if your bosses thinks that you are a one time fluke and that your performance will not be repeated or that you had a cowboy attitude which put the firm or his job at risk regardless of results you will firmly and quietly be shown to the street without any bonus.
Peter Thiel: just read a short article about him in my PBK magazine. No mention of Wall & Broad pedigree. Did I miss it? Or is his fund not "top?" I don't pretend to know much about Wall Street -- only grateful that the fellas there have -- purely for their own self interest mind you -- expanded the con enough to create a little daylight for skilled pikers.
Ill tell you why,and this is coming from an ex managing director of proprietary trading,head trader of equity derivatives and later emerging market equity derivatives at major investment banks.. Plain and simple...A vast majority of the traders employed by Wall street firms are not that talented...Most dilude themselves nto thinking they are masters of the universe when they truly excel in trading customer flow,selling offers and buying bidside along with embedding options that are 5 vol points too high in structured products,and trading funding spreads at AAA institutions Maybe its different where you work,but at the firms i have been at,90% of the revenues were customer related,and 90% of the losses were proprietary in nature... Have you ever asked a trader at an investment bank what his Sharp is or max drawdown??How about risk adjusted return??Make it easier,ask him what their return on capital is..Good luck getting an answer.. Take a walk on the wild side and trade your own capital,and then let me know what your true market value is....
paul volcker was recently quoted as saying that he can't understand a system in which hedge fund managers collect 2+ 20. the hedge fund blows up and the manager is living high in palm beach never sharing in the losses.
I better have a new bentley come january or i'm jumping off the brooklyn bridge seriously - buncha people at Goldman are happy. Bear, looks like a funeral parlor there