Looking to hire a few traders...

[simpleplan]

Quote from trade-ya:

In other words, when I see a resume from someone who's last job was at Worldco, etc. I immediately throw it in the garbage. However, if I am looking at a resume from someone at a mainstream Fund, I take a second look.

Oh so that's how it works! Now I know why I never get replies from hedge funds...

(Note to self: Delete Worldco from resume.)

 

[trade-ya]

Thank you for your reply. I'm sorry that you are disturbed about my comment about edge. Frankly, it's all about the edge. If you have it, you are a guaranteed winner. If you dont, you are a guaranteed loser. Of course, the trick is in assessing who has a "legitimate edge" and who doesn't. Usually, the legitimate edges that exist, do so because the other side of the trade is not profit motivated (ie. hedgers in commodities, etc.). Other strategies such as the recently talked about Mutual Fund Timing, certainly have a tremendous edge of which guys made BILLIONS! over the last 5 years. Of course, it's going away, make hay while the sunshines. Strategies like Statistical Arbitrage, etc. capture a liquidity providing edge by facilitating large trades (mutual funds) to get into and out of big positions (slippage is the cost of doing business for many Mutual Funds), certainly IPOs were a TREMENDOUS edge. These are the types of businesses I want to be invested in. Not some gunslinger swinging them around based upon his opinions of where things are heading. Not an edge and not a viable business in the long-term.

 

[trade-ya]

We are not hurting by any stretch of the imagination. However, as a successful entrepreneur, one has to be creative and enterprising in running a business. Sorry you can't understand that. Hope Mickey D's is hiring these days.

 

[trade-ya]

Thank you for summing up the essence of the deal nice and concisely. I apprecaite it.

 

[easyrider]

I know, for a fact, that a lot of daytraders have an edge. Its just not transferable or quantifiable.

 

[trade-ya]

The answer to that question is the same as why anyone provides their services to any company. For extra pay and opportunity, duh.

 

[trade-ya]

If one cannot handle my money with the same care and discipline as they would handle their own, that person is not for me. In other words, if they are of the attitude, heads I win, tails you lose, that person is not for me. If that person does not have the skill to put aside their "fear" of losing weather it be my money or theirs, that person is not for me. Thanks for your response, nonetheless.

 

[trade-ya]

I would highly recommend that you replace Worldco with Enron, Worldcom, or any of the other major disasters. You would probably have a better shot at getting an interview. FYI, I'm not singling out Worldco, they are all roughly the same in the eyes of the Hedge Funds. Just Worldco seems to have a particularly bad reputation while First New York and possibily Schonfeld have a better reputation.

 

[trade-ya]

If this elusive edge that you speak about isn't transferrable (than I don't need it) or quantifiable, is it explainable? Can you just state in plan English what edge they may have? Simple question. Tough answer I'm sure. Thanks.

 

[Ebo]

Go back under your rock.