Any firms hiring with no capital contribution

spyderman · Dec 1, 2003

everytime I talk to someone at Schonfeld it seems they are getting smaller. They were my suggestion to you, but I thought you had more experience....as far as I know that is what they want now, but who knows...give it a shot.. They are in NY and Boca raton fla.....

this is a tough envioronment....if you don't have the $$ to trade you have to bring something to the table or find someone to work fork who will give you a start.

nuton · Dec 1, 2003

thanks

Don Bright · Dec 1, 2003

We take on a few college MBA types here in Vegas (during their last year of school)...and if they show promise will keep them on with no capital contribution.

The employee type trading model has proven (many times) to not work for the trader or the Firm.

What business can you start with no money? Heck it takes 6 figures to buy some silly sandwich franchise (and that money is gone immediately)....

Experienced traders usually have some capital, college students usually don't ...that's the way we look at it (there are some variables involved).

Don

Durango Kid · Dec 1, 2003

If so...

I believe Zone Trading is hiring. They don't require a capital contribution.

www.zonetrading.com

Ebo · Dec 1, 2003

Do you trade on the Zone Diet?

http://www.zoneperfect.com/site/content/index.asp

Durango Kid · Dec 1, 2003

No, but I was just looking at a picture of myself from a couple of years ago and I definitely need to lose some weight!

daytraderpete · Dec 1, 2003

Quote from Don Bright:

The employee type trading model has proven (many times) to not work for the trader or the Firm.

What business can you start with no money? Heck it takes 6 figures to buy some silly sandwich franchise (and that money is gone immediately)....

Don [/B]

Very well said Don.

DTP

esc_trader · Dec 1, 2003

Quote from Don Bright:

We take on a few college MBA types here in Vegas (during their last year of school)...and if they show promise will keep them on with no capital contribution.

Don

What does an MBA have to do with trading? Why would anyone who wanted to trade for a living waste time getting an MBA?

Why would someone with an MBA be any less risk to the firm and justify no contribution? Why would a trading firm be even remotely interested in someone who had an MBA?

I Missed Boat · Dec 1, 2003

Quote from esc_trader:

What does an MBA have to do with trading? Why would anyone who wanted to trade for a living waste time getting an MBA?

Why would someone with an MBA be any less risk to the firm and justify no contribution? Why would a trading firm be even remotely interested in someone who had an MBA?

You are actually extremely right. I've seen terrible traders with MBAs, MDs, Phds, etc. I've seen great traders who never even finished college (and obviously there have been great ones who never even went). Trading now is tough for almost everyone though.

chasinfla · Dec 2, 2003

if you search ET for "Geduld" you will find an article about Buzzy Geduld, who sold his firm, Herzog, Heine, and Geduld, to Merril Lynch for $900 million in 2000 or thereabouts.

Prior to starting one of the largest OTC market makers, he ran a donut shop.

Most of the people whose vision and cajones built wall street couldn't get hired at their own firms today, for lack of 'credentials.'

but vision and cojones are still credentials enough build your own thing and then sell it to a bunch of MBA's at the top of the market.

What a trade!