cool stories from a proprietary trading firm
- Thread starter 1a2b3cppp
- Start date
The hot shot traders eventually blow up. Happens to the best. The ones that know when to quit high risk hedge strategies and trade their own cap conservatively stay in the business.
The story about Bear Stearns collapsing is very good. There were actually well known people (Bill Miller etc.) bought into Bear Stearns when it tanked. Needless to say they ending up lossing their shirts.
Not to mention British billionaire Joe Lewis....
http://www.telegraph.co.uk/sport/fo...ams-Joe-Lewis-loses-900m-in-Bear-Stearns.html
Yes, please, I am totally blanking on the concept. If someone is doing work, they should get paid, regardless of the expectation experience they get out of it. Even summer interns who are pretty much useless get paid.
Do you know how much people would pay to be the secretary of Buffett for a month? Even just a dinner with him was auctioned for a bunch of money. ($2.7 mill this year) The point is, if the manager is a good money maker and it is possible to learn from him (a big if) I don't see why paying for the opportunity (some might call it a job) would be wrong or strange.
https://www.nytimes.com/2017/06/10/business/warren-buffett-dining-ebay.html
I don't think it's wrong, but I do think it's strange.
First of all, there is a big difference between grabbing dinner with a global superpower (Buffet, Gates, Obama or even Trump) and doing menial labor for a some unknown dude who's only claim to fame is his own website.
Secondly, people are not paying Buffet, they are paying some charity and none of the winners would really view it as "an investment". People donate bigger sums in a variety of ways.
Third of all, it's a self-reinforcing problem - people who actually know how to make money in the markets and need help with menial labour are not going to ask you for money.