How to get Trading job at a Hedge Fund?

marketsurfer,

agree and disagree, the free market will follow the profits even if $40K/month infrastructure is not there. First develop a system, and trade it profitably and then ofcourse 'bullet proof' audit for like two years atleast.

money follows the profits like puppies. i have seen many instances where HF/CTAs with just one year real time real money track records have raised funds into 8 figures i.e. over 10Ms.

Then again who said you should have office in Manhattan and spend $10K a month on electronic data subscriptions and gadgets and $250/hour lawyer support.

One knew one guy who joined Merril Lynch as broker. They made him buy the latest model Lexus. I asked him did it help his business..........answer was 'nopes, but it did help him get lots of chicks'. Soon the Lexus on lease was not on his marketing strategy. :D
 
Quote from toc:

marketsurfer,

agree and disagree, the free market will follow the profits even if $40K/month infrastructure is not there. First develop a system, and trade it profitably and then ofcourse 'bullet proof' audit for like two years atleast.

money follows the profits like puppies. i have seen many instances where HF/CTAs with just one year real time real money track records have raised funds into 8 figures i.e. over 10Ms.

Then again who said you should have office in Manhattan and spend $10K a month on electronic data subscriptions and gadgets and $250/hour lawyer support.

One knew one guy who joined Merril Lynch as broker. They made him buy the latest model Lexus. I asked him did it help his business..........answer was 'nopes, but it did help him get lots of chicks'. Soon the Lexus on lease was not on his marketing strategy. :D
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thanks, toc.

however, i dont agree. institutions are WAY more concerned about the preservation of capital than the fast growth of same. extreme ramp up is viewed as a negative. yes, some high net worth individuals chase the hot hands of the moment, this is likely where your friends raised their money---not from institutions.

a lexus gets you chicks...... funny!!!!

best wishes,
surf
 
Quote from marketsurfer:

just as a note of interest---- anyone who believes they can raise ANY institutional funds without substantial infrastructure, pedigreed team, contingency support and finally a substantial track record with a bullet proof audit from a well respected firm is merely deluding themselves.

make sure you can carry 40k month, minimum expenses, to cover the above, for some time prior to even expecting an institution to look at you---track record will be the least of your worries.

regards,

surf


ps. think about it....everybody has a good track record, or they wouldn't think they could run a fund. its next to meaningless.
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These institutions should just invest their assets themselves; they don't need to give away 20% of their profits to a hedge fund. They can just buy index tracking stocks, hold for the long term, and beat most hedge fund's performance.

But since they do use hedge funds, my goal one day is to manage at least $1 billion, working from home in my Spiderman pajamas. I don't want to pay rent for overpriced NYC office space just to make the building owner rich and spend 1 hour commuting in rush hour traffic. The money that I save by not renting NYC office space, I can use that money to donate to help feed the poor and hungry people of Africa.
 
Quote from toc:


Computers are taking over our lives very fast! Soon surgeries might be performed by the computers, if they are not being already.

This sounds scary, but who knows WWIII might be fought between humans and computers...........do not want to be in that scenario! [/B]
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Surgeries are already being performed by robots. Check out ISRG, one of the fastest growing companies in the medical equipment space (Not surprising is it?).

http://www.fool.com/investing/general/2007/04/23/robust-returns-in-robotics.aspx

Also, NASA is planning a series of tests to check viability of robot-performed surgeries in space (controlled by humans on earth)!

Your worst fears probably coming true!

Regards,
Amar
 
If all the firms start using algorithms, are the days of the Trader over?


Quote from docamar:

Surgeries are already being performed by robots. Check out ISRG, one of the fastest growing companies in the medical equipment space (Not surprising is it?).

http://www.fool.com/investing/general/2007/04/23/robust-returns-in-robotics.aspx

Also, NASA is planning a series of tests to check viability of robot-performed surgeries in space (controlled by humans on earth)!

Your worst fears probably coming true!

Regards,
Amar
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Quote from midlifeguy:

We are going to a society of service sector (LOW PAYING) jobs. The middle class is cooked. I heard
in the paper here that 96% of College grads this year do not have a job lined up. Maybe other areas of the Country are booming but I don't see it. Yes, if you want a job, there are millions of Office Depot positions for you....or Sonic Burger.
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What are you smoking? There are plenty of good jobs out there. Look, I see your bag. You worked some corporate job, got laid off, tried your hand at trading, didn't make any money, now your falling back on your last hope, working for a hedge fund. LOL. Look, just because you're not hacking it, doesn't mean others aren't either.
 
Not true...I am actually paying bills with my trading.
I just am not crazy about the isolation, lack of benefits
and retirement. So you don't think Corporations have laid off or squeezed out people over the past 10 years?
They are begging for people? Do you know anyone in any HR department? They are so overloaded with resumes they don't know where to begin. Trading jobs
have disappeared like crazy. The buyside is going electronic and the sellside has been crushed by penny spreads. I think you are the one smoking crack.

Quote from Maverick74:

What are you smoking? There are plenty of good jobs out there. Look, I see your bag. You worked some corporate job, got laid off, tried your hand at trading, didn't make any money, now your falling back on your last hope, working for a hedge fund. LOL. Look, just because you're not hacking it, doesn't mean others aren't either.
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