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Steve Kaplan (UofChicago School of Business) certainly summarized it very well. His famous quote is "We are all Henry Kravis now". With the increasing corporate activism by hedge funds, I couldn't help but think that this will change the landscape of the private equity business. The line...

I guess I qualify, since I was on the institutional trading side before going off on my own. But I don't consider myself a "retail trader" (since I am a registered broker / dealer, just one that does no customer business, all proprietary, that's all). And other than a few people here on ET and...

I posted my copy of the Tabb Group's 2005 report on Institutional Equity Trading. Depends on what kind of position you will be interviewing for, if it is junior level, then the information should provide a decent background. However, if you are nterviewing to be a strategist, then probably...

CME sent out a bulletin busting all EMDM6 trades below 785.00 at 12:42:30 CT. So I guess it was an error trade. My orders wasn't affected, I didn't get in on those lucky buys. Heh.

FYI, Merrill is looking for a head trader in automated market making, basically setting up a new desk. I got contacted, and said no, Merrill frankly is about 3-5 years late to the game. I heard similar rumbles from DB...

The figures looks about right, but I think those are still figures from '05. The new hires in algorithmic trading in '06, at least the numbers I have heard, are on the higher end, between 650-900 or so (for a SVP or director level person). For a VP level algorithmic trading person, the numbers...

I was just look up a few hedge funds and their YTD returns. So I looked up Matador just out of curiosity. All returns are annualized: Feb-05: 5.86%, Recent Quater: 15.95%, YTD: 15.95% AUM: 287M

Interesting thread, there are a few more differences, I think. One, institutional prop desks have virtually no commissions (or transactional cost) to speak of, since all the trades are processed internally, usually the head of trading (in general) just get hit with a small internal transfer...

Again, introduction is the name of the game here. I am not a money manager (and don't intend to be in the near future), but the way that I know that would probably work would be link with private wealth management for a private bank, they tend to have contacts in the rural towns. As for...

7 pm, EST, at the Economic Club. Full calendar is here: http://www.federalreserve.gov/calendar.htm

At between 2-4M to 10M, a fund is in an interesting phase. The fund is not large enough to warrant the attention of a capital introduction service like ones in a large ibank. Like somebody else said in this thread, get introductions first, the money will more than likely coming from HNW...

I couldn't agree more. The funny thing about finance is that as much as people in finance like to think about they are doing complicated things, the technology aspect reluctant to adopt another that seems overly complicated. I still use the ASN.1 compiler in OpenSSL (formerly SSLeay) on...

Sigh, I guess everybody is entitled to create their own pseudo-compression routines. What about those of us that have zlib routines written in assembler? Being a former cryptographer, I keep on wondering why don't more people in the financial services business look at ASN.1 (using PER, for...

Hmm, I guess I have been busy trading so I missed this thread a bit. Somebody mentioned that institutions are trying to fit your fund / CTA into a "box", that's exactly what they do. And in a way, if you were in their shoes, managing a few billion, and only allocating maybe 1-4% of their...

Matador is Victor's fund. Roy's fund (RG Niederhoffer) didn't do nearly as well in '05. It is interesting that Matador is almost bigger than Roy's fund these days.

As of early 05 Victor was still accept new investments, I believe the minimum is $250k or so, and the management fee, if I remember correctly from the presentation, was 2.5/20.

I have not heard of Modulus, and I have been around CBOE for sometime. What you are looking for is a system that have interfaced directly with the CBOE Hybrid system, obviously a lot of trading firms have their direct feed (i.e., I would imagine InteractiveBrokers would use TimberHills feed)...

In my opinion, this is an attempt on Merc's part to reverse the decrease in NQ volume. ES volume is still growing month to month. NQ volume, on the other hand, has lost much to ER (and YM, I believe). So, Merc will probably not mess with a success (ES), but will tinker with NQ. Merc already...

As we are talking here today, Wall street is coming off a great '05, even better than the height of '99 at some levels. We are certainly not in a recession anymore. Also, "Monkey Business" was a long time ago (I think '97 or so). A first year analyst would make around 80-95k (depending on...

I doubt it (I am a Merc member). ES volume is still growing month to month. NQ volume, on the other hand, has lost much to ER (and YM, I believe). So, Merc will probably not mess with a success (ES), but will thinker with NQ to attempt to reverse the drop the volume. Merc already tried to...