assessment centre trading games?

gigio136

what are htey about?
anyone got some experience?

Reply 1

fuglyduckling

2

These are always LOADS of fun. I've done different ones - the best was probably at DB where we traded "metal" - some teams could mine it, some could process it into goods, and some could only trade the products. Other ones I've done - at UBS there were four boards in the corners of the room (Equities, Bonds, Gold etc) and a TV screen with incoming news in the centre. Citi we had a bottle of wine (covered so we didn't know the price) and we had to trade bottles of wine with each other - not knowing what the price would end up being but getting news updates every so often. Morgan Stanley has an awesome trading game - the most professional of the lot - where they set you up with computers and screens, with incoming news broadcasts and a decent variety of products to buy/sell. VERY COOL. Portfolio in Peril, I think it was called.

One thing to watch out for: make sure you trade in the same direction that other people do. A lot of the people there don't have a clue so this won't necessarily be the direction you automatically think. For example, at UBS - news came in that interest rates had been hiked so I immediately thought . . bonds will drop . . I'll get rid of my holdings before the others catch on (prices were determined by how many people bought or sold - not the news per se) but annoyingly people misinterpreted this and thought this news meant bonds would go up . . . so they bought loads . . . which DID force the price up and meant I lost out. Obviously this wouldn't happen in real life and perhaps the people at your AC will be a little more into it but just keep an eye out for this!

Reply 2

BobbyD

fuglyduckling

These are always LOADS of fun. I've done different ones - the best was probably at DB where we traded "metal" - some teams could mine it, some could process it into goods, and some could only trade the products. Other ones I've done - at UBS there were four boards in the corners of the room (Equities, Bonds, Gold etc) and a TV screen with incoming news in the centre. Citi we had a bottle of wine (covered so we didn't know the price) and we had to trade bottles of wine with each other - not knowing what the price would end up being but getting news updates every so often. Morgan Stanley has an awesome trading game - the most professional of the lot - where they set you up with computers and screens, with incoming news broadcasts and a decent variety of products to buy/sell. VERY COOL. Portfolio in Peril, I think it was called.

One thing to watch out for: make sure you trade in the same direction that other people do. A lot of the people there don't have a clue so this won't necessarily be the direction you automatically think. For example, at UBS - news came in that interest rates had been hiked so I immediately thought . . bonds will drop . . I'll get rid of my holdings before the others catch on (prices were determined by how many people bought or sold - not the news per se) but annoyingly people misinterpreted this and thought this news meant bonds would go up . . . so they bought loads . . . which DID force the price up and meant I lost out. Obviously this wouldn't happen in real life and perhaps the people at your AC will be a little more into it but just keep an eye out for this!

These are not assessment centre trading games if I guess correctly, but spring insights???

I recall Merrill Lynch AC trading game:

played with a game of cards numbered from 1 to 14 in groups of 5 people...cant remember how to play it, although I do remember I found it really easy.

Reply 3

XIII

Ah... i remember the DB one :biggrin:

don't think it's a test exactly though seeing as i wasn't even applying for a job when i did it there (i'm not even at uni yet)... good fun though - was on a banking team and we destroyed our opposition :wink:

apparantly we did quite well making a profit seeing as supposedly most banking teams end up bankrupt

Reply 4

Another One

7

Quoting from another forum, but this is the crux:

"Generate a large random sequence of numbers with a given probability distribution that is well understood.

Perform arithmetic functions on the numbers. Distribute the numbers (and even the functions) across the group to create asymmetric information.

Go trade (information) by acting on the forward price or options on the 'number' given by the distribution and functions."

Reply 5

fuglyduckling

2

Ah, apologies - these were Easter trading games. Same name, slightly different concept. Although the AC games sound fun as well.

Reply 6

President_Ben

15

IBD Losers

Quoting from another forum, but this is the crux:

"Generate a large random sequence of numbers with a given probability distribution that is well understood.

Perform arithmetic functions on the numbers. Distribute the numbers (and even the functions) across the group to create asymmetric information.

Go trade (information) by acting on the forward price or options on the 'number' given by the distribution and functions."

Everyone go download riskmanager by Chisholm Roth. I've no business relationship to them, but they do produce a solid trading simulator that is actually trading. None of this wannabe asset management BS run by whothehellcares because they makenomoney on somewebsite.what

You can even just go play poker and with a careful mind analysing what you've done, it's fine.

Reply 7

Don Mayhs

any links to trading games?

assessment centre trading games?

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