recently got a call from a friend at RBC and he offered me a job as a quant in their cash equities execution division. Now the RBC job is in NYC and I am not sure which one I should take. Any advise would be very helpful. I'm...
How to speak E.C.B.
Young FX monkeys, always wondered how to preempt rate hikes? Always wanted to know what signals traders look for at Central Bank press cons? Well read on because this might be for you. Jean – Claude Trichet is a man of words, and while most credit the Euro’s swan dive to the silver bloodbath ,...
Leveraging institutional broker dealer internship to S&T internship?
Hi, I am a sophomore at a target (GPA 3.58) and was fortunate enough to gain an internship in a regional institutional brokerage firm. The role description states that I will be researching markets and proposing recommendations to clients, and help produce financial markets report. Will I be able to...
John Arnold to retire/shut down Centaurus
Nice to retire at the top. He had a great run. http://finance.yahoo.com/news/legendary-energy-tr…
quant trading (equities)
Hi all, I am currently rotating at different desks at a BB in London as a part of the FT program, and looking at possible options for permanent placement. One desk I am considering is the quant trading desk in equities. They do backtesting and algos - a mix of agency trades as well as prop. Ideally,...
Corporate Action Trading
Hi Does anyone know about Corporate Action trading strategies? Eg Scrip trading or trading around other corporate action events? I presume this type of trading takes place in equity finance/delta 1 space of capital markets divisions of dealer banks. Anyone with specific knowledge would be be...
Thoughts on these prop shops?
infinium spot sun trading peak 6 eladian
SocGen S&T
i do know that SocGen is not the best company on the street, but it was all i was able to score for my internship. so i wanted to clarify a couple of points about SGCIB (specifically S&T) - 1. Conversion Rate - my HR contact stated explicitly that "an internship does not guarantee a full-time...
Sales Trading to Flow Trading/Taking Risk - Can this be done?
Hey everyone, I need some insight as to how I can end up in flow trading with my current background. Your advice is much appreciated. I graduated last year May 2011, from a non Ivy "target" school with a quantitative major. I'm currently a rotational desk analyst at a top institutional broker...
Trade idea generation
As far as I know, S&T ppl will constantly ask SA to generate trade ideas and see if they really know the market. I have checked website like Seekingalpha for trade ideas, and it's fine. I wonder if there is any book that teach how to generate trade idea/ how to develop investment or trading...
Trading Room Credit Interview
Hi, I have a credit risk analyst role coming up at BB ( GS / JPM ) in few days and wondering what are some of the things I should brush up for the interview? I believe I will work closely with people on the trading floor. Thanks
What's going on in the market today?
DJI, NASDAQ, and S&P are down 0.8, 0.93, 0.97 percentage points respectively. Following the sharp drop during the opening this morning, the market has remained relatively flat, trending slightly higher from the days lows. I figured given the news regarding the unemployment report released last...
Repo Trading - Why would one stay away?
I've seen several people say "don't do repo trading " or "stay away from repos." Why exactly would one want to stay away from Repo trading?
Talking Your Book
Many of you guys are familiar with the concept of talking your book, an old but increasingly crucial marketing concept for the investment professional. In the following video, Tadas Viskanta of Abnormal Returns, gives a great breakdown of the pros and the cons. Enjoy.
Trading desks of leading investment banks
How much capital is provided to traders for their trading activities? I am referring to big IB such as JPM , GS , UBS etc… What they do exactly? Day trading, swing trading ? Do they trade only indexes (those who trade equities)? I guess that trading individual stocks with big sums of money...
Barcap S&T and DB S&T (both in NYC)
Hello, Does anyone have experience working or having friends that work in either Barcap S&T NYC or DB S&T NYC . Was looking for the organizational structure of each bank's trading division and how it compares to other banks. Also looking for relative strengths of both banks in NYC . I know both...
Earnings Season Cometh
With another week upon us it's time to watch one of Wall Street's favorite dramas unfold. Yes, it's the March edition of Earnings Season and it is the time for all my brokers and traders to stand up and take a bow...then quickly sit back down and start making that cash. This week traders will be...
Experienced VP Needs Advice
11 Years in business - 120 AUM doing well. I have considered selling my practice inside my current bd a regional well known name. I am bored with the business. I don't like running appointments anymore, don't like meeting with clients and dealing with the psychology of it all (clients) and really...
Weird job offer. Need advice
Hey guys. I badly need some advice. So I got an offer from a fund this week. I can't go into details, but the partner is super well-connected guy who managed to get a stake in some upcoming juicy ipo's. He just opened up a prop desk and plans to use that money to trade, with leverage of about 10:1....
How I got into Wall Street and the steps I took
MOD NOTE: HILARIOUS WSO SPAM FAIL I want to share a great opportunity and my experience with a program I have recently completed. I took a class to attain my license for the Series 7 , through a 4 day preparation class and how I got a job through the program. I took this class because I am...
Fixed Income to Energy Trading
I'm very interested in energy trading at places such as Exxon, BP, Hess and find the industry and work very interesting. If you start out in fixed income trading , would it be possible to transition into energy trading at a big oil company? Thanks in advance!
Fixed Income to Energy Trading
I'm very interested in energy trading at places such as Exxon, BP, Hess and find the industry and work very interesting. If you start out in fixed income trading , would it be possible to transition into energy trading at a big oil company? Thanks in advance!
You think you have problems...
I went to a top 25 school BA in economics and my GPA was shit. My freshman year I was diagnosed with cancer and it was stop and start from there. I'd get halfway through a semester, have medical problems, get depressed, stop going to class. I had a number of medical withdrawals, dropped classes,...
Index options trading
I'm about to interview with index option trading desk within a BBs equity derivative group -one of the major skillset they emphasized was coding skills, my wonderings are about how much codings are involved? Is the index option trading part of the algorithm trading business?
Did Paulson Get the Last Laugh?
“Friends don’t let friends go long BAC.” – Eddie Braverman Well folks, we all thought he was nuts—but here we are, months after John Paulson opened a long position on Bank of America , going all in when it was trading at around $5 per share and a lot of people (including a lot of the...
How long did it take for you to actually trade?
To get your own book and trade? From not having any prior experience before starting.
Career Advice Needed - Objective career advice
Hello fellow primates! I was hoping to get some objective career advice. I am a Canadian living and working in Toronto at one of the banks here. I am currently in my first year as an Ops Analyst on the Canadian Futures desk. I am a motivated individual who is very serious about establishing a career...
Vol vs. Var Swaps in FX
This is a summer I've had since the summer, and no one I asked at the BB was able to answer this question. I just can't get over it. Question: So obviously var swaps are preferred and hence more liquid in equities because they're easier to replicate with options, but why are vol swaps more popular...
Trading associate at Bridgewater
I have a phone interview next week for the trading associate role at Bridgewater for their asian market shift. I know the role is primarily execution oriented. Interested to hear from anyone who's interviewed for this role and what to expect. The HR lady told me that the guy will inquire about my...
I what ways does corporate banking dept. interact with S&T?
apart from institutional credit lines (ie can you trade with counterparty X given Y amount of credit available?) what other interactions are present between those 2 groups? thanks PB
risk management for LNG traders at oil company
I work for this major Oil Company. I have been here for 14 months now (college hire). I have been offered to work in Houston as a credit risk analyst supporting NGL Traders. I have never considered trading as a future career path but now I'm interested to learn more about this. Is this a good place...
Weird Offer Dilemma: Risk Mgmt vs. Prop Trading
Hi everyone! I need to decide between two internship offers: one for trading at a fairly well-known prop shop in Chicago - think CTC/DRW/Optiver - and one in the Master's/PhD risk management division at American Express in NY. Amex group could be anything from consumer card risk to corporate...
Something wicked this way comes.
Traders, commence your evil finger pyramids. Retails CDS ’s are coming. I know there’s more than a few John Paulson wannabes here on WSO but, as small investors we never had the chance to bet like the big guys – playing around with exotic CDS’s and prospering from the horrendous failures of...
A straight up buy-side trade execution job?
I have an interview for the below position in ABS /CMBS trading in the investments group of a major insurance company. I am trying to figure out if this is a more substantial position than a strictly buy-side trading execution job. Any thoughts would be greatly appreciated: Large Insurance Co is...
Cross Product Sales groups- opinions?
Hey guys, I was just wondering what your opinion might be on cross-product sales groups. All the banks have different names but I am talking about the sales guys whole sell all products.. My initial thought is that it is very cool and you would develop a good understanding of the entire market and...
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