SEASON 2, thursday TV WALLSTREET WARRIORS

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
More...


Just out of curiousity have any of the ''Partners'' or ''Senior Traders'' worked for a real hedge fund or investment bank? I would like to know their work experience, because unless they were with a hedge fund, principal market making firm or investment bank I cannot take this seriously.
 
Just thought I should throw some of my findings out here...

Since everybody and their mum have a profile online these days I tried to find out some more about Laetitia and if she succeeded at that prop shop.

Doing a quick google on "Laetitia" "SMB Capital" Trader and "New York" the following MySpace profile popped up:

http://profile.myspace.com/index.cfm?fuseaction=user.viewprofile&friendid=66069011

It seems like this Syracuse graduate is currently a trader at SMB Capital. If you scroll down the page to his commentaries you find a comment by a person named "Laetitia" who says:

<i>yoooo! whats up ? long long time ! how u been ? hows life treatin you ? so did you find a place in dirty jerz ??? haha anyways hope things are good. <b>im done with the show, tryin to figure out the next move...</b>la bla bla, you know how it goes. anyways let me know how you're doing :) </i>

This was October 23 2007. If I remember correctly the acceptance e-mail she got was dated June 1.

If the scentence "<i><b>im done with the show, tryin to figure out the next move...</b></i>" means that she quit the shop, she lasted less that 5 months.

You could check out her MySpace page by yourself.

http://profile.myspace.com/index.cfm?fuseaction=user.viewprofile&friendid=46586347

Let me just say that I am not 100% sure that this Laetitia person is the same as the WSW one, but I'm pretty confident that it is her. :)

I've been trying to figure out her surname, but haven't been successful in that. In the prop shop interview she said her name was Laetitia Laroque... Le Roque... Leroix... I don't know. Can't seem to figure it out. :)

Well, that's all. Looking forward to see how she does in the coming episodes...

Regards,
Curious George :)
 
Quote from sakimonohito:

speaking of open outcry. anyone have a link to the pbs documentary in torrent format? tia
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I have it on VHS...i lent it to my neighbor...if I can get it back you can have it. Just pay the shipping and if you want to slip a $5 bill in to buy me a beer it's all yours.
 
Quote from uptik2000:

I have it on VHS...i lent it to my neighbor...if I can get it back you can have it. Just pay the shipping and if you want to slip a $5 bill in to buy me a beer it's all yours.
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VHS?? Is it really that old?
 
i cannot believe these guys held onto SNDK FOR SO LONG. IT JUST GOES TO SHOW HOW A BAD INVESTMENT TURNS INTO A MARRIAGE(YOU MARRY THE STOCK) AND TRY AND CONVINCE YOURSELF YOU MADE THE RIGHT DECISION WHEN ITS QUITE OBVIOUS YOU DID'NT.
 
Quote from uptik2000:

I have it on VHS...i lent it to my neighbor...if I can get it back you can have it. Just pay the shipping and if you want to slip a $5 bill in to buy me a beer it's all yours.
More...

$5 will only buy you one of those watered down American beers, you'll need $10 if you want a real Canadian man's beer!!!:p

Tiki - how are you .... hows the boy :D




Surf,

Thanks for the link, love the show ... that female lawyer looks like a score why not go for her?

Oh wait you already tried the lawyer thing :(
 
In my previous post I criticized the show, but just to show that it wasn't completely without value, here is what I learnt from Episode 2:

1. A $28 Idiot's guide to daytrading beats a 4 years, $80K business school.

2. When you are a business manager it helps if you watch The Amazing race, just in case you have to catch a helicopter in 40 minutes.

3. It is faster to cut shoelaces then untying them. (this was my favorite educational info)

4. Apparently coldcalling people is still a profitable business.

5. Traders in the cottonpit are just one big happy family and they think of each other as brothers and sisters.
 
Quote from Pekelo:

In my previous post I criticized the show, but just to show that it wasn't completely without value, here is what I learnt from Episode 2:

1. A $28 Idiot's guide to daytrading beats a 4 years, $80K business school.

2. When you are a business manager it helps if you watch The Amazing race, just in case you have to catch a helicopter in 40 minutes.

3. It is faster to cut shoelaces then untying them. (this was my favorite educational info)

4. Apparently coldcalling people is still a profitable business.

5. Traders in the cottonpit are just one big happy family and they think of each other as brothers and sisters.
More...

1. I paid more than $28 for books :(
2. Flip flops win :p
3. Coldcalling is the best! :eek: I love those telemarketers, specially the girls, I simply ask them (the girl) if she is wearing any panties... :eek: they ussuallly hang up right away
4. Cotton - you got to love cotton, specially if you are a woman...what do you do if you are in the rag? :confused: COTTON! :cool:
 
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