I would say you need to be able to show a very high level of resilience. He definatley does not want to hire someone to train up to be a trader, and then have them quit on him because they "cant make it".
Interview With Top Hedge Fund - Help!
- Thread starter AmyM
- Start date
I agree with the last few posts. It's not only about skills or saying the right thing. It takes a certain personality and/or mentality to become a speculator. Traders are not "normal" people. Even if you have what it takes, you also have to love it and desire it badly, otherwise you won't be able to withstand the work, the psychological and the physical punishment of trading.
I would not approach the interview with "I want to get the job" attitude, rather, let him tell you if you are trader material or not. It's not a job, where you go to the office 9-5 and then forget about it, it will become your life like it or not, it has to, in order to become successful.
Not everyone is succesful, so it's good you have some money to fall back on later if the trader gig doesn't work out well. On the other hand, I think you already have the disadvantage that you are not poor and hungry, so I'd ask first how happy you will be with something as hard and demanding as trading given that you have already some net worth. Then I'd ask about any personal previous trading experience because you already have had plenty of opportunities: some money, exposure to the markets through a software company, I think it's not a good thing you've been waiting all along for someone else to fund your trading or to tell you what to do in order to make money.
In my experience the first guys/girls to abandon trading aren't the least brilliant. It's usually those that get upset because they have sometimes to watch the markets overnight (position traders) or have to forget about lunches and other personal stuff during trading hours (daytraders), or not willing to work on research and other due diligence on nights and weekends. Then it follows those that get impatient about the learning curve, or take losses personally and so on ....
BTW I think you have an excellent background for investment banking, pity this is not the best time for that career.
I would not approach the interview with "I want to get the job" attitude, rather, let him tell you if you are trader material or not. It's not a job, where you go to the office 9-5 and then forget about it, it will become your life like it or not, it has to, in order to become successful.
Not everyone is succesful, so it's good you have some money to fall back on later if the trader gig doesn't work out well. On the other hand, I think you already have the disadvantage that you are not poor and hungry, so I'd ask first how happy you will be with something as hard and demanding as trading given that you have already some net worth. Then I'd ask about any personal previous trading experience because you already have had plenty of opportunities: some money, exposure to the markets through a software company, I think it's not a good thing you've been waiting all along for someone else to fund your trading or to tell you what to do in order to make money.
In my experience the first guys/girls to abandon trading aren't the least brilliant. It's usually those that get upset because they have sometimes to watch the markets overnight (position traders) or have to forget about lunches and other personal stuff during trading hours (daytraders), or not willing to work on research and other due diligence on nights and weekends. Then it follows those that get impatient about the learning curve, or take losses personally and so on ....
BTW I think you have an excellent background for investment banking, pity this is not the best time for that career.
Centaurus Advisors, L.P. is run and formed by ex-Enron traders & executives. First of all, you will not be going in there to trade like you think. These guys do not make trades without an edge. So if you are to become a trader, you will learn how they evaluate taking positions.
From what I know about them, they don't sit there and scalp energy futures, they take real bets and are heavily involved in the physical markets, often pursuing arbitrage and even forcing futures moves by playing with the physical markets.
The reality is that Enron traders & executives are scum. They made their money exploiting & manipulating. This did require clever thinking, a good deal of smarts & cooperation to keep their mouths shut. So you will need to exhibit the personality they look for. You have to show that you're smart, competent, hard working & will follow orders. You have to show that you will be a loyal part of the team, no matter what. I doubt these guys are looking for traders who they want to sit down and have them trade. They need reliable, trustworthy & tightlipped individuals who are the workers needed to expand operations.
I think your engineering background should be a plus. It sounds like the head trader interviewing you is interested in having you work on software models to scan & identify opportunities. Or have to do due diligence on logistics & operations behind their trading. Or execute trades which their model/strategy comes up with, which may become very involved if you're dealing with Nat. Gas transport.
But be careful about showing how much you "love" trading. It isn't possible to love it if you haven't even tried it for a while.
I just read in the news that John Arnold (the founder of Centaurus) wants to reign in the power of speculators and I remembered this thread.
http://online.wsj.com/article/SB124944248606306943.html (official article)
http://www.news-to-use.com/2009/08/two-traders-will-urge-changes-in-gas.html (full length article)
Anaconda, you are right about this company, they are absolute scum who haven't got over their Enron ways.
To the OP, if you ended up getting into this company, I suggest you start looking for the exits.
Here's my advice, based on my personal experience...
Place yourself in your prospective employer's shoes. The thing they want to see/hear from you is a specific UNIQUE characteristic/feature of your background/character that makes you the absolute best candidate for the job. Then they want to see exactly how it's relevant in their setting.
For example, saying that you love trading isn't a unique qualification. Your entrepreneurial experience and your blog probably taken together probably are. So your pitch should focus on these qualities of your background. It should also focus on what you can do for the fund with these unique things you bring to the table. Maybe you say that, because you're an entrepreneur, you see yourself helping them grow the business in new directions in the future, if they have an interest in something like that.
P.S.: I am a big fan of the blogosphere and prefer it a lot these days to mainstream news media. Would you be comfortable posting (or PMing) a link to your blog? It could be a good addition to my collection
.
Place yourself in your prospective employer's shoes. The thing they want to see/hear from you is a specific UNIQUE characteristic/feature of your background/character that makes you the absolute best candidate for the job. Then they want to see exactly how it's relevant in their setting.
For example, saying that you love trading isn't a unique qualification. Your entrepreneurial experience and your blog probably taken together probably are. So your pitch should focus on these qualities of your background. It should also focus on what you can do for the fund with these unique things you bring to the table. Maybe you say that, because you're an entrepreneur, you see yourself helping them grow the business in new directions in the future, if they have an interest in something like that.
P.S.: I am a big fan of the blogosphere and prefer it a lot these days to mainstream news media. Would you be comfortable posting (or PMing) a link to your blog? It could be a good addition to my collection
.To the last two posters:
Your advise would have been helpful to the OP 3 months ago. In the future you should pay attention to the dates on posts.
Your advise would have been helpful to the OP 3 months ago. In the future you should pay attention to the dates on posts.
Good point... My apologies for being so inattentive.
Still, would be interested to see the blog...