There are few examples of successful Quantum Mechanical Physicists with "low IQ's" if any at all. I see you didn't address the issues, or points effectively. I am talking specifically about people who would trade at your firm, you know the ones who you want to recruit, and the skill set necessary, the financial wherewithal to sustain a learning curve, the right emotional makeup, the ability to make decisions under stress, trainable, and of course the work ethic. Or are you still telling us that you have no idea why people make it at Bright or other prop firms where the firm doesn't bankroll them from day one?
To suggest that there's no opportunities beyond trading is ludicrous at best. Although turnover ratio and unemployment is on the rise, there are ton of opportunities for college students. Fixed-income department and MBS/CMOs are hiring ... just to name a few. ITs not as easy as the go-go 90s. But believe it or not, starting pay for college grad for analyst position is 40-45Ks. Secretarial jobs ranges from 38-42 ks. That's a shitload of money... not to mention the upward mobility. IT just depends on how far you can extend yourself... Having said that: I think you Either have a second agenda or have lost pace with reality.
There are few "quantum physicists" period....and very few "academics" who make more than a modest living. If you can read emotional makeup correctly, then you are in the smallest minority of pure "psychics"...... And, in case you haven't noticed....there are no "jobs" period. Being in a position to offer 'opportunities" actually makes me feel good....and if BT succeeds at the same time, then we can continue to do so (as opposed to the many firms who have gone by the way). Don
"There are few "quantum physicists" period....and very few "academics" who make more than a modest living." Apparently you don't see the value in academics who live modestly. Fortunately for the sake of our future as a society, that understands the value of education, there are those who have not sold their soul to the all mighty buck like you have. "And, in case you haven't noticed....there are no "jobs" period." No jobs? What a false statement. More methane from Don, typical of the salesman approach to selling their product. No professionalism, just hyperbole. There are thousands of sales jobs available with unlimited upside potential. There have always been jobs available, it is just more competitive at the present time. In some sectors, like biotech, the hiring is not in a slump at all but expanding. Try reading the want ads before you make such asinine statements. "If you can read emotional makeup correctly, then you are in the smallest minority of pure "psychics"......" Again, nonsense based on evidence from professions which administer psychological testing before hiring. That you are unable to pre-qualify, that is your weakness. I am certain that if your firm was bankrolling traders, rather than living off of the commissions generated by traders, there would be much greater attention devoted to suitability and probability of success of applicants.
Having worked at places like Harvard and Stanford, and other big government laboratories, I can tell you that whatever "IQ" measures, it surely isn't intelligence - whatever that is ..... There are about 10 decent positions for theoretical physicists WORLDWIDE. The rest of the people work like slaves or for low dollars given all of their training. These are not positions IMHO that a smart and talented person would work towards .... Most of the hype surrounding the profession is quickly unvelied once you are actually working as a professional in this arena. As far as jobs go in the financial industry, there are many entry level jobs for which the requirements have escalated to ridiculous levels. Yup, you can obtain an entry level job with exceptional qualifications and then what ? Sure, take a shot at becoming Senior VP or CEO in a big company and see where it leads you: You might not like what you have to do to succeed. You may be much better off - and learn a lot more - by working a few years in a big company and then starting your own ventures.
Try reading, period.....even today all the major networks reported on how the college grads are moving back home. No successful career allows for "pre qualification"....ala the legal field, all went through vigorous training, yet many end up lackeys in some aspect, and don't even make a decent living. My feeling for academics was mis-read, at best....since my wife the UC Berkeley grad has been teaching in the inter-cities for 15 years. If we were "bankrolling" traders, then we would be on the endangered species list.....as you say, most traders fail....why would we not want to cater to the "successful minority" who pass the test (the only true test, that of success). Once again, I really don't think we disagree as much as you would like. How many "franchises" fail? Why would you pay out money for a franchise? Instead of paying money out to the "franchise" a potential trader can simply keep that money with the potential of making some serious "upside." With a very limited downside. Anyway, the discussion have certainly help spark interest in the hearts of the entreprenerial spirits out there. I would like you to re-think the fact that we don't "take" the $25K (or less) from anyone....we simply offer a valid service at a great price. It's simply "risk reward" and "supply and demand".....nothing more, nothing less. BTW, at some point I will need to ask you sign a release so that I can use all of this in my book....but if you choose to remain anonymous, I won't have to. Don
IMHO: Even though one can get these decent positions, the day he starts is likely the date that he stops doing research. Drafting grant proposals by day and by night will be the main focus for the next five to six years. He has to publish or perish.
I just went to see if I could buy a Subway Franchise and they put me through rigirous psychological testing and I failed. nitro