...but there always was capital - and still is - for people that repair distressed properties for resale or rental. That type of business will never go away....
What year did you graduate? EDIT: Nevermind, I see that you're a freshman in college. If I could do it all over again, I think I would major in computer programming and minor in finance or economics. Or vice versa. In the case of the former, you'll always have an alternative skill to fall back on in the event trading doesn't pan out. Oh, and once a Trevian always a Trevian. You will never, ever be able to escape New Trier grads. They are everywhere.
http://www.scs.northwestern.edu/pdp/npdp/courses/?Program=TRADING http://www.cbot.com/cbot/pub/page/0,3181,1130,00.html
If he is, we won't hold it against him. I assume since he's 10y out of HS he's probably not wearing his varsity jacket anymore. You think? Friggin' New Trier sycophants [j/k]
Doesn't sound like you know the RE market very well. Try screwing with fixer uppers in a recession and see how far you'll get.
Standard path to becoming a trader is a BSBA from a good university, a MBA from a top 5 school, a SAT min. of 1250, and a competitive spirit that won't quit. Everybody on wall street uses this for basic education: http://www.nyif.com/ You find find specific requirements for most trading positions here: http://jobs.efinancialcareers.com/Trading.htm If you can't meet the requirements, your best bet is to go for it on your own. Trade part-time and do your own research. Get a notebook, write down every question you can think of and spend your research time developing the answers. Trading books from well known authors are mostly garbage.
I agree with this. I would also recommend as a 3rd option to newtowkr through freinds and family. Most guys at hedge funds that I have met are donkeys that got the job simply by knowing someone in the industry. (dad's country club buddy, or his older brother is in the business, etc) They went to average schools and are of average ambition, but had the contactst to get their foot in the door. Now with the bigger more well known h. funds, this isnt true, but you dont need to be working at a SAC, etc... I honestly think networking is the single best way to go.
ohnotrader -- there are many ways to trade and many ways to get into trading. If you are short of capital, your avenues into the business may be limited to a degree but they do exist. There are methods of trading that allow you lots of freedom and other ways that require a great deal of personal attention and maintenance. It all depends upon what you want to do. That is part of the beauty of trading because you get to build your own business. I trade futures and am primarily interested in ag spreads but I am always looking for other trading ops. Someone else may choose to arb stocks or trade Forex for ticks. Still, it is all based on what you want to do. Some of the longer term methods allow you to have other pursuits where your livelihood is diversified to a point where if you fail at trading, you are not crippled financially. Take a look at the books and articles that are out there. A lot of it is crap but there are good books and articles that can be found and good mentors that can help you find your way. Good luck!