* full article is in WSJ * dealbook.blogs.nytimes.com/2009/08/11/small-firms-said-to-be-attracting-big-talent/?pagemode=print August 11, 2009, 5:02 am Small Firms Said to Be Attracting Big Talent As many of Wall Streetâs A-list firms regroup and retrench, many B-list firms are prospering and hiring, The Wall Street Journal wrote in a report on how the financial crisis is benefiting others besides the likes of Goldman Sachs and Morgan Stanley. As an example, The Journal points to Steven Schonfeld, owner of the Schonfeld Group Holdings trading firm, who is âliving it up like the financial crisis never happened,â according to the newspaper. In Mr. Schonfeldâs 27 years in the business, his small, little-known firm never had much success hiring traders from Wall Streetâs biggest firms. Since the crisis, however, he has hired more than 20 traders from big banks â and wants a dozen more. First New York Securities, with about 225 traders, has hired more than 50 traders in the past year from larger rivals like JPMorgan and UBS. Execution, a securities firm based in Greenwich, Conn., opened a new office in Midtown Manhattan to make room for new hires from Goldman Sachs, Morgan Stanley and others. Other firms to angle for top-drawer talent include Bright Trading, Schottenfeld and the DRW Trading Group, the newspaper said.
Somebody with a subscription please post the whole article. dam schoenfeld made $200 mil last year and is building a $90 mil home. shit bright charging .007 a share must be banking 20-50 mil a year in overrides.the moneys made in providing the pic's and shovels (prop houses) not panning for the gold(traders)
Gargantuan-sized building projects occur at long-term market peaks. You may get your "wish" of bad things happening to other wealthy people in due time.
personally speaking I think some of us on ET could and do "out trade" these cats whom run OPM but it is not easy as some of them are superstars and "give back to society" while others start out as cubs at first www.youtube.com/watch?v=k02p2i1nsDE www.youtube.com/watch?v=1jPWuHZJ0As
Other firms to angle for top-drawer talent include Bright Trading, Schottenfeld and the DRW Trading Group, the newspaper said http://www.bloomberg.com/apps/news?pid=newsarchive&sid=apx0o7rJ_yyQ i see what wsj mean by top talent.