Jack o'Clubs
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With a title like that, I can imagine it will be a balanced and reasonable argument of the national benefit of having these guys based in London, rather than New York, or Frankfurt 
Jack o'Clubs
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You mean you don't have one of these? :cheesy:neil said:
http://www.telegraph.co.uk/portal/main.jhtml?xml=/portal/2007/01/16/ftwives116.xml
mace_d_ace2
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Hey guys. all have a laugh at me go on, im 20 years fo age, and have wanted to get into trading for a long time, ever since school. The one problem i have is i never went University, have only acheived a grade D in Maths at school and so i guess i stand no chance of getting into a reputable investment bank with my past experience. I live in Bexley, in a modest 3 up town house, nothing special, but i want money, and lots of it!!! I was inspired further still by this program City excess as mentioned, 25 years of age is mr lawrie inman and he could easily retire at 25!!. Amazing!! Im hungry for money, real hungry!! Need an oppotunity or a break to come my way, any ideas senior traders??? [email protected] - msn address.
mace_d_ace2
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It didnt really say tom, all i know was he was working for Marex and i think he was trading futures.
Jack o'Clubs
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That's a pretty safe assumption. On the other hand it's not necessarily a bar to becoming successful as a trader - most traders work outside the IB's.mace_d_ace2 said:
You could learn a bit by reading Laptop's signature, or others like it. But still, if you want to get started trading there's enough free resources on T2W (try the knowledge lab) to get you going. Just avoid 'get rich quick' trading schemes of which there are plenty out there. That 'hunger' for money is like a magnet for people looking to rip you off - if it looks too good to be true it probably is. And remember, if trading was simple everyone on here would be multi-millionaires (although a few are, maybemace_d_ace2 said:
)
zigglewigler
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tomhunter said:
Yes, they're not trading their own money. There's a sea of cash looking for high returns, the holders of said cash will pay the high comms to the financial markets in exchange for high returns, but the city decides just how much of that cake it will eat (hey,'cause you're worth it), if you have a problem with their cut you can opt out, but as long as everyone is getting rich the game continues.
Hi all,
Approximately 3 weeks ago there was a programme on BBC1, made
by father/son Peter and Dan Snow on where the wealth in GB was coming
from. The conclusion was that about 16% of the British economy was
derived from the Square Mile, and also 12% of the total income tax was
sourced from workers in this area.
Someone from the city commentated
that London was now the financial centre of the world, and with the amount
of money flowing through daily even a small %age skimmed off was
substantial. In order to stay No1 London needs to attract the best players
and the Labour Gov, according to the programme, has/is/will continue to
provide the right legislative/taxation enviroment for this success to continue.
Also, in the ITV prog. someone pointed out that the old school tie/ public
school type was now virtually extinct in the city, an example given was that
of Michael Sherwood, 40 yrs old head of trading @ Goldman Sachs, personal
wealth estimated at 600 mill, had been earning 1 mill at 28 yrs old, and
had recieved his degree from Manchester Uni .
If you've got the ability youcan/wil go far.
Approximately 3 weeks ago there was a programme on BBC1, made
by father/son Peter and Dan Snow on where the wealth in GB was coming
from. The conclusion was that about 16% of the British economy was
derived from the Square Mile, and also 12% of the total income tax was
sourced from workers in this area.
Someone from the city commentated
that London was now the financial centre of the world, and with the amount
of money flowing through daily even a small %age skimmed off was
substantial. In order to stay No1 London needs to attract the best players
and the Labour Gov, according to the programme, has/is/will continue to
provide the right legislative/taxation enviroment for this success to continue.
Also, in the ITV prog. someone pointed out that the old school tie/ public
school type was now virtually extinct in the city, an example given was that
of Michael Sherwood, 40 yrs old head of trading @ Goldman Sachs, personal
wealth estimated at 600 mill, had been earning 1 mill at 28 yrs old, and
had recieved his degree from Manchester Uni .
If you've got the ability youcan/wil go far.
Directional
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theEdge said:
yeah, I'd heard that same rumour too
PitBull
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Arbitrageur said:yeah, I'd heard that same rumour too
Lawrie was doomed for failure anyway, with a strategy encompassing "maxing out" all his available leverage. To earn £700k in one day and lose £250k in another, recipe for disaster. Percent risk model comes to mind!
timsk
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Lawrie Inman
On the whole, the T.V. programme was very lightweight, providing minimal insight into the world of these 'star' traders. At times, I thought I was watching an episode of Footballers Wives. (C'mon peeps - middle aged bloke - totty - what do you expect!) Lawrie Inman's comments were the most interesting and the most surprising, IMO. He's made similar comments in an article reproduced below from Associated Newspapers Ltd - highlighted in bold. I suspect he's not read the 'First Steps' forum on T2W - at least the parts about detaching your emotions and ego from your trading and 'trading what you see and not you think' etc. That said, if he can get away with it consistently and continue to make squillions, then comments such as these will sound rather pathetic. A case of sour grapes some would argue from someone who can't cut it in the way that Mr. Inman has. If this is the case, then I take my hat off to the guy; it's yet another example illustrating that there are numerous ways to trade the markets profitably.
The world's top traders aged 30 or below are named today, with young London guns picking up five of the coveted positions. They represent the changing face of the modern City. None went to Oxbridge, some turn up to work in scruffy jeans and T-shirts, and they all earn vast sums, making high-risk bets on the global markets every day. Aggressive, sporty and workaholic, they regularly put in 15-hour days, trading across different time zones. They work for hedge funds and small, young trading outfits that most outside the rarefied world of big-stakes dealing will never have heard of.
Youngest of the Brits is Lawrie Inman, a 25-year-old from Camberley, Surrey, who graduated from Swansea University four years ago. He buys and sells the five-year German government bond market, known as the Bobl. Last year he earned what he calls a "seven-figure salary" after performing spectacularly on the markets. In his two years' trading the Bobl, his rise has been meteoric, and he now takes such big trading positions that for every one- point movement in the market, he wins or loses Pounds 10,000. The Porsche 911 driver was the youngest of the rankings in the prestigious Trader Monthly magazine list of the top 30 young traders. He is perhaps best-known for guessing correctly the way the markets would move during a key speech made by European Central Bank president Jean-Claude Trichet. He took a huge bet and made a Pounds 700,000 profit on that one trade.
"This is the best job in the world," he said. "It's not the financial side of trading that gives you the buzz - it's being proved right. Knowing you did the right thing and being vindicated for it."
Football-playing Inman is a local trader, meaning he trades mostly with his own money. He works at the Marex Financial trading firm, where he keeps 90% of the profits on his trades. The City's other big-hitters include Giles Macey, a 30- yearoldrugby-playing trader at Mako. Macey is known by his peers for his "aggressive but disciplined" approach in the predatory world of US government bond trading. He left Anglia University, formerly Cambridge Poly, in 1999 and went straight into the aptly named Mako - complete with shark logo - where he has stayed ever since, regularly working from 6.45am to 8.30 pm to catch trading in both Europe and what he calls "the bear pit" of Chicago. "Some people lose the edge early on. A lot talk of burnout at 35 and 40 is considered old," Macey says. He is coy about how much he earns, but Trader Monthly senior editor Rich Blake said most on the list would be bagging annual bonuses of up to $5 million (Pounds 2.7 million).
The other London traders who figure on the list are 27-year-old ABN Amro carbon emissions trader Kelvin Milgate, Sigma Derivatives futures dealer Paul Redmond, also 27, and Comac Capital's Adam Grunfeld, a New Yorker who has settled in London to trade "anything where he sees an opportunity".
(c)2006. Associated Newspapers Ltd.. Provided by ProQuest Information and Learning Company. All rights Reserved.
On the whole, the T.V. programme was very lightweight, providing minimal insight into the world of these 'star' traders. At times, I thought I was watching an episode of Footballers Wives. (C'mon peeps - middle aged bloke - totty - what do you expect!) Lawrie Inman's comments were the most interesting and the most surprising, IMO. He's made similar comments in an article reproduced below from Associated Newspapers Ltd - highlighted in bold. I suspect he's not read the 'First Steps' forum on T2W - at least the parts about detaching your emotions and ego from your trading and 'trading what you see and not you think' etc. That said, if he can get away with it consistently and continue to make squillions, then comments such as these will sound rather pathetic. A case of sour grapes some would argue from someone who can't cut it in the way that Mr. Inman has. If this is the case, then I take my hat off to the guy; it's yet another example illustrating that there are numerous ways to trade the markets profitably.
The world's top traders aged 30 or below are named today, with young London guns picking up five of the coveted positions. They represent the changing face of the modern City. None went to Oxbridge, some turn up to work in scruffy jeans and T-shirts, and they all earn vast sums, making high-risk bets on the global markets every day. Aggressive, sporty and workaholic, they regularly put in 15-hour days, trading across different time zones. They work for hedge funds and small, young trading outfits that most outside the rarefied world of big-stakes dealing will never have heard of.
Youngest of the Brits is Lawrie Inman, a 25-year-old from Camberley, Surrey, who graduated from Swansea University four years ago. He buys and sells the five-year German government bond market, known as the Bobl. Last year he earned what he calls a "seven-figure salary" after performing spectacularly on the markets. In his two years' trading the Bobl, his rise has been meteoric, and he now takes such big trading positions that for every one- point movement in the market, he wins or loses Pounds 10,000. The Porsche 911 driver was the youngest of the rankings in the prestigious Trader Monthly magazine list of the top 30 young traders. He is perhaps best-known for guessing correctly the way the markets would move during a key speech made by European Central Bank president Jean-Claude Trichet. He took a huge bet and made a Pounds 700,000 profit on that one trade.
"This is the best job in the world," he said. "It's not the financial side of trading that gives you the buzz - it's being proved right. Knowing you did the right thing and being vindicated for it."
Football-playing Inman is a local trader, meaning he trades mostly with his own money. He works at the Marex Financial trading firm, where he keeps 90% of the profits on his trades. The City's other big-hitters include Giles Macey, a 30- yearoldrugby-playing trader at Mako. Macey is known by his peers for his "aggressive but disciplined" approach in the predatory world of US government bond trading. He left Anglia University, formerly Cambridge Poly, in 1999 and went straight into the aptly named Mako - complete with shark logo - where he has stayed ever since, regularly working from 6.45am to 8.30 pm to catch trading in both Europe and what he calls "the bear pit" of Chicago. "Some people lose the edge early on. A lot talk of burnout at 35 and 40 is considered old," Macey says. He is coy about how much he earns, but Trader Monthly senior editor Rich Blake said most on the list would be bagging annual bonuses of up to $5 million (Pounds 2.7 million).
The other London traders who figure on the list are 27-year-old ABN Amro carbon emissions trader Kelvin Milgate, Sigma Derivatives futures dealer Paul Redmond, also 27, and Comac Capital's Adam Grunfeld, a New Yorker who has settled in London to trade "anything where he sees an opportunity".
(c)2006. Associated Newspapers Ltd.. Provided by ProQuest Information and Learning Company. All rights Reserved.
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