I would agree there, a lot of people say the computer will calculate your plain vanilla option so it's easy but they don't understand the gearing effect or vols and and structuring and they get f**ked to put it plainly.
I have been a succesful equity proprietary trader at a small firm for a year. Could anybody give me advice how to pursue a position at a decent sized prop desk at an I-bank or hedgefund?
You may be able to get yourself an assitant position on a proprietary desk at an Ibank but you will obviously have to target that specific desk and then be very persisitent and direct about getting a chance on that desk you will be doing research p and l statements calculations for those prop traders, but if they think you have something you will get your opportunity. You must take risks in life if you want to have a lot of success and also be resiliant accept that it will not all go your way but you must stick in the game and not get downheartened.
Should apoligize to Rich Beem. Here I went mocking him a few weeks ago and he wins the PGA championship and in the process beats Tiger Woods (the rare time Tiger was 'defeated' in a major on Sunday). http://www.elitetrader.com/vb/showthread.php?s=&postid=100365&highlight=beem#post100365