The "I'm going to be a materialistic capitalistic trader." Thread.

College Majors Business Major
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<p>Actually I mean sales trader simply wouldn't have such a large networth. Sales traders work on commissions/spreads and is more involved in providing liquidity for client orders rather than actually placing bets for the book (which is called prop trading). They are not fully flow traders either because they also directly interact with clients and try to make them to place bets (and thus generate commissions). Big money in banks nowadays is made by prop traders (although in some areas the lines between prop and flow are blurred). You may want to check out <a href="http://www.ibtalk.com%5B/url%5D"&gt;www.ibtalk.com&lt;/a> which has some good info on the work done by various departments in a bank. </p>

<p>Also venture capital is more comparable to banking than to trading. Trading is very narrowly focused.</p>

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<p>Of course, it's kinda impossible to have such a GREAT networth. Well, people here are very ambitious and see themselves working hard in the future. But hey, maybe one of us could be one of those! Yes, what you say is correct. Traders, for the most of the time, receive tons of calls everyday - stock brokers, businesses, firms, etc. They give advice to how the stock market is flowing and you know, all that. </p>

<p>I think this is the best clip to sketch the general picture of what and Ibanker does (Al) and what a Trader (Elin) does.</p>

<p><a href="http://www.morganstanley.com/careers/recruiting/north_america/programs.html%5B/url%5D"&gt;http://www.morganstanley.com/careers/recruiting/north_america/programs.html&lt;/a&gt;&lt;/p>

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<p>See you are confusing me. I am referring directly to the position of a sales trader itself. A sales trader is nothing more than a broker except they go after institutional money. They are the order punchers. They aren't the guys making bets for their own book. </p>

<p>Traders aren't in the business of giving advice. They make bets. Their goal is not to have someone else win, but to win themselves. Brokers try to give advice so that their clients trade and thus win commissions. </p>

<p>For a good sketch of a trader this is the best IMO: <a href="http://www.americancoalcouncil.org/news/dayinlife.pdf%5B/url%5D"&gt;http://www.americancoalcouncil.org/news/dayinlife.pdf&lt;/a&gt;&lt;/p>

<p>Of course you have books which are decent as well. Keep in mind also that the sketch in that link deals an energy trading company.</p>

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<p>OK I'll shut up.</p>

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<p>o my question was rhetoric, i know traders don't need MBA's, its just funny that everyone here who wants to become a "materialistic capitalistic trader" wants to get an MBA.</p>

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<p>guguru: Well, I don't think everyone really thought of it just being limited to trading, which explains why they want to get MBA's.</p>

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<p>Heh so why the narrow focus in the first place...</p>

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<p>guguru: traders get MBAs to go into other fields (venture capital, hedge funds, whatever). So any trader who intends to get an MBA intends to leave trading eventually.</p>

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<p>lol we got some over achievers here, well gud luk, i would be more than happy if i am earning something like 200k/year like 15-20 years down the road....</p>

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<p>Well trading is rather unrelated to venture capital or PE. Profitable traders are able to move up regardless of MBAs. Hedge funds look for profitable traders not for MBAs.</p>

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<p>pre-med, if it wasnt supposed to be limited to trading, then why are post of the posts hedge fund partners? and most hedge funds in general trade.</p>

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<p>I think it was meant for business dreams in general, but talking about rogue traders seems to give everybody on CC one giant Boner.</p>

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<p>Indeed. I might add that most have a rather confused boner as they don't know what being a trader even entails. ;)</p>

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<p>^Yeah, I think its called erectile disfunction. I might just have it mahras.</p>

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<p>This thread like totally died. :)</p>