The markets are getting whipped harder than Bruno at a swinger's party.
Thankfully my commodity positions are up. Currencies are not doing so well except long Yen - the scandis are killing me.
Personally I think this is the beginning of a big retracement. But then I made this call about 3 or 4 times already since April. Thankfully I didn't act on those gut feeling those times. I have more conviction though this time because my dad called me last week to ask what stocks to buy. He is the perfect contrarian indicator. hope he doesn't die on me soon. Be well pops-
What do you guys think? What are good trades to put on now - not last Friday? My firm overall isn't as well positioned if this downslide continues. Hope it doesn't folk up my bonus.
14 comments:
Bonus wise, maybe it is the right time to make a switch on the sell-side considering the crazy salaries given at Banks (at least in London)
You know, I went straight from MBA to buyside (everyone told me sellside sucks, hedge funds are the shiet). Talked to some trading desks but I figured why bother with that if I can go straight to hedge funds. That's like going straight from high school to NBA son! Baller shiet!
Now I am wiser to the world, I often wish I spent at least a year or two on the sellside to start out my finance career. I think you can ramp up on the basics of the markets much faster there, and it is a better place to network as personnel moves are more fluid and you just come into contact with more people. however, I also feel never having a sellside experience helps me form independent thoughts more easily.
It seems to me while buyside comp definitely has high upper end, median is still better at sellside. Job security is very iffy as an investor. And if you get flushed out after couple bad years where can you go? And least as a sellside trader you can make markets (if the market doesn't get regulated away).
Yeah, banksters gonna get paid out this year. This paycheck, they might really want to save away.
Rock out with my macro out,
I am down with you on that - good analysis. It is more rewarding (both financially and presonally) to seat on the buy-side. More risk I agree, but that's part of the charm! you guys hiring? ahahaha
LoveMe-
Man, I am just trying to hang onto my seat tooth and nail. I think the hedge fund industry continues to erode away - which I think it should. I actually like this stuff a lot and just want to keep doing it as long as I can. Hopefully big bucks would follow as a byproduct.
It's a bad time to lose a job now with all the spare people around. And most of these guys are no dummies.
The job market is the biggest concern I have. The financial markets - you can do fine regardless of direction.
HF industry: Survival of the fittest I guess
I lost my sell-side gig and I am now waiting on the bench. Those who are still on the roster are being offered ridiculous money. No matter if they played for The Memphis Grizzlies,lost all their games and scored 3pts per game for the last 5 years
LoveMe- were you on currency or fixed income side of things? Apparently vanilla rates and swaps guys in US are getting poached left and right. Exotics far less happening.
Sellside trading job market looks to me like professional sport coaching scene - get fired from one job and go to another team for often a raise. buyside is similar but to lesser extent i think.
The whole argument of "retaining talent" for bank bonuses make me laugh my arse off. But hey, get paid while/if you can. I am now old enough to not fight the system.
No, 80% of my background is in equity. But it is musical chair as well
Anyway, good blog - I'll keep following it
Thanks
Joke:
"What is the difference between a buy-side and a sell-side trader?"
"One says "fk you" and hangs up the phone - the other hangs up the phone and then says "fk you"
Sorry could not resist. Hope you are having a good day :)
I hears ya Nic!
I for one am willing to take some paycut to not be on the receiving end of "fck you." That's worth something to me.
there's gotta be other ways to make some money without subjecting yourself to that kind of bullshiet. Or you can just choose to live with less stuff.
Living with less stuff is very fashionable right now!
I'm trading for myself and have zero desire to change that any time soon.
nice one Nic!
A tour on your blog makes me think that you have found a nice equilibrium :)
Whats your blog Nic?
It's not one of those public blogs with witty market observations and clever stuff like you see here or at Macroman.
Its where I record my trades which are mostly FX.
It gets linked with my signature and I forgot to block it. I have unblocked it so it should link if you click Nic
who is that girl that whips bruno
Post a Comment