The Pro's "je ne sais quoi"

[meanreversion]

The last time I was called such things was by a dumb ass thief in in suit, he was a city trader mugging old widow's pensions , charities and orphans .

You're fairly accustomed to being called a f*cking moron? Why doesn't that surprise me.

 

[gooseman]

The last time I was called such things was by a dumb ass thief in in suit, he was a city trader mugging old widow's pensions , charities and orphans .

please define "city trader"

 

[MrGecko]

I think being a salesman in an IB would be pretty cool, tbh. Just as much at the pointy end as the traders IMO.

 

[meanreversion]

I think being a salesman in an IB would be pretty cool, tbh. Just as much at the pointy end as the traders IMO.

You would need to be prepared to suck up to clients you don't particularly like. Most traders are not very good at kissing ass like this.

The pros are 1. you never take any risk yourself 2. you get to go to all the best restaurants and events for free 3. you talk to a diverse and interesting bunch of clients.

The pay is very good, on a level with the traders.

 

[meanreversion]

This is the point at which ODT replies

"they are all a bunch of thieves. the moon is made of cheese. the moon is not made of cheese."

 

[oildaytrader]

please define "city trader"

A person allocated a sum of money to speculate /invest other people's money,but mainly for the sole profit for his paymasters i.e churning out fees and commissions for the bank .Example buy at lows of day and hitting pension funds with the high of day.

 

[meanreversion]

A person allocated a sum of money to speculate /invest other people',but mainly for the sole profit for his paymasters i.e churning out fees and commissions for the bank .Example buy at lows of day and hitting pension funds with the high of day.

Why do you bother making comments on things about which you know nothing?

 

[oildaytrader]

This is the point at which ODT replies

"they are all a bunch of thieves. the moon is made of cheese. the moon is not made of cheese."

I spoke to a friend of a U K fund manager , and he said they are all frecking thieves.

 

[gooseman]

I spoke to a friend of a U K fund manager , and he said they are all frecking thieves.

my friend's hairdresser once met the son in law of a hedge fund manager who confirmed that you are a complete tw@

 

[meanreversion]

I spoke to a friend of a U K fund manager , and he said they are all frecking thieves.

Well that's conclusive proof then.

You are such a tw*t.

 

[oildaytrader]

my friend's hairdresser once met the son in law of a hedge fund manager who confirmed that you are a complete tw@

The friend and the fund manager are very close friends, the fund manager told the friend about the tactics used.

I once went to city of London with a friend of mine , who is a friend of city boys .He said he would not invest in the city with knowledge of the frauds they are upto.

Double fees charged etc is only part of the con.

 

[MrGecko]

You would need to be prepared to suck up to clients you don't particularly like. Most traders are not very good at kissing ass like this.

The pros are 1. you never take any risk yourself 2. you get to go to all the best restaurants and events for free 3. you talk to a diverse and interesting bunch of clients.

The pay is very good, on a level with the traders.

tbh I reckon I would be a better salesman than bank trader. Might even make a good salesman.

 

[arabianights]

I think you'd make quite a good salesman actually

 

[meanreversion]

Ok, here's a test of your ability to sell.

You're a salesguy at a bank, and the head trader is oildaytrader. You're out with a client, and he wants to know why he should trade with your bank. You now need to explain how your head trader has special insights, shows the tightest prices etc.

Still think you can do it?

 

[scose-no-doubt]

You're out with a client, and he wants to know why he should trade with your bank. You now need to explain how your head trader has special insights, shows the tightest prices etc.

Still think you can do it?

Firstly I'd explain his macro views and insights over an expensive meal and strong expensive cognac, then for my demonstration of how tight our spreads are, I'd use my company credit card and a strippers f4nny. Failing that I tell him to have a practical demonstration of our favoured metaphor, a twenty year old escort.

deal closed.

 

[meanreversion]

Juicy Jenni? Or is she too notorious now.

 

[MrGecko]

Ok, here's a test of your ability to sell.

You're a salesguy at a bank, and the head trader is oildaytrader. You're out with a client, and he wants to know why he should trade with your bank. You now need to explain how your head trader has special insights, shows the tightest prices etc.

Still think you can do it?

"Deal with us and I'll take you to twickers".

There is, after all, only one ODT.

 

[oiltanker]

...Macro hedge funds, which seek to profit from broad economic trends by trading stocks, commodities and currencies, returned 1.45 percent in August and are down 1.53 percent this year,...

...The hedge-fund industry has returned 0.17 percent in August and 0.18 percent this year through August..

http://www.businessweek.com/news/20...ys-fed-purchases-may-have-limited-impact.html

Stanley Druckenmiller, a celebrated hedge-fund manager and protégé of George Soros, announced on August 18th that he would close his fund, Duquesne Capital Management, because he was “dissatisfied” with its performance. Two days later it emerged that another well-known manager, Paolo Pellegrini, plans to hand back investors their remaining money by the end of September, after making losses.

Hedge funds used to boast of their ability to deliver “absolute returns”—to make money regardless of the ups and downs in financial markets. That illusion was shattered in 2008 when the funds’ average returns were -19%, according to data from Hedge Fund Research,

http://www.economist.com/node/16891973?story_id=16891973&fsrc=rss

imo this 95% of retail lose mantra is suspect. i have never seen any evidence for it. 70% of people who open a restaurant go bust ie 'blow up their account'. If 70% of traders lose [as simon from cs once said from his figures] then that is just in line with the norm of opening a restaurant?

hundreds of hedge funds have closed in the past couple of years.

if everyone had brilliant insight or even a basic trend following system they should have all shorted the crash and made billions?

 

[oildaytrader]

...Macro hedge funds, which seek to profit from broad economic trends by trading stocks, commodities and currencies, returned 1.45 percent in August and are down 1.53 percent this year,...

...The hedge-fund industry has returned 0.17 percent in August and 0.18 percent this year through August..

http://www.businessweek.com/news/20...ys-fed-purchases-may-have-limited-impact.html

Stanley Druckenmiller, a celebrated hedge-fund manager and protégé of George Soros, announced on August 18th that he would close his fund, Duquesne Capital Management, because he was “dissatisfied” with its performance. Two days later it emerged that another well-known manager, Paolo Pellegrini, plans to hand back investors their remaining money by the end of September, after making losses.

Hedge funds used to boast of their ability to deliver “absolute returns”—to make money regardless of the ups and downs in financial markets. That illusion was shattered in 2008 when the funds’ average returns were -19%, according to data from Hedge Fund Research,

http://www.economist.com/node/16891973?story_id=16891973&fsrc=rss

imo this 95% of retail lose mantra is suspect. i have never seen any evidence for it. 70% of people who open a restaurant go bust ie 'blow up their account'. If 70% of traders lose [as simon from cs once said from his figures] then that is just in line with the norm of opening a restaurant?

hundreds of hedge funds have closed in the past couple of years.

if everyone had brilliant insight or even a basic trend following system they should have all shorted the crash and made billions?

Total understatement!

The hedge fund industry has not made an overall net return for the last 20 years.The entire industry combined has lost money if you total up all losses and profits for last twenty years , after losing over $500 bn plus in last few years.

95 % of traders lose , that 95 % applies to hedge fund monkeys.

Stuffed Private clients moving out of hedge funds

http://af.reuters.com/article/metalsNews/idAFWNAS931420100906

 

[oildaytrader]

"Deal with us and I'll take you to twickers".

There is, after all, only one ODT.

O D T says " go into interbank market and trade directly at bid offer, I can offer Rothschild or Leeson to trade for you , neither makes any difference."

Where's the fart /clown?