[SonnyZH]

(Original post by Txi)
Banks and their devotees are such BS losers - they are always shooting their mouths off at how great their trading is.

But when it comes to the real deal - revealing their trading stats, they are nowhere to be seen.

When there is quantifiable evidence of performance they can't even make the top 30 - the AUM can be reconfigured anyway and still no bank insight.

I guess you don't have to worry about that when you got govt. connections to bail you out.

Reason why amounts are small is that CTAs trade with their OWN cash, unlike banks who use customer cash/ positions - they don't have the guts to trade on their own


Can't get more rinky dink than that

You claimed banks don't trade, don't try to change your original point.

Proprietary trading in bulge brackets > Market-making trading. Why? Solely in the hope of making higher profits. As a matter of fact, investment banks such as GS, DB, etc. are known to earn a significant portion of their quarterly and annual profits through proprietary trading.

HOWEVER, because of the impending financial regulation (Volcker Rule), major banks have spun off their prop trading desks or shut them down all together. Reason why recently almost two dozen of Wall Street’s biggest traders have left for hedge fund opportunities, etc.

[crcr]

(Original post by Txi)
Banks and their devotees are such BS losers - they are always shooting their mouths off at how great their trading is.

But when it comes to the real deal - revealing their trading stats, they are nowhere to be seen.

When there is quantifiable evidence of performance they can't even make the top 30 - the AUM can be reconfigured anyway and still no bank insight.

I guess you don't have to worry about that when you got govt. connections to bail you out.

Reason why amounts are small is that CTAs trade with their OWN cash, unlike banks who use customer cash/ positions - they don't have the guts to trade on their own


Can't get more rinky dink than that

The reason why most hedge funds don't "reveal" their stats is because they aren't legally allowed to...although the JOBS act will presumably change this.

If they are so great then why is their AUM so small...even if it is just their own cash...it doesn't add up. Again, your argument makes no sense, CTAs are a tiny part of the asset management industry (they are riding the commodity bubble as well) and the stuff they do isn't that special compared to the discretionary traders from banks mentioned before. CTA strategies aren't very scalable either. I don't understand how you think 100k is impressive tho, if they are so good/smart, why aren't they rich?

Also, you were talking about people who came from banks before...now your talking about banks...either way, it doesn't make sense to say that people at banks can't trade when a significant amount of people in asset management come from banks as they are so big. As you mentioned Market Wizards, try looking at the latest one, most of those guys came from banks...it isn't the 70s anymore.

[Txi]

You've answered your own question:


When there is quantifiable evidence of performance they can't even make the top 30 - the AUM can be reconfigured anyway and still no bank insight.

I guess you don't have to worry about that when you got govt. connections to bail you out.

Reason why amounts are small is that CTAs trade with their OWN cash, unlike banks who use customer cash/ positions - they don't have the guts to trade on their own


what part of all this is unclear ?

That's BS, only 1 MW ever came from a bank, the rest are from all walks of life.

Since when is a HF a bank ? You don't know the difference and you want to trade.

Little wonder banks are so rubbish when it comes to trading.

[Regent]

(Original post by littlemissmidget123)
trading probably, but my dad seems to be doing fine as an accountant based in canary wharf

Is he a partner?

[littlemissmidget123]

(Original post by Regent)
Is he a partner?

yup - has been for 10 - 15 yrs i believe.. 2 of which were as a partner in the german part of the company

[Regent]

(Original post by littlemissmidget123)
yup - has been for 10 - 15 yrs i believe.. 2 of which were as a partner in the german part of the company

Big 4?

[DerPumuckl]

(Original post by Txi)
Reason why amounts are small is that CTAs trade with their OWN cash, unlike banks who use customer cash/ positions - they don't have the guts to trade on their own

You don't seem to understand the nuances between Agency, Flow and Prop trader. Even a bank with zero prop units, puts its own cash on the line via its Flow traders. Or do you think banks do flow credit without being long X billion?

[KLL]

(Original post by Regent)
Big 4?

probably deloitte or kpmg. more likely kpmg

[littlemissmidget123]

(Original post by Regent)
Big 4?

huh?

[Txi]

(Original post by DerPumuckl)
You don't seem to understand the nuances between Agency, Flow and Prop trader. Even a bank with zero prop units, puts its own cash on the line via its Flow traders. Or do you think banks do flow credit without being long X billion?

LOL

you're talking to an ex banker, I've sat next to loads of MM's, ' flow ' traders and all the rest of the bogus titles.

you're just a student, haven't even spent a day as a ' trader ' yet , what do you know.

The bank puts some form of $ on the line - but the 64m $ question is whose ?

It seems ultimately it is it's customer and the taxpayer's who is forced to sponsor bank ' trading ' which is in reality losing.


CTA / MFT all the way !!!

[optioncameleon]

(Original post by Teenage Pirate)
1st year analyst @ Royal Bank of Scotland

livin' the dream

I hope you realize the 50,000 you get paid is all in comp, not base trolololololol

[optioncameleon]

By the way, speaking of highest paid jobs -for analyst intake Greenhill has one of the highest starting salaries at 60,000 GBP + discretionary from what I've heard.

[readyforresults]

[QUOTE=littlemissmidget123;374680 21]trading probably, but my dad seems to be doing fine as an accountant based in canary wharf

Hi, so are you looking to get into the banking world?

[readyforresults]

(Original post by littlemissmidget123)
yup - has been for 10 - 15 yrs i believe.. 2 of which were as a partner in the german part of the company

good stuff

[littlemissmidget123]

(Original post by readyforresults)
good stuff

deffo not.. ill leave that t my bro.. its more his thing.. ill stick with design

[Txi]

(Original post by Zalachenko)
Ex-banker? Is that why you're applying through UCAS? Looking for a new career?

Yes , that's right contrary to some people's myopic vision of the world not everyone want to lick the booties of the head treasurer at XYZ IB and IB is not the be all in finance, there are other roles.

[Zalachenko]

(Original post by Txi)
AH, you are so impressed , you are checking up on me ?

heel to your master.

Yes , that's right contrary to some people's myopic vision of the world not everyone want to lick the booties of the head treasurer at XYZ IB and IB is not the be all in finance, there are other roles.

I am indeed, your lack of knowledge and amazing academic background has left me stunned.

Who said anything about investment banking? But now that you mention it, sounds like you're another rejected candidate. Hate what you can't get huh? There definitely are other roles, you could look into retail banking? I've heard it's easier to get into.

[Txi]

(Original post by Zalachenko)
I am indeed, your lack of knowledge and amazing academic background has left me stunned.

Who said anything about investment banking? But now that you mention it, sounds like you're another rejected candidate. Hate what you can't get huh? There definitely are other roles, you could look into retail banking? I've heard it's easier to get into.

http://www.bbc.co.uk/news/business-18030022


Rakakakakaka !

How timely, perfect example of lousy bank traders !

The way they are going, even retail traders will beat them.

[i_hate_teeth]

I like how my on topic posts were deleted while the off topic posts were left untouched.

Mods need to get a life.

[TomasK]

(Original post by i_hate_teeth)
I like how my on topic posts were deleted while the off topic posts were left untouched.

Mods need to get a life.

Same goes to you as you seem to be overly worried about this.