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The trainee profiles at http://www.fnysllc.com/profiles.htm seem to show what FNYS means by "a proven track record of success" while still an undergraduate.

FNYS does state in its recruiting ads that it requires applicants to have "a proven track record of success in financial markets and trading." It appears that an applicant who does not meet this and other requirements is not hired by FNYS on any basis at all. This quote from...

I don't work at FNYS and I don't know anyone who does. My information comes from their web site and posts on ET and on thevault.com.

It appears that FNYS has a completely different business model from most other proprietary trading firms. 1. FNYS pays a salary and benefits; most others don't. 2. FNYS trains for 12-18 mos.; most others don't. 3. FNYS puts its capital at risk; most others don't. 4. FNYS keeps half the...

Mondo Trader: These are quotes from the First New York Securities website: http://www.fnysllc.com/training.htm Compensation and Benefits Annual Salary --$45,000 plus benefits Medical/Dental Insurance Coverage Life and Disability Insurance Coverage Retirement Planning/ 401K...

Ok, let's leave out the suggestion of GD2KNO for now. Does anyone else have any suggestions as to how they might invest a substantial amount of money? Possibilities might include: 1. A specific hedge fund. 2. A specific mutual fund. 3. A specific group of stocks. 4. A specific...

For someone with limited personal capital, trading for his own account may make sense as a way to make a living and hopefully amass capital for himself. But once one has amassed substantial capital, through trading or otherwise, it could be more fun to retire and pay a successful...

There seems to be some confusion on this point due to the fact that there are two types of prop trading firms. 1. Firms in which the capital being traded is entirely the firm's capital. An example is First New York Securities. This type firm obviously wants to maximize the profits...

I think that "Market outperform" means in its literal sense "this stock is expected to outperform the market". What the analyst really thinks and how the stock will actually perform may be different matters altogether.

What is the name of your firm? Does it require the trader to invest his/her own capital? If it has a training program, how long does it last and do they pay trainees while being trained? Do you know how much leverage it employs? What restrictions do they place on trader positions "to...

My view of our capitalistic system is that capital tends to flow into those areas seeming to offer the best returns in relationship to perceived risks of various possible investments. Proprietary trading firms presumably are no exception. If the owners do not anticipate receiving a return...

I will of course refer my friend to this thread for all these terrific comments. Thank you. I think it would be very hard to get audited financials for a private firm like this. Hopefully my friend would be able to contact some non-management employees to get more reliable info, although I...

Here are a question and answer from www.thevault.com: How much money does the average trader make for himself during his second year of trading at FNY? Answer posted by someone who seems to be a fny employee: $300K Maybe this person doesn't know or is deliberately misrepresenting, but...

A very bright, energetic, and disciplined young friend, who recently graduated from a top college, is considering applying for a job in proprietary trading with First New York Securities in New York. She has been successful in trading stocks for a stock market club. If hired, she...