54% return -- looking for an internship

Again, do you know how much an MBA can earn per year? how much can a good trader earn? How much can a trader earn with large fund under his management?

$60,000 is only average salary per year for an MBA. and the average salary along the coasts is higher than this. Don't you think I made a good investment? :D
 
Ok,

I'm not trying to put you down but your head is way up your ass from your paper trading accomplishment. You still fail to grasp the concept that paper trading is BS.

You know you think you so much smarter than everyone else here yet you are the poor inexperienced student that has never traded in real life while there are people on this forum that make a great living from trading stocks, futures and eminis.

If you think you did so great why don't you stop posting here, get a part time job, save up some money and start making money. I did that after I saw my wonderful 10% gains in one month on paper. Guess what? I lost almost half of it.

Honestly kids like you are a dime a dozen. My graduating class had a bunch of brilliant paper fund managers who thought they knew all about the market. Yet they are still living home with their parents.

Wake up. If you really think you got the skills, just save up a few grand and open a super mini fund of your own at a discount broker. Test your strategy in real life. No one who has ever traded real money will be impressed by a paper fund. But if you have a real record to back it up, that might catch some real interest.

Who knows if you are brilliant and are the next Peter Lynch. But you have no experience to back it up. If you are so damn smart, why are you so poor? And if your fund skills are so great, why do you want to work for someone else instead of making a ton of money for yourself. Think about that.

All of this was already stated by previous posters but you keep rejected it and reposting your accomplishments and strategies.
 
Quote from luojun:

At that time, I bought the stocks which I studied cases about them. :D Funny? These companies analyzed in class became my first targets. But you can see from my chart that I didn't beat the market. It stayed with the indices. But at that time, I found that NASDAQ was stronger than other two indices.

Just during the days American was going to declare war against Iraq, I found the whole market still went down. BUT you can see the performance of Yahoo, Amazon, and Ebay. So I thought what's behind the price? What will be after Ameircan wins this war?

I adjusted my portfolio, and increased the weight of these three stocks.

I believed in the capability of American army. Did you? :)
More...

Fundamental Analysis = FunnyMental ANALysis:D
 
No offense, but simply looking at your performance vs the broad indices... your performance (54% or whatever the number is) won't draw much attention.

Why?

Your fund is a low-alpha and high-beta performance. In other words, on a risk-adjusted basis, your performance falls short of "spectacular." Back in the heydays of the 90s, beta might mean something. But asset management is currently looking at ALPHA.

Thus logically: No asset management would - in their right mind - give your performance a second look.

Not trying to sound cynical but presenting the facts.

Goodluck

P.S. On your resume, you held the position of COO, Why give that up for trading???:confused:

On a technical note, you're NOT trading . You endeavor is more akin to asset management.
 
:)

I used stockcharts before. but i didn't use macd. it's just default configuration.

Mr. FishSauce:

I admit I am not a professional trader. What I know only is making money. :)

But I do want to know how you do to improve your alpha. It's not offense. I welcome any suggestions which can help me. Not what those sharks talking about. They are flies, disgusting.

I tried to make that dot com for profit, but finally the headquaters made it not for profit. :)

I think you might be right. My goal is to increase the asset. Maybe I misunderstand the meaning of trader. :) Anyway, do you think a trader is a necessary step to be an asset manager?
My English isn't good. :) If you have time, I hope we can keep in touch. I am willing to know anything about this market. Hope we can be friends. :)
 
Author Message
Mecro
Senior Member



Registered: Mar 2003
Posts: 137
Re: Regarding smth in your post
Oh well then it makes sense. I thought you guys were undergrads. Good luck to him, lots of money to be made in Moscow. At $9000 a month, he will live like a king. My dad is doing very well there. I'm already starting to invest there.

As for your post I gave another reply. You seem to refuse to accept what all the posters are telling you.
Academics mean squat when it comes to trading. The money markets are about human psychology, not book smarts. Look up Salomon Brothers in the 1980s and how their bond trading was the best by hiring guys without an education but street smarts.





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luojun wrote on 06-14-03 01:30 PM:
Do you think we're only out of school? We are professionals in each's field. If you read my homepage and see my resume, you can see how successful I was in China. I gave up those only for my hobby.

He has worked around the world for many years. I don't know what position he's offered. I heard this by his friend and a staff of my shcool. He's sponsored by his goverment to pursue MBA here. Do you think his goverment will waste its money on someone who is valueless?

All of us have at least five years experience before we come to business school. Average salary for MBA students from my school is $60k. and this salary is only in the mid-west. Those students employeed along the coasts can get $80k-$120k.

I can't give you his email unless I get his permission. Sorry.



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Mecro wrote on 06-14-03 12:21 PM:
What position is this for? And how experienced can he be if he is only right out of school. 100k right out of school is near impossible.
I would love to get more details or maybe his email or smth.




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luojun wrote on 06-14-03 01:09 AM:
He's not Russian. He's from Georgia, part of the former Soviet. He's very expeienced and got an offer from McKinsey.
Mecro wrote on 06-13-03 10:54 PM:
You stated

"You can't afford the living cost, it's your problem. It means you need work hard to make more profit. Many other companies are more generous than you, fortunately. As far as I know, my classmate got an offer $9000 per month to work in Russia."

Tell me more about this friend. I'm Russian, my dad lives in and is doing very well in Moscow but this $9000 per MONTH sounds very interesting but very hard to believe. $1000 per month in Moscow is a good life, $9000 sounds ridiculous. I'm interested.

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06-14-03 12:56 PM


Mr. Merco:

If you speak as what you said in the PM, I will not offend you. Look at your bullshits there.

Who told you I haven't traded before? During the seven years in China, I also surferred great loss sometimes.

I don't come here and say hey you guys are not better than me. What I want is only catch your eyes and let you know I am very interested in investment.

I am a student, and I am still learning. I am willing to spend all my time. My "prospective" boss asked me how long I can work a day. I told him maybe 18 hours. :)

Mr. FishSauce is correct. and he spent his precious time reading my resume. Did you?

Before I become a fund manager, I want to know what I should do, and what I should learn. Please give me suggestion, don't jump on me, Ok?
 
Quote from luojun:

Again, do you know how much an MBA can earn per year? how much can a good trader earn? How much can a trader earn with large fund under his management?

$60,000 is only average salary per year for an MBA. and the average salary along the coasts is higher than this. Don't you think I made a good investment? :D
More...

Dont' let people discourage you. At the large fund I worked with, typical MBAs that we hired as starting analyst or junior portfolio manager start out at $75K + yearend bonus, which could easily end up over $100K. Not bad for starting out and knowing NOTHING about the business.

In the institutional environment, you can climb up pretty fast if you are good. And soon you'll can get pretty decent six figures salary. More than most daytraders can make here regardless of they might say. And you get nice health insurance, benefits, etc. A lot of less pressure and stress. Yes, you can get laid off. But so what?! Many daytraders BLOW OUT their accounts too! That's the same thing as getting fired wouldn't u think? HAHA!

A lot of the smaller shops(small meaning less than $100M or less than $1B) are suffering and laying people off right and left. Because 1% mgmt fees of $100M is only $1M in revenus. Not enough to pay portfolio managers, analysts, traders and support staff. The fund I was with still have $40B so they are doing OK, but I doubt with little or no experience they will take a risk on you. Maybe at a very very entry jr level.


But you gotta remember, it's just salary and bonus. It's NOT performance based! So, even if the fund you help run was up 100% THE MOST you will just get is a nice bonus. One of the portfolio managers I knew who worked at our fund was up 499% in 1999. And the fund was maybe a $100M fund. I'm sure he didn't get that much pay. Probably half a million at most. I don't know. So, he was recruited the next year to work for a hedge fund.

After 5yrs in the institutional world, I said hell to it once I figured my own strategy. Now, I trade and potentially make MULTIPLES of what I made before if my strategy continues to work. That's the upside in prop trading. You can rake in a lot IF you really believe in your strategy and it works.

However, as a "beginner" you should start working at established place so you can have something to fall back. Like if I don't want to do prop tradingl, I can always go back and be fund manager or back to research.

And yes, fund management is TOTALLY different from trading. You have longer time horizon.

good luck! It's tought times nowadays. Unless you are really very "credentialed" or have a good trading strategy.

99
 
Well, a trader takes position (long/short securities) usually for less than a month, aka. short term profits.

Asset management on the other hand hold securities for longer periods.

To improve your alpha--> EXPERIENCE. There's quantitative methods for improving alpha, but none has show some consistency. IMO, discretionary/fundamental analysis is the only route.

Hope that helps.

P.S. Just PM (private message) if you have any question.

Quote from luojun:

:)

I used stockcharts before. but i didn't use macd. it's just default configuration.

Mr. FishSauce:

I admit I am not a professional trader. What I know only is making money. :)

But I do want to know how you do to improve your alpha. It's not offense. I welcome any suggestions which can help me. Not what those sharks talking about. They are flies, disgusting.

I tried to make that dot com for profit, but finally the headquaters made it not for profit. :)

I think you might be right. My goal is to increase the asset. Maybe I misunderstand the meaning of trader. :) Anyway, do you think a trader is a necessary step to be an asset manager?
My English isn't good. :) If you have time, I hope we can keep in touch. I am willing to know anything about this market. Hope we can be friends. :)
More...
 
With China becoming increasingly more prominent, Why not work in China?

With your credential (especially with an American degrre), you would be highly sought out. Firms like Goldman Sachs, are increasing their exposure in China.

You're probably demand a HIGHER salary in China than if you were in the States.


---My 2 cents.
 
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