Interested in a trading position

Discussion in 'Professional Trading' started by lasner, Jan 12, 2007.

  1. lasner


    Hi I was interested in a trading posititon. I want to start a hedgefund of my own someday.

    I was looking at junior trader positions, but they are so hard to come by. I've pretty much given up on them.

    I was offered a Financial advisor position, do you guys think this could be good investment ground work to understanding hedge fund investing.

  2. No. It has nothing really to do with trading. However, if they are paying you a decent salary, I would take it...ONLY if it is with a good firm (Merrill, Morgan, Smith Barney, etc.) and the training is decent. You will get licensed and get that out of the way. Then, you can start building up contacts and learn how to raise money. It's a skill that will come in handy if you ever launch a fund. As long as it's a good name behind you, it won't hurt.

    Don't work for the "Dewey Cheatem and Howe" firms.
  3. GGSAE


  4. lasner


    Yeah but it does have to do with investing...I guess if I really want to understand trading and how funds operate I will just have to keep trying for a junior trader position...I'm going to be sitting for the CFA in June so that will help, once I get it.
  5. If I had the time to go back to college, I would take the best quantitative finance classes you can find. And also learn c++. Knowing both of these in the current climate will guarantee you a six figure salary.

    With additional trading background, your salary jumps to seven figures.
  6. In my opinion, the more you try to be an "investor," the less successful you will be as a broker (financial advisor). Remember, it is 100% commission/fees, so you get NADA for being a brilliant investor. You cannot build a track record in any way shape or form. You must raise assets and place them with funds and managers. It would be good to know investing from a macro sense, for asset-allocations and such, but if you try to get down to the nitty gritty of investing, you will not raise money, and you will be broke and out of the business. FA's and Brokers are all about sales...raising the money, selling plans, consolitating assests, etc. And don't get me wrong, that's not a bad thing. You can do some trading on the side, but that's not what that business is about. I have a good friend who makes a couple million a year as a broker with <big kahuna firm>. But, he doesn't pick a single stock. He allocates everything out to different managers/funds, and does 4 seminars a month.

    Now THAT's a guy who could probably start a fund because he's managed the relationships and can raise money. However, he would need a "manager" to trade, because he is clueless. 20 years in the business and he has never seen a chart.

    CFA is awesome. Lots of credibility for the analyst path.
  7. lasner


    Yeah I guess your right. I just got laid off from Morgan Stanley. I passed the serires 7 and 31 but missed the 66 by one point. I was laid off because off it.

    I just passed the 63 and 65. I don't want to head to Merrill Lynch as an FA but feel I may have to.

    Man I've been searching my ass off for a junior trader spot but can't find anything. Maybe I'm looking in the wrong place..I'm searching careerbuilder and monster. DOES ANYONE HAVE ANY ADVICE PLEASE!!!!
  8. Whats the bible of Quantitative Finance?

    I wish I had time to step away and take this course.

    thanks for the link.

    #10     Jan 13, 2007