Compensation for traders at top firms?

Originally posted by nitro


I doubt it, at least not "naked" positions. These "firms" don't "trade," they are almost always playing one thing against another (a la LTCM.) If they are "building postions" as you say, they had better be doing it hedged against something else. Otherwise, why the hell do they need the quants? To tell them that the market is unpredictable once you get about ten minutes out?

nitro
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Take a look at CoT, OCC
They identify hedgers and speculators quite directly

Just because you have a phd does not mean you have an iq above room temperature (aka moronic Allan "have some more money" Greendick).

Working for a big house like JPM is great. Here you are the 'man', and have access to free money. Who needs a quant when you are the man? Just make sure you don't accpet too many stock options as part of a package.
How long now has the stock had to be rescued on a daily basis??
Sure it won't be allowed to fall over (because of the bed sharing it's had since 1895), but it's dow days are numbered.

Stupid morons colluding with criminals will impover the nation. You can't keep a country afloat with propaganda and manipulation.
 
Originally posted by sammybea

Don, a messgae to you. You are probably one the "brightest" guy on the board. You daytrading empire looks like a huge success. Most can only hope to get to your level. Please don't say there are possible legal issues with Hitman. It simply is not true.
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2 Things....First, Hitman...I was not trying to categorize any firm...just typing as names came to mind....and I think we are all proud of our firms, volume and all.
Secondly, about the legal issues, I am seriously trying to help here... the legal issues are real, and if I was vindictive, I would bait responses rather than suggest caution.

I just spent an evening with some of the "bigger boys" from SLK, and we chatted about all the firms (within the realm of propriety of course), and the view of the industry is changing more rapidly than I imagined....so let's keep helping it (the industry) grow....and one last thing for Hitman....give the NYC area a rest, we will keep a presence there, but we have all along felt that it is nice to bring trading to the people, wherever they are.....in the whole world.
 
Why would I trade in NY when I can live in Fl. with no state income taxes..............

For those of you who are overly cynical or just pretentious, open your mind and reconsider equity prop firms. You can live up north in the summer, and sunny Fl in the winter. YOu can take off a couple of months to travel whenever you want........... and above all keep the majority if not all of your profits.

Remember the world isn't flat, but most people used to think it was.......................

happy trading

:cool:
 
Don, being that you are from NV, are all trader's gains exempt from state and social security taxes, leaving the trader only paying federal taxes on his/her gains?
 
Originally posted by Vinny1
Don, being that you are from NV, are all trader's gains exempt from state and social security taxes, leaving the trader only paying federal taxes on his/her gains?
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It has nothing to do with Nevada, but traders do not pay SS tax. State taxes may apply if you trade in another state (none in NV).
 
Originally posted by Don Bright


It has nothing to do with Nevada, but traders do not pay SS tax. State taxes may apply.
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I was just asking if trader's gains are exempt from state taxes in NV, if you live in NV?
 
Originally posted by Vinny1


I was just asking if trader's gains are exempt from state taxes in NV, if you live in NV?
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Nevada has no state income tax (the gambling tourists are kind enough to pay it for us)....:)
 
Trader99,
Wall Street people sometimes like to believe the street is more of a meritocracy than it really is. A bright person, coming straight from b-school, might be hired at the salary level you indicate (without inside connections). However someone with many years of experience, a top education, and an excellent track record (without any connections) would never be offered any position at any salary level. Even if you offered to work for free, and they knew in their heart you could do a better job than the person in the position, they would just smile and say no thank you. Those top level positions, just like most CEO positions, have compensation schemes which are more about privilege than they are competitively determined.
 
Take a look at CoT, OCC
They identify hedgers and speculators quite directly
More...

Good point.

Just because you have a phd does not mean you have an iq above room temperature (aka moronic Allan "have some more money" Greendick).

Working for a big house like JPM is great. Here you are the 'man', and have access to free money. Who needs a quant when you are the man? Just make sure you don't accpet too many stock options as part of a package.
How long now has the stock had to be rescued on a daily basis??
Sure it won't be allowed to fall over (because of the bed sharing it's had since 1895), but it's dow days are numbered.

Stupid morons colluding with criminals will impover the nation. You can't keep a country afloat with propaganda and manipulation.
More...

:confused: What's your point?

nitro
 
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