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Can you make massive money in investment banking? watch

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    [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.
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    [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.
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    (Original post by BarryBeTrippin)
    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.
    I do, and I also know that hedge funds are the vehicles by which stat arb strategies are employed. As I've said before, if you want to make big money as a quant move to a quant HF. Banks don't recognise or appreciate (at least in terms of compensation) quants as much as these places. I will reiterate, at an invesmtent bank quants are merely middle office support staff (harsh, but true). At quant hedge funds, their strategies are the source of alpha for the firm.

    Quants are worth more than investment bankers.
    Define 'worth'. To a bank, an investment banker brings in revenue and is thus, 'worth more' to them.

    They will not necessarily earn more, I never said that.
    Again, define 'worth'.

    I was contradicting your affirmation that they start with lower salaries, which is nonsense.
    Well, considering an IBD analyst is on nearly £120k as a third year (out of undergrad), when the quant (at a bank) starts at £60k + a small bonus after a PhD, it's pretty much true. Sure, if the quant starts at a hedge fund the starting pay and upside is far larger.

    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.
    Yep, never disputed this. Even then, bankers can easily move into private equity, fundamental hedge funds, corporate M&A teams, corporate strategy teams etc. Both have a modicum of optionality.

    Your response to this: "ahh phds r soo harrdd doe!!!"
    Well, yeah. Most people should NOT undergo a PhD solely to become a quant because they just won't last.

    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 is blatant sexism and largely nonsense.

    This person said that leverage will necessarily lead to losses in another thread.
    Hmm, so lemme guess, when you've hit your margin and the losses start piling up it all just goes away right? Definitely no risk there.. Please.


    Stick to going out with brokers and wooing employers, you do not understand the rigors of quantitative finance.
    Neither do you from the sounds of things

    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.
    I'll be starting a Maths and Computer Science degree this fall but cheers.
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    (Original post by BarryBeTrippin)
    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.
    And what is your depth Barry? What is your CV?

    I've still only ever held grad roles and earned as much as and more than my graduate colleagues. I have more on my CV than many of them including experience running a team of 8 and having my own junior, have a larger list of contacts and now am going to get my degree later on. As for you questioning my intellect, I'm a straight A student thanks.

    CV please.
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    [QUOTE=BarryBeTrippin;63417193]
    (Original post by leavingthecity)

    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.
    I repeat, good luck finding enough arbitrage ops to become a billionaire.

    Errrr, every minute of the day in a trading environment you are thinking about operational risk...you've never worked before have you?
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    (Original post by Princepieman)
    I do, and I also know that hedge funds are the vehicles by which stat arb strategies are employed. As I've said before, if you want to make big money as a quant move to a quant HF. Banks don't recognise or appreciate (at least in terms of compensation) quants as much as these places. I will reiterate, at an invesmtent bank quants are merely middle office support staff (harsh, but true). At quant hedge funds, their strategies are the source of alpha for the firm.
    Define 'worth'. To a bank, an investment banker brings in revenue and is thus, 'worth more' to them.
    What I meant was that quants are worth more in maintaining the fundamental structure of banks. I even said before that they aren't paid commensurately.

    That's why I was emphasizing their importance.

    Notice I didn't only mention banks, I went as far as mentioning insurance companies like AXA, with investment wings.


    (Original post by Princepieman)

    Well, considering an IBD analyst is on nearly £120k as a third year (out of undergrad), when the quant (at a bank) starts at £60k + a small bonus after a PhD, it's pretty much true. Sure, if the quant starts at a hedge fund the starting pay and upside is far larger.
    This is reasonable. I won't dispute this. It's just a matter of nuance now.

    (Original post by Princepieman)

    Well, yeah. Most peoppe should NOT undergo a PhD solely to become a quant because they just won't last.
    Well assuming they are interested in quantitative finance then why not? You'll have more transferable skills and you'll be less reliant on the job.

    This is not a case of mutual exclusivity.

    (Original post by Princepieman)



    This is blatant sexism and largely nonsense.

    Nope. She doesn't understand what an ECN is and affirmed that leveraged trading will necessarily leads to losses, which shows that she does not understand risk management, nor does she understand fractional reserve lending which is not so dissimilar to leveraged trading.

    (Original post by Princepieman)


    Hmm, so lemme guess, when you've hit your margin and the losses start piling up it all just goes away right? Definitely no risk there.. Please.
    You've never placed a trade in your life or you wouldn't write something so stupid.

    Should I discuss trading strategies with you in depth?

    Can you not think of way of controlling risk using stop losses and by proportioning your stake at certain % relative to wins and losses?

    Or are you not interested in considering this?

    Also, note "does not necessarily" doesn't mean "no risk"

    (Original post by Princepieman)




    Neither do you from the sounds of things
    I put my money where my mouth is. You haven't neither has she. I even referenced early 2000s subprime mortgage packages yet you two respond with anecdotes and generalities.

    (Original post by Princepieman)


    I'll be starting a Maths and Computer Science degree this fall but cheers.
    Then you'll struggle if you don't start employing reason.
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    [QUOTE=leavingthecity;63417529]
    (Original post by BarryBeTrippin)

    I repeat, good luck finding enough arbitrage ops to become a billionaire.

    Errrr, every minute of the day in a trading environment you are thinking about operational risk...you've never worked before have you?

    Again, lol.

    All price inefficiencies can be exploited to make money. There are millions of inefficiencies to exploit, it necessitates opening ones eyes.


    You moved the topic of the discussion. Operational risk was not what was being discussed, this is intellectual dishonesty.
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    (Original post by leavingthecity)
    And what is your depth Barry? What is your CV?

    I've still only ever held grad roles and earned as much as and more than my graduate colleagues. I have more on my CV than many of them including experience running a team of 8 and having my own junior, have a larger list of contacts and now am going to get my degree later on. As for you questioning my intellect, I'm a straight A student thanks.

    CV please.
    LOL A-levels, you're not convincing me at all.

    I could manufacture a CV right now, what would that prove?

    That's why I don't speak in anecdotes, but instead rely on facts and logic to form arguments.

    I am inclined to believe you, but I still don't understand how you don't know what an ECN is, and how you can believe leveraged trading holds some sort of constant negative expected value. It's baseless and an absurdity.

    And brokers can't **** you in ECNs!!! Leveraged trading reduces your exposure if you use it to its advantage, with necessary stop losses.

    Why is this hard to understand?

    If you don't understand this, then it really doesn't require much intelligence to work in a brokerage.
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    (Original post by BarryBeTrippin)
    Princepieman leavingthecity

    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.

    .
    At this point I couldn't take you any less seriously. Just speechless. Ok.
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    (Original post by leavingthecity)
    At this point I couldn't take you any less seriously. Just speechless. Ok.
    Still proving my point. You have no clue what an ECN is, so you don't understand how leverage can be used profitably. And I honestly don't see why someone would employe you from your intellectual dishonesty and lack of in depth understanding of basic things like ECNs and profitable leveraged trading.

    I am being sincere, though hyperbolic. I genuinely believe you are unskilled, and if you aren't lying altogether, it just shows me the extent to which appearance can get you places.
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    (Original post by BarryBeTrippin)
    LOL A-levels, you're not convincing me at all.

    I could manufacture a CV right now, what would that prove?

    That's why I don't speak in anecdotes, but instead rely on facts and logic to form arguments.

    I am inclined to believe you, but I still don't understand how you don't know what an ECN is, and how you can believe leveraged trading holds some sort of constant negative expected value. It's baseless and an absurdity.

    And brokers can't **** you in ECNs!!! Leveraged trading reduces your exposure if you use it to its advantage, with necessary stop losses.

    Why is this hard to understand?

    If you don't understand this, then it really doesn't require much intelligence to work in a brokerage.
    Calm down Barry, I have no issue with how ECNs work....
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    (Original post by BarryBeTrippin)
    Still proving my point. You have no clue what an ECN is, so you don't understand how leverage can be used profitably. And I honestly don't see why someone would employe you from your intellectual dishonesty and lack of in depth understanding of basic things like ECNs and profitable leveraged trading.

    I am being sincere, though hyperbolic. I genuinely believe you are unskilled, and if you aren't lying altogether, it just shows me the extent to which appearance can get you places.
    Of course leverage can be used profitably, they didn't invent it to make losses did they????

    Are you in the markets? Having a theory about how something should work is one thing but.....

    Please stop commenting on my appearance, it's rude and also a bit OTT, I'm nothing special Barry.
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    (Original post by leavingthecity)
    Of course leverage can be used profitably, they didn't invent it to make losses did they????

    Are you in the markets? Having a theory about how something should work is one thing but.....

    Please stop commenting on my appearance, it's rude and also a bit OTT, I'm nothing special Barry.
    I trade forex algorithmically on ECNs highly leveraged. I know my sh*t. That's why I hate generalization regarding that market. The opportunities are vast for those with a basic understanding of liquidity, game theory and market manipulation, and how other computer algorithms work and respond to stimuli, and where quotes come from.


    You may not be anything special but some men do fawn over all females. So I genuinely thought it may have been a factor.
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    (Original post by Princepieman)
    I do, and I also know that hedge funds are the vehicles by which stat arb strategies are employed. As I've said before, if you want to make big money as a quant move to a quant HF. Banks don't recognise or appreciate (at least in terms of compensation) quants as much as these places. I will reiterate, at an invesmtent bank quants are merely middle office support staff (harsh, but true). At quant hedge funds, their strategies are the source of alpha for the firm.



    Define 'worth'. To a bank, an investment banker brings in revenue and is thus, 'worth more' to them.



    Again, define 'worth'.



    Well, considering an IBD analyst is on nearly £120k as a third year (out of undergrad), when the quant (at a bank) starts at £60k + a small bonus after a PhD, it's pretty much true. Sure, if the quant starts at a hedge fund the starting pay and upside is far larger.



    Yep, never disputed this. Even then, bankers can easily move into private equity, fundamental hedge funds, corporate M&A teams, corporate strategy teams etc. Both have a modicum of optionality.



    Well, yeah. Most people should NOT undergo a PhD solely to become a quant because they just won't last.



    This is blatant sexism and largely nonsense.



    Hmm, so lemme guess, when you've hit your margin and the losses start piling up it all just goes away right? Definitely no risk there.. Please.




    Neither do you from the sounds of things



    I'll be starting a Maths and Computer Science degree this fall but cheers.
    https://m.youtube.com/watch?v=aZHvd0ks7Es
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    LOOOL
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    (Original post by BarryBeTrippin)
    I trade forex algorithmically on ECNs highly leveraged. I know my sh*t. That's why I hate generalization regarding that market. The opportunities are vast for those with a basic understanding of liquidity, game theory and market manipulation, and how other computer algorithms work and respond to stimuli, and where quotes come from.


    You may not be anything special but some men do fawn over all females. So I genuinely thought it may have been a factor.
    Are you a student?

    No, you don't know your **** until you've been some time in the markets, you may have done your research, you may be a smart kid, you may have your theories but being actually in the markets and the kind of participant that has the resources to make big money and navigating that is very different.

    I'm not disagreeing that it's a factor, just don't make such ridiculous sexist remarks about my intelligence along with it.
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    If i would like to go into IB/Trading. Which Course would be better please

    Maths with Econ

    Econ and Statistics

    Thanks
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    (Original post by Musicbox1)
    If i would like to go into IB/Trading. Which Course would be better please

    Maths with Econ

    Econ and Statistics

    Thanks
    Doesn't matter, both are good courses.

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    (Original post by Musicbox1)
    If i would like to go into IB/Trading. Which Course would be better please

    Maths with Econ

    Econ and Statistics

    Thanks
    They are both just as good. The university you do it at matters more. The first one has a higher maths content so might be useful if you are thinking of doing further study in something like financial mathematics and go into quantitative analyst/quant trader careers.
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    Instead of asking "Which course will get bankers to like me?"


    Ask yourself if you want to be like some of the idiots on this thread and then decide if its really worth it to be liked by bankers afterall.
 
 
 
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