What do equity traders at major firms like Merrill do these days?

indahook · Apr 25, 2003

Quote from ryanmitcho:

hey, trading on inside info can be profitable- just ask holly becker or martha stewart

allegedly!!!

I live in the same town where martha has her house on the east end of Long Island and they hate her out here.....once a few years ago she ran over the neighbors help pulling out of her driveway and then threatened to sue him for trespassing.

harrytrader · Apr 25, 2003

"traders" these guys ? Just well paid shoes sellers that what they are paid for: selling shoes to institutions to pump out the public money.

Quote from javs5150:

Is there still order flow to trade?

Mecro · Apr 25, 2003

Quote from Mecro:

Tell more. Whats the exact story?

What happened with SLK and Goldman.

cornholetrading · Apr 25, 2003

Quote from Mecro:

What happened with SLK and Goldman.

Goldman bought SLK for a lot of money when things were going OK. Looking back it looks like they overpaid. Then they tryed to integrate the traders from SLK into Goldman which from what I heard was not a very good combination of corporate cultures. At the same time the market was crapping out. So of course they start slashing SLK traders going from something like 500 down to 40. I guess recently they slashed some more from that 40 that were remaining.

PoundTheRock · Apr 25, 2003

Quote from javs5150:

Is there still order flow to trade?

They get their asses kicked by Fidelity, and then say please sir may I have another?

Mecro · Apr 25, 2003

Quote from cornholetrading:

Goldman bought SLK for a lot of money when things were going OK. Looking back it looks like they overpaid. Then they tryed to integrate the traders from SLK into Goldman which from what I heard was not a very good combination of corporate cultures. At the same time the market was crapping out. So of course they start slashing SLK traders going from something like 500 down to 40. I guess recently they slashed some more from that 40 that were remaining.

Makes you wonder if these investment banks/brokerage houses even have a clue of what they are doing. Who knows.

I work at UBS at nights and even though this one of the more humane and better performing IBs, even here the top management has absolutely no clue.

cornholetrading · Apr 25, 2003

Quote from Mecro:

Makes you wonder if these investment banks/brokerage houses even have a clue of what they are doing. Who knows.

I work at UBS at nights and even though this one of the more humane and better performing IBs, even here the top management has absolutely no clue.

What do you do at UBS?

I always thought it was funny when these firms who makes millions off of advising M&A deals botch the timing of their own deals and pay the top of the market.

javs5150 · Apr 26, 2003

Quote from PoundTheRock:

They get their asses kicked by Fidelity, and then say please sir may I have another?

Fidelity traders are better than everyone else?

PoundTheRock · Apr 27, 2003

Quote from javs5150:

Fidelity traders are better than everyone else?

No, in order to get Fidelity's business, the equity desks take the other side of their trades and get whacked in the process. It's all about volume.

just21 · Apr 27, 2003

Don't these trading desks buy something else paired to what they are now short or vice versa. I had heard, probably on this board, that pairs trading was morgan stanleys main trading strategy across all markets.