A question for Bone & Rob Morse

[Robert Morse]

Not a bad starting point and - as you point out - available online.

Edgar database is not user friendly and most focus reports are very delayed. You won't see 2017 for a long time.

 

[ajacobson]

Got anything better ?
Walk to SEC office - if you are near one - the SROs collect them(at least when I worked at an SRO) and look at the trend for the firm you're interested in.
When I worked at an SRO most MM hated it when you said look at the focus reports.

 

[themickey]

I wish I could provide a statistical response. I just don't have that. All I can tell you is that If my daughter wanted to learn to trade, I would suggest she focus only on futures and options on futures.

• 1256 contract
• Leveraged without the need for a large account like PM
• No PDT
• Most symbols are not fragmented
• Trading almost 24 hours.
• Many products to choose from and most uncorrelated to equities.

Thanks Rob.
Your prefered selection has surprised me. Reasons being, I would have thought this method of 'employment' relates to high time consumption, energy and anxiety. The leverage can work for and against you, however on a experienced trader so long as they were very cautious with risk and very cautious not being accident prone it would benefit over the long run.
Being uncorrelated to equities, how does this benefit? Correlations I thought were a plus more so than being a negative?

 

[Robert Morse]

Anyone can be Long or short the “market”, that is easy. Most are long and/or have assets like their home that benefit from the market going up. Just a personal preference.

 

[ajacobson]

When your daughter is ready and looking for an internship - have her reach out. No NY office, but Chicago, London(for another couple of years) and Hong Kong middle of 2018.
ajacobson@exitosus.com - Chicago -right now is primarily a night desk.

 

[Robert Morse]

Thank you but it was just a reference. My daughter is married, 30years old with a 20 month old and works for JPM. Not in trading. I’m happy with her path.

Bob

 

[ajacobson]

You should be as proud as you sound.

 

[comagnum]

If you go by the current wealthiest 10 individual traders that made their fortunes in the market nearly all of them are long term portfolio investors. Most have a macro/discretionary approach - some are doing some swing trading. I think the only exception is James Simons which is a statistical arbitrage/quant - known to do some front running (latency edge).

 

[sle]

I think the only exception is James Simons which is a statistical arbitrage/quant - a front runner using the latency edge.

Nothing RenTech does is latency sensitive. It would be impossible to run the type of capital they are running.

 

[comagnum]

Just going by what info I found on Simons over the years.

http://www.businessinsider.com/best-hedge-funds-jim-simons-medallion-funds-returns-and-alpha-2011-1

http://infoproc.blogspot.com/2009/08/cost-of-liquidity.html