First, if you think Schonfeld has dried up to one or two offices, check his website, that firm is now a full service instituional firm. They are doing quite well. Second, if you think that Assent is not making money then SDS would have gotten rid of them prior to this deal as the deal is based on a multiple of earnings and a losing business has a negative multiplier. I could care less about Assent, but I do care about facts. Fact is, they are making money.
shortsqueazed Who cares about Assent? If you are worried then leave. If Sungard did not want it then they would have just closed it down. This is boring and people been talking about it for years. If a business makes money you keep it. I feel the same way about echo too.
Senor Shortsqueazed : Were you short squeezed bad when you were at Assent and they tapped on your shoulder to cover your positions market? From your comments it is very obvious that you were one disgruntled former trader who had a misfortune.. Assent is doing great from what I see and if Sungard gets 11.3 billions, Assent should have some value embedded into it. Also if you are a good trader, you will always have several good options in case things go south..
That is funny. Bright brothers bitch, hahaha. Bag holders, hehe Assent did have quite a few groups running that type of operation. I know, I was under one of them. BTW one of the founders of Assent who of course sold out to SDS for a very handsome profit, started out running a boiler room. In fact, Vin Diesel's character in "Boiler Room" was based on him. But my point is that don't be surprised if everything is not fine & dandy. Now what is up with those absurd oversell fines? There is a great way to keep your traders happy.
It's funny that the people making all these comments about Assent aren't even traders with that firm. I don't even recall any trader in our (Assent) office making one single comment about the possible effects of Sungard's sale on our trading. If the new owners of Sungard should decide to close the prop trading side of the business, Assent traders will just go trade with another firm. End of story.
Was with Assent for over a year, still have good friends there that are in the high up, not just traders. There is a lot of truth to the sale/dump rumors but nothing definite at all. What is definite is that a lot of quality traders have been leaving while whatever was left of the management simply did not care about any progress. The whole short sale violation fine rampage was pure nonsense, I do not see how anyone would stay and deal with that. Now that SDS has sold itself, here comes another round of uncertainty and worry for the Assent traders. Whoo Wheee!
I have my equities account there and if somthing happens will simply give generic or hold or bright or genesis a shot curious as to why everyones worried? whats the big deal? brokers are a dime a dozen these days
If you only have a few thousand bucks up, no big deal. But what if you have some significant money backing your trading and they go broke. You are probably not going to get all of your money back.(your money isn't insured) That could be a very big deal.