is first new york securities a good firm?

Discussion in 'Prop Firms' started by erniej, Sep 28, 2007.

  1. erniej


    i have gotten offer from them to trade their money. i have track record and looks like they like what they saw. fnys also said i could build a hedge fund as a separate entity on the side. fnys told me i don't need to worry that they won't be able to provide me enough capital in the future, they'll "be able to handle whatever your needs are"

    are they reputable? why would they let me run side biz? what are chances they'll cut me off at first drawdown or not really allow me to grow into more capital? are there better firms to approach in nyc area? thanks.
  2. Mschlau


    What were your credentials that you feel initiated their offer?

    I've heard that they give out a lot of money to start up funds as a way of using excess capital without falling into the trap of diworsification. Can't vouch for that info though.
  3. Surdo


    There are a bunch of portfolio managers that cut their teeth at FNYS. I personally never worked there, but covered a few smart guys that traded there. I have only heard good things about them.

    Try to get into S.A.C. if you think you are worthy.

  4. I have a friend who works there. Top level guys taking extreme risk. first new york is one of the best. Stevie Cohens old partner works out of their office. Boggles my mind you have not heard of them. You must be a serious guy to be considered there. Some guys take on 6 figure drawdowns before they turn a profit. Make less than 1m in a year and you are fired. Good luck. p
  5. Mschlau


    What is S.A.C.?
  6. SAC is Steve Cohen's firm
  7. pv150


    For a retail trader looking to go fulltime, how would a track record with options look at FNY (no daytrading stocks) going from five to six figures in about 2 years?

    If any one here trades with them, are a lot of their traders in their 30s-40s? And is it all discretionary trading, as with the less reputable outfits out there? Thanks.