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I think some of the replies are from people assuming that the prop firm you describe is really an "arcade" where you would contribute your own money. It doesn't sound like that's the case. Some of the firms in Chicago have great training etc for new grads. Don't expect to be a bigtime trader in...

This year I need to report accounts with RefcoFX and OANDA on my taxes. The OANDA is easy, since they send a 1099 for the interest, which I put on 8a of my 1040, and I calculate the gains and put them on my 6781. For RefcoFX, however, there is no 1099, and I paid some interest. Should I just...

It's next to a garbage dump that stinks like hell.

finance and comp sci is a great combo. also, the accy classes won't hurt if you have time for them - alot of types of OTC derivatives, for example, are heavily influenced by accounting issues. just depends on what type of trading you really want to go for.

trade wherever you have an edge... i enjoyed www.hedgestreet.com when i had a smaller account.

I like the suggestion for average investors to hedge, but the HF bashing is pretty typical of the mainstream media these days. Writing an article criticizing their fees is much easier than actually understanding the value HF's can provide (the good ones, at least).

It's definitely hard to find out about the smaller shops. Take a look at the larger prop firms like Jump, Infinium, Chicago Trading Company, DRW, etc. The smaller guys you'll just have to hear about via word of mouth - at least that was my experience when graduating earlier this year.

seems like the weather and economic number contracts are already covered on other exchanges, although i'm sure they have limited volume/liquidity will definitely be interesting...would not be surprised to see it be approved, since the CFTC already regulates HedgeStreet, which specializes in...

Yes - firms like GS have prop desks that trade for the firm's account in many different instruments, including equities. These desks are considered "buy side" even though they're at firms with sell-side desks as well. As for style...they do whatever they can to make a buck. And whatever...

Are there any regulations on how much exposure a credit card company can have? That's been a big driver behind the growth of MBS and credit derivative markets.

Sounds like you're looking for arbitrage opportunities, which would be buying a no-touch at the same level at a price that guaranteed a profit either way. Depending on which part of the risk you want to hedge, you can use a pricing model to quantify that risk and then perform other trades to...

Totally agree...only large strategy I've heard they've completely closed is converts. Still huge into options market making, etc, etc. And new funds are always being started by alumni from these flagships, esp Citadel as their deferred comp from the boom years has come rolling in.

Right, an entire asset class that's been around for 50 years will disappear because of a year of bad returns. There will be a shakeout of the weak funds...the ones who jumped on the bandwagon and didn't genuinely create alpha. So people like Soros and Ken Griffin didn't have talent? :confused:

The numbers in that article are actually understated. And 3 - 4 % loss for a large multi-strat fund on a single trade is definitely NOT normal or acceptable to investors.