transitioning into an institutional career from prop

[Banjo]

Caltrader, always wondered just how these guys do this "exotic" stuff. They must have dynamic models that are in constant flux. Do they rebalance all day long or some sort of schedule or whatever?
It facinates me that they have to deal with mkt dynamics on such a huge scale, billions of something here that has to be hedged there etc. Don't want to do it, just interested in what some one who knows has to say about the workings of organizations on this level.

 

[CalTrader]

Quote from Don Bright:



I know that they exist, I would like to visit one where the traders are fully discretionary with the Firm's capital....

Don

I dont know if I would call the examples I have seen "Fully" discretionary since they still have a set of parameters to work within ..... .Getting onto the trading floors is pretty tough and I have only done so after having a valid business reason for being there and signing a stack of agreements ........

 

[Don Bright]

Quote from CalTrader:



I dont know if I would call the examples I have seen "Fully" discretionary since they still have a set of parameters to work within ..... .Getting onto the trading floors is pretty tough and I have only done so after having a valid business reason for being there and signing a stack of agreements ........

I don't have any trouble getting into the major trading floors of course....I'm just looking for whatever is considered to be "new" out there. In Chicago and NYC, I have seen the "big boys" (banker/brokers mainly) in action. I was just wondering if I was "missing anything" as far as discretionary trading is concerned.

My estimate of around 6,000-8,000 professional traders nationwide, includes about 2,000-3,000 of these "Firm traders"..pretty small numbers in an industry this size.

I'll gather a few names, and hit the trading rooms when I hit Chitown or New York next.

Don