SEASON 2, thursday TV WALLSTREET WARRIORS

[Hydroblunt]

Quote from Triple X:

Well, I would expect a 28 year old making bags of money to have a Ferrari and limo's, so we have a difference of opinion. That shows confidence to me, that he is sure things will continue going well. He did seem like a bright person, and obviously impressed someone at SSB; most of these hedge fund guys seem to start off with investments from their former employers.

Also, the show states he has 100's of millions under management. Even if it's only 100 million, and assuming he makes 0% ROI (improbable). That is still 2 million a year. A ferrari costs 150K

I don't know if the Ferrarri is his or he leased or expensed it on the fund or whatever. It's not clear at all. It goes to show that he feels like he has to show off. The real stars of the industry keep out of the limelight and avoid extravagance. That's confidence in self, no need to shout to everyone about your greatness. It is also a quality a savvy investor seeks, they don't expect their money to be spent lavishly and hence take note of that characteristic.

The show states he has over 100 million, so basically like 110 million is what he has. The 2% fee does not go into his pocket, it is meant for expenses. Legal & accounting eat up a lot. He definitely takes a salary, my guess is mid six figures.

And finally, being an analyst at an investment bank for a year just means that you were just another grunt at the bottom of the IB ladder. You do not get to meet any investors, especially your first year. Like I said, it is very intriguing that some guy who did I-banking for a year and then quit (IB entry level contracts are 2-3 years) somehow started his own private equity fund. Considering how obsessed the money management industry is with credentials I have to wonder just exactly how he got his foot in the door, especially with a very generic and bland concept. And once he did, I saw nothing interesting about him that would keep anyone's attention. You have to realize just how competitive the industry is.

Don't forget, it's not real life, it's TV. The show has already established itself to be a joke. Think critically, even if you lack the industry knowledge, use common sense. If you are a serious investor or a Fund of Funds manager, why would give this guy even 5 minutes of your time? His concept is what every other small venture capital/private equity firm is doing. His credentials are replicated every year by 50% of the new I-banking recruits. And there has been zero mention just how exactly he got started off managing money, which I find most peculiar, because anyone with a very unorthodox entry into an esoteric field like private equity would LOVE to tell others about how he did it.

 

[wall30]

Some info on Brett A Hickey
http://www.aegiscapitalgroup.com/team.php?teamID=1&v=f

Mr. Hickey is a Co-Founder and Managing Partner of Aegis Capital Group LLC

Prior to co-founding Aegis Capital Group in 2003, Mr. Hickey was an investment banker with the Insurance and Asset Management division of Citigroup Global Markets, Inc

Select Investment Banking Transaction Experience:

$16.1 billion reverse triangle merger of The St. Paul Companies, Inc., Nuveen and Travelers Property Casualty Corp
$1.4 billion 5, 10 and 30 year note offerings for Travelers Property Casualty Corp
$1.3 billion initial public offering for Eaton Vance Tax-Advantage Dividend Income
$1.2 billion follow-on common equity offering for The Hartford Financial Services Group, Ltd.
$1.1 billion municipal bond trust offerings for BlackRock in 3 state tax advantage funds and one national fund including greenshoe and follow-on preferred share offerings
$1.0 billion 10 and 30 year senior note offerings for Prudential Financial, Inc
$600 million mandatory convertible equity units offering for The Hartford Financial Services Group, Ltd.
$369 million initial public offering for Franklin-Templeton Limited Duration Income Trust
$287 million in auction rate preferred funds for Neuberger Berman in New York, California and National fund offerings
$281 million initial public offering for Nuveen Diversified Dividend & Income Fund
$151 million common equity offering for W.R. Berkley
$150 million series F trust preferred securities offering for Lincoln National Corporation
$100 million series B preference shares offering for Renaissance Holdings Ltd.

 

[marketsurfer]

Quote from Hydroblunt:

I don't know if the Ferrarri is his or he leased or expensed it on the fund or whatever. It's not clear at all. It goes to show that he feels like he has to show off. The real stars of the industry keep out of the limelight and avoid extravagance. That's confidence in self, no need to shout to everyone about your greatness. It is also a quality a savvy investor seeks, they don't expect their money to be spent lavishly and hence take note of that characteristic.



.

i guess sac with the art and houses isn't a star of industry--or countless others who enjoy the fruits of their labor are shunned by savvy investors.


savvy investors seek strategies that make sense, returns and relative safety of funds.....nothing more, nothing less.

 

[bathrobe]

Quote from Hydroblunt:

I don't know if the Ferrarri is his or he leased or expensed it on the fund or whatever. It's not clear at all. It goes to show that he feels like he has to show off. The real stars of the industry keep out of the limelight and avoid extravagance. That's confidence in self, no need to shout to everyone about your greatness. It is also a quality a savvy investor seeks, they don't expect their money to be spent lavishly and hence take note of that characteristic.

Many of the top earners do not show off with cars, jewelry whatever. Eddie Lampert was kidnapped years ago and although he talked himself out of it the situation could have ended badly. My father traded commodities in the 70's retired at 29 and will only drive 10 year old cars, fake watches and old tshirts. The world is full of fake rich people (especially Scottsdale, Arizona, home of the 30k millionaire) For anyone who has drove or been a passenger in a Ferrari you know it is uncomfortable and helicoptors are scary as hell, they constantly feel like they are uncontrollable. off track, but my two cents.

Thanks for the video of cramer. I have never seen him as calm as when he was talking of Iomega

 

[Triple X]

Quote from wall30:

Some info on Brett A Hickey
http://www.aegiscapitalgroup.com/team.php?teamID=1&v=f

Mr. Hickey is a Co-Founder and Managing Partner of Aegis Capital Group LLC

Prior to co-founding Aegis Capital Group in 2003, Mr. Hickey was an investment banker with the Insurance and Asset Management division of Citigroup Global Markets, Inc

Select Investment Banking Transaction Experience:

$16.1 billion reverse triangle merger of The St. Paul Companies, Inc., Nuveen and Travelers Property Casualty Corp
$1.4 billion 5, 10 and 30 year note offerings for Travelers Property Casualty Corp
$1.3 billion initial public offering for Eaton Vance Tax-Advantage Dividend Income
$1.2 billion follow-on common equity offering for The Hartford Financial Services Group, Ltd.
$1.1 billion municipal bond trust offerings for BlackRock in 3 state tax advantage funds and one national fund including greenshoe and follow-on preferred share offerings
$1.0 billion 10 and 30 year senior note offerings for Prudential Financial, Inc
$600 million mandatory convertible equity units offering for The Hartford Financial Services Group, Ltd.
$369 million initial public offering for Franklin-Templeton Limited Duration Income Trust
$287 million in auction rate preferred funds for Neuberger Berman in New York, California and National fund offerings
$281 million initial public offering for Nuveen Diversified Dividend & Income Fund
$151 million common equity offering for W.R. Berkley
$150 million series F trust preferred securities offering for Lincoln National Corporation
$100 million series B preference shares offering for Renaissance Holdings Ltd.

So Apparently, the Ferrari is his. Sounds like he could afford a new one every year. Sounds like he could afford to buy the chopper too.

Let's not hate on a REAL player.

 

[bathrobe]

Info on Mr. Hickey is very impressive, he seems extremely bright and is obviously quite successful. I am also 28 and find his story truly inspiring. A PE fund at 28 is unbelievable.

 

[El OchoCinco]

Quote from wall30:

Some info on Brett A Hickey
http://www.aegiscapitalgroup.com/team.php?teamID=1&v=f

Mr. Hickey is a Co-Founder and Managing Partner of Aegis Capital Group LLC

Prior to co-founding Aegis Capital Group in 2003, Mr. Hickey was an investment banker with the Insurance and Asset Management division of Citigroup Global Markets, Inc

Select Investment Banking Transaction Experience:

$16.1 billion reverse triangle merger of The St. Paul Companies, Inc., Nuveen and Travelers Property Casualty Corp
$1.4 billion 5, 10 and 30 year note offerings for Travelers Property Casualty Corp
$1.3 billion initial public offering for Eaton Vance Tax-Advantage Dividend Income
$1.2 billion follow-on common equity offering for The Hartford Financial Services Group, Ltd.
$1.1 billion municipal bond trust offerings for BlackRock in 3 state tax advantage funds and one national fund including greenshoe and follow-on preferred share offerings
$1.0 billion 10 and 30 year senior note offerings for Prudential Financial, Inc
$600 million mandatory convertible equity units offering for The Hartford Financial Services Group, Ltd.
$369 million initial public offering for Franklin-Templeton Limited Duration Income Trust
$287 million in auction rate preferred funds for Neuberger Berman in New York, California and National fund offerings
$281 million initial public offering for Nuveen Diversified Dividend & Income Fund
$151 million common equity offering for W.R. Berkley
$150 million series F trust preferred securities offering for Lincoln National Corporation
$100 million series B preference shares offering for Renaissance Holdings Ltd.

Lets not forget that most private equity funds put like 20% down in an investment and leverage/borrow the rest. So with $100,000,000 in equity he could have a couple of billion in assets and a couple hundred basis points on that means a Ferrari is like you and I buying a flat screen TV. Especially if he has had this fund for a couple of years. Still hard to beleive he could have done this on his own so we all probably are not hearing about the silent partner/initial backer that got him started. Still pretty sweet.

 

[2ez]

Quote from bathrobe:

Many of the top earners do not show off with cars, jewelry whatever. Eddie Lampert was kidnapped years ago and although he talked himself out of it the situation could have ended badly. My father traded commodities in the 70's retired at 29 and will only drive 10 year old cars, fake watches and old tshirts. The world is full of fake rich people (especially Scottsdale, Arizona, home of the 30k millionaire) For anyone who has drove or been a passenger in a Ferrari you know it is uncomfortable and helicoptors are scary as hell, they constantly feel like they are uncontrollable. off track, but my two cents.

Thanks for the video of cramer. I have never seen him as calm as when he was talking of Iomega

I agree......my mentor has $700mil+ under management and he drives a Nissan Maxima, Suits from outlets or Syms..but has a Huge home. 41yrs old, Wharton MBA....but he never talks the pompous crap you hear a lot of others do. IMO it's best to be a quiet storm and let your performance do all the talking.

 

[Canados]

Quote from smbcapital:

Our Head Trader, GMan (Columbia Engineering), just sent me the link to the posts about SMB Capital. While I found some of what was written highly entertaining, I thought I should clarify a few things:

1) Laetitia interviewed for a job with SMB Capital for which she was not required to make a contribution. Recent college graduates are not required to make a contribution at SMB Capital. And for the others who do make a contribution so that they receive 100 percent of their profits after fees, SMB Capital offers downside protection. In short, we do not make money unless our traders make money.

2) We are very selective in whom we hire. We spend a great deal of time training our new traders. Day trading is very challenging. We are looking for only those who have an excellent chance of succeeding.

3) My partner and I (Wharton/Fordham Law, UConn Law) have spent the past two years, along with our Head Trader and Senior Traders building an extensive, demanding and thoughtful training program. For those who receive an invitation to interview with us we show you exactly what we teach our new traders. Our training program consists of 150 plus written lectures, audio lectures, a library of trading videos, and that is all supplemented with our Real Time Audio Feed. We offer Mentorship from professional traders with collectively over 20 plus years of experience. For five weeks every second of every day has been planned so that you are armed with the trading skills and a trading system necessary to succeed. Succinctly, our training program provides you with an edge in today's market.

4) I am not an expert about all the other day trading desks on the Street in NYC, but I do know that there are many excellent trading desks where one can start their career. Respectfully, we are one of them. Others in NYC are Chimera, T3, Trillium, First New York, Avatar. I am sure I have left a few out but this is only because I am not familiar with all the groups. The good groups will do whatever they can to help their new traders succeed- whether financially or with their time. SMB Capital certainly does.

5) I have never heard us referred to as rude. But I do think that after having met with thousands of candidates that some would not respond favorably to us. And at times, we are very busy such that we do not get to spend as much time as we would like with certain interviewees. For that I certainly apologize.

6) My partner and I have traded for the past twenty plus years collectively. We are the most active traders on our desk. Anecdotally, my partner made over 20k trading in the last four trading sessions (and he is not going to be very happy about me writing that). We are experienced, active, professional traders.

7) Since there are many excellent trading desks, please shop around. Make your own judgment about who would be the best fit for you.

8) "Wall Street Warriors" is a great show. We are proud to have played a small part on Season Two. Keep watching. It only gets better.


Mike Bellafiore
SMB Capital, LLC
Partner

Hi,
is it possible to know what books you give the new students to learn trading?
thanks a lot

 

[Joab]

Quote from 2ez:

I agree......my mentor has $700mil+ under management and he drives a Nissan Maxima, Suits from outlets or Syms..but has a Huge home. 41yrs old, Wharton MBA....but he never talks the pompous crap you hear a lot of others do. IMO it's best to be a quiet storm and let your performance do all the talking.

In Canada being rich and being humble is the norm.

America is all about the bling and people tend to define themselves more by their wealth.