gold st capital
Banned
- Jul 18, 2012
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which firm do you work for?
How do you feel about your state and it Muni bond situation?
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Ask A Hedge Fund Fraud
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How do you feel about your state and it Muni bond situation?
gold st capital
Banned
- Jul 18, 2012
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yes to some extent. not so much with clients...all they see is green, but when you work at a firm, race is a big factor.
I'm at RK.
From a CA stand point - terrible. The entire infrastructure of CA needs to be overhauled.
- Dec 3, 2007
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ya fam, electronic made it much harder to make money, when i interned at NYMEX the pit was still there and people were raking in money, then when i interned at a clearing corporation on the exchange a few years later, those same people needed jobs.
crazy what technology does.
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- Dec 3, 2007
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Fish was my boss also, good friend of family and one of the smartest people i have ever met.
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- Jul 18, 2012
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Interesting read op. Thanks for dropping gems
- Jul 28, 2012
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What do you think about a person of color entering this business. I have been a business major and I always feel that F/A is a white mans business. Or what is the diversity in the business world.
- Jan 13, 2004
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I remember the old SN Ronin. Good to see you're doing well.
I'm at a value/LT firm, but feel free to reach out if you need any research in that discipline.
I'm at a value/LT firm, but feel free to reach out if you need any research in that discipline.
gold st capital
Banned
- Jul 18, 2012
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People of color are fine to enter the business... the real problem you will find is if you are hell bent on working for a large firm. The best way i can put it is like this, Many people want to and do work on wall st, very few actually make it on wall st.
In some places race will be an issue mainly big firms. At small firms as long as you can make them money they will give you a chance. The illusion on race is more so in your head so to speak. When I was a broker young white kids used to say they were too young... I mean young Jewish white kids felt, "oh this job is too hard because i am too young" And all those kids ended up quiting of getting fired.
Me on the other hand I don't let it effect me, Hell my name is foreign (Lovet), I'm black and I'm young. I just never give up because I know what can really be made in this business.
gold st capital
Banned
- Jul 18, 2012
- 829
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Lets talk im always looking for new ideas... email me so we can talk. [email protected]
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gold st capital
Banned
- Jul 18, 2012
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we should talk, I dont know your sentiment but I am interested in taking a large short position in muni bonds in the future. email me so we can set up a convo over the phone. [email protected]
- Sep 28, 2003
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At what age do you plan to retire? I've always been under the impression that most brokers can't trade worth $hit, any truth to that?
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gold st capital
Banned
- Jul 18, 2012
- 829
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I plan to retire when i dont like the business anymore; or if i can have 10MM in cash.
Yes most brokers cant trade for **** because they are not thinkers. they just want their rip. They dont come up with their own ideas, they wait for a trader or a trading desk to give them the idea and they then sell it to their clients.
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investing dolo, arent there fees per transaction? im assuming you have your own portfolio as well, how much do you pay for your personal transactions? (if its too personal i understand if you dont feel comfortable answering that)
gold st capital
Banned
- Jul 18, 2012
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i dont have a personal portfolio. All my money is in the fund. I pay what the fund pays per transaction. The cost is half a penny per share
antidope
Supporter
- Jan 2, 2012
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I dont think you've made it clear how you much of an exception to the rule you are. I work in the financial services industry in the as an analyst and I have access to financial advisors and fund managers earnings information. Judging by what OP has been posting he is likely in the top 5% of earners, most people dont make as much as he does or even close to it so congrats to him for even pulling it off. I'm a Jersey native as well, not there at the moment but plan to go back at some point.
A question though, earlier in the week my manager was asking me what I plan to do with my life in regards to my career and I responded that I'd probably stay in the back office and try and work my way up the ladder and he made this face with me along with my coworker who was there. Then they started talking about how the real money is truly in the field being an advisor or a fund manager and whatnot. I really dont have the mindset for it though quite honestly, simply because I dont like the idea of directly being in control of peoples money and their futures. I've heard stories of advisors losing $300,000 of peoples money essentially screwing them, I dont want that on my head at night. I have a strong interest in the industry overall and being in the field seems to be the place where you do the most in it, so IDK
But my question is, is the back office really that much of a graveyard like they try to make it seem? Especially OPs no one ever has anything good to say about working in OPs, its either be in something regarding compliance or get out. After I finish out this month I'm eligible to take my series exams so I'd just like some advice from someone who's been there before, I'd rather not put so much into this to get so little out cause you really have to know way too many things to not be rewarded for it.
A question though, earlier in the week my manager was asking me what I plan to do with my life in regards to my career and I responded that I'd probably stay in the back office and try and work my way up the ladder and he made this face with me along with my coworker who was there. Then they started talking about how the real money is truly in the field being an advisor or a fund manager and whatnot. I really dont have the mindset for it though quite honestly, simply because I dont like the idea of directly being in control of peoples money and their futures. I've heard stories of advisors losing $300,000 of peoples money essentially screwing them, I dont want that on my head at night. I have a strong interest in the industry overall and being in the field seems to be the place where you do the most in it, so IDK
But my question is, is the back office really that much of a graveyard like they try to make it seem? Especially OPs no one ever has anything good to say about working in OPs, its either be in something regarding compliance or get out. After I finish out this month I'm eligible to take my series exams so I'd just like some advice from someone who's been there before, I'd rather not put so much into this to get so little out cause you really have to know way too many things to not be rewarded for it.
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- Jan 30, 2007
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I know you can't list your clients, but can you give the companies they work for or what we may know them from (IE: movie, music or sports industry)?
jhawk826
Banned
- May 31, 2006
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Don't mean to derail the thread. If you see this send me a PM.
- Jul 18, 2012
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What makes you so sure the dollar will not collapse?
gold st capital
Banned
- Jul 18, 2012
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you can make 100k plus as an OPs manager at a large brokerage firm. I just find the Job boring but a good OPs manager is crucial to a good fund or brokerage firm.
people tend to be big on compliance because it is 100% vital for a brokerage firm to run smoothly. Adhering to the rules and have people in house who make sure of this really protects a firm.
If you want to make money in the traditional brokerage business, you need your licenses, as many as you can get. However unless you are a broker you will never be wealthy. High powered Executive assistants will make more than you and have similar licenses. you need to really decide if you will be comfortable in the pay grade.
- Jul 22, 2012
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i sell investment properties to someone who momentarily quit his position at the chicago board of trade. still has his seat, but this guy mades millions and lives debt free. he is in his mid - late 30's now.
i like hearing his tales of making 300k in a month to only making 30k a year.
the stress made him retire to focus on his family
seems it is not how much you can make, its how much you do not lose.
he always says ever heard of the story of the guy who left with 3 million, but came with 30.
i like hearing his tales of making 300k in a month to only making 30k a year.
the stress made him retire to focus on his family
seems it is not how much you can make, its how much you do not lose.
he always says ever heard of the story of the guy who left with 3 million, but came with 30.
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gold st capital
Banned
- Jul 18, 2012
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lol that's the irony, people who's money i manage is very similar to that Chris rock comedy special in which he says, " the neighborhood i live in i live next to everybody, Mary j bilge, puffy, the greats of our time... but do you know what the white guy who lives next to me does? he is a freaking dentist" Lmao
that sums up my clients. privately wealthy people whom you wouldn't know. you would know some of the companies they own but you wouldn't know them.
I do have the account of 1 high profile football coach and his NFL DE protege. But most people are owners of insurance companies, doctors, and heirs.
gold st capital
Banned
- Jul 18, 2012
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do you want the long answer? it will be a wall of text. i dont mind to do it but you have to care to want to read it. I cannot just state the detailed opinion without facts. At the end of the day though our currency will devalue but wont collapse. All currency's will devalue due to over printing of money if said money ever actually gets out to the masses.
For example the swiss franc is stronger than the USD (look at Forex currency pairs) but it is not an accurate currency to compare us to. we are nation and they are a small country, worlds of difference economics wise. the whole concept of dollar collapse is speculation. I wager devaluation. However I do not think that is the real place to look to make a mint in the next 5-10 years. Shorting municipal and low investment grade corporate bonds that are within 10 years of maturity will be the way to go.
Currency however will be an easy means to short to make money without, having to put up a lot of capital to get into the game.
so tell me how in depth you want the answer to be.
- Jul 18, 2012
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I definitely need the detailed answer in order for me to grasp what you are trying to say.
gold st capital
Banned
- Jul 18, 2012
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This is Truth!!!!
I used to have a boss that made about 275k a month and he was stressed and coked out. coke is rampant in the brokerage business. Its like the one industry that they don't drug test; people are on many amphetamines
