Can you make massive money in investment banking?

john2054

I've never had any lessons or used any books, it just feels like it clashes with how I learn by ear. I learnt a bit of acoustic guitar but my main instrument is bass. I'm a big Chili Peppers fan and when I first heard Flea I was like... I want to do that! Do you own a piano?

Yes the Chilli Peppers, and flea and jon fruscanti are very good. Also dave grohl with the foo fighters, and nivana period rip. I don't own a piano, i use a free one in town. But I can't see someone learning how to play the piano without reading music? I could be wrong of course. Do you know any chords for the guitar?

Reply 221

username2385417

14

Original post by john2054

Yes the Chilli Peppers, and flea and jon fruscanti are very good. Also dave grohl with the foo fighters, and nivana period rip. I don't own a piano, i use a free one in town. But I can't see someone learning how to play the piano without reading music? I could be wrong of course. Do you know any chords for the guitar?

I don't even know where the notes are on any instrument! Likely cos I'm a bit dyslexic. I can play up to grade 8 on piano but you couldn't ask me to play a particular chord, I've just no formal learning at all!

Reply 222

john2054

6

Original post by leavingthecity

I don't even know where the notes are on any instrument! Likely cos I'm a bit dyslexic. I can play up to grade 8 on piano but you couldn't ask me to play a particular chord, I've just no formal learning at all!

Careful leaving the city, you can't play mozart (grade eight), if you can't read music. And you can't read music if you have no formal learning. You may well know more about managing money than me, but as far as music goes, best leave it to the professionals okay?

Reply 223

username2385417

14

Original post by john2054

Careful leaving the city, you can't play mozart (grade eight), if you can't read music. And you can't read music if you have no formal learning. You may well know more about managing money than me, but as far as music goes, best leave it to the professionals okay?

Haha I can! Well I could when I had my piano. I can play even more advanced stuff on the bass, I'm much better at bass BUT my fingers are piano fingers ie a bit dainty and I get really tired playing bass. I literally used to play till my fingers bled. I once gave myself a blister the size of A PEA on my little finger playing bass. Also just carrying it, it's weighty, I'd have to sit down after a while. Of course you can get super light ones but they are the very expensive ones, and they are easier on girly fingers too.

Reply 224

username738914

21

Original post by leavingthecity

Haha I can! Well I could when I had my piano. I can play even more advanced stuff on the bass, I'm much better at bass BUT my fingers are piano fingers ie a bit dainty and I get really tired playing bass. I literally used to play till my fingers bled. I once gave myself a blister the size of A PEA on my little finger playing bass. Also just carrying it, it's weighty, I'd have to sit down after a while. Of course you can get super light ones but they are the very expensive ones, and they are easier on girly fingers too.

Original post by john2054

Careful leaving the city, you can't play mozart (grade eight), if you can't read music. And you can't read music if you have no formal learning. You may well know more about managing money than me, but as far as music goes, best leave it to the professionals okay?

Guys, I'm going to have to lock this thread if it gets too off topic! You guys are free to PM tho :smile:

Posted from TSR Mobile

Reply 225

john2054

6

Original post by Princepieman

Guys, I'm going to have to lock this thread if it gets too off topic! You guys are free to PM tho :smile:

Posted from TSR Mobile

we'll only talk about investment banking from now on then. even though 'learning skills ergo music' is a subset of this. thanks

Reply 226

username2385417

14

Original post by Princepieman

Guys, I'm going to have to lock this thread if it gets too off topic! You guys are free to PM tho :smile:

Posted from TSR Mobile

Sorry! Will stop.

Reply 227

midgetspinner

18

Response on topic. I believe not anymore. The industry is over saturated and most people will remain VP's and not climb the ladder further. Unless you are a mega quant, with immense algos, otherwise you are looking at a comfortable/basic life due to the poor working hours in relation to the money you are paid.

(edited 8 years ago)

Reply 228

BarryBeTrippin

2

Original post by djibbo

Hahaha no it isn't, God you must be high on something. Bye.

Wrong. "Arbitrage". Hint: Insider trading (which is not completely illegal). That's one example. Another hint: Market manipulation (e.g. spoofing).

So many pseudos on this thread I could cook a tonne of meth.

(edited 8 years ago)

Reply 229

BarryBeTrippin

2

Original post by john2054

this is wrong. no investments come with *no* risk.

Your best investment with zero risk, is in yourself, your own human capital. And education. But even then there is a risk (that you will drop out?)

Better to get a credit card imho ( ;-) )

Wrong. Arbitrage.

Reply 230

john2054

6

Original post by BarryBeTrippin

Wrong. Arbitrage.

i was talking about investments available to you and me. the average man or woman on the streets, anyway.

Reply 231

BarryBeTrippin

2

@Princepieman @leavingthecity

Prince is an idiot, who does not understand the definition of statistical arbitrage, and instead of asking as someone who would be open to learn would, he would rather confirm his biases.

Quants are worth more than investment bankers.

They will not necessarily earn more, I never said that.

I was contradicting your affirmation that they start with lower salaries, which is nonsense.

Secondly, quant skills are more transferable than investment banking skills, and there's greater job security in quant jobs, simply for the fact that the pool is smaller due to Bachelor holders like you wanting a quick route.
This is an empirical fact.

Your response to this: "ahh phds r soo harrdd doe!!!"

Leavingthecity doesn't even understand ECN forex trading and basic risk management lol, she's not qualified to speak on matters beyond how a pretty female face and a thin body can help you find a job you're not qualified to hold.

This person said that leverage will necessarily lead to losses in another thread.

lol

Hint: Fractional reserve lending

Stick to going out with brokers and wooing employers, you do not understand the rigors of quantitative finance.

In addition, terms such as "delusions of grandeur" are fitting for humanities students like you two are. Empiricist concern themselves only with viability. Everything I hold as a goal can be implemented.

Though it would appear you have a distaste for reason.

(edited 8 years ago)

Reply 232

BarryBeTrippin

2

Original post by john2054

i was talking about investments available to you and me. the average man or woman on the streets, anyway.

Yes. Arbitrage. Research arbitrage betting for example, there are similar opportunities in financial markets. E.g. Option arbitrage.

Reply 233

BarryBeTrippin

2

Original post by glebp

Response on topic. I believe not anymore. The industry is over saturated and most people will remain VP's and not climb the ladder further. Unless you are a mega quant, with immense algos, otherwise you are looking at a comfortable/basic life due to the poor working hours in relation to the money you are paid.

Thank you! The voice of reason!

Goddamn this thread is infested with people who don't have the ability to employ reason!

Polytechnic students work in investment banking lol. Employers have a large pool to choose from, but magically wages will stay high because "IB is da best 111".

Quant jobs will remain lucrative and protected because, at present, less people are willing to undergo rigorous further study in quantitative fields.

Reply 234

BarryBeTrippin

2

Really, @Princepieman and @leavingthecity should refrain from advice on matters they do not understand. You have two people with a knowledge of finance jobs, but without an understanding of what truly yields profit in these industries.

What is a job?

Is a job not a part of a business?

What is the structure of that business and how do they make money?

You are not asking yourselves these questions, because you'd rather cultivate a culture of mundane pleberie.

If you want to be a middle class londoner fine, god speed.

But some people want to yield true wealth, which cannot be obtained slaving like a dog at a financial institution for crumbs.

Reply 235

BarryBeTrippin

2

Original post by leavingthecity

B*ll b*gs.

You cannot eliminate risk.

You actually need it to make money, you need someone on the other side of the trade![/QUOTE]

lol

So I send buy and sell quotes with sufficient spread so that I can hedge them with arbitrage as they get matched, yet somehow I am exposed to risk. Please stick to calling clients.

Reply 236

BarryBeTrippin

2

Original post by Princepieman

LOOOOOOOOOOOOOL

Ok, I'm fully done. Not listening to him anymore if that's his aspiration, delusions of grandeur anyone?

Posted from TSR Mobile

So malleable, I think this one is in love :colondollar:

Reply 237

BarryBeTrippin

2

[QUOTE=leavingthecity;63309183]You know, it was this type of arrogant boy that made me decide to go into finance. I wanted to prove their ignorance and was curious to see the reality vs the crap they were spouting.

You will only be proving your own ignorance. You're out of your depth.

This is the true reason why you're going back to school. You weren't educated enough to manoeuvre through a world driven by intellect.

This is the true reason why people your junior were leaping over you on the career ladder, not because of your sex.

Reply 238

username2385417

14

[QUOTE="BarryBeTrippin;63416931"]

Original post by leavingthecity

B*ll b*gs.

You cannot eliminate risk.

You actually need it to make money, you need someone on the other side of the trade![/QUOTE]

lol

So I send buy and sell quotes with sufficient spread so that I can hedge them with arbitrage as they get matched, yet somehow I am exposed to risk. Please stick to calling clients.

Heard of operational risk Barry?

Please post your CV and PnL for us to scrutinise.

Good luck with finding enough arbitrage opportunities to become a billionaire.

Reply 239

BarryBeTrippin

2

[QUOTE="leavingthecity;63417127"]

Original post by BarryBeTrippin

Heard of operational risk Barry?

Please post your CV and PnL for us to scrutinise.

Good luck with finding enough arbitrage opportunities to become a billionaire.

Any profitable business is making money from arbitrage. By definition.

Operational risk lol - you're really stretching now, just exposing the degree to which you're intellectually dishonest.

Can you make massive money in investment banking?

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