|
|
#251
10-17-2006, 12:38 PM
|
|||
|
|||
Re: Say goodbye to the dream
All-
Playing poker makes (relatively) a lot of money without that many constraints on your time. If you want to make more money, trading is the way to do it. Jobs like Jasons are an excellent way to start, and if you want real money, like "I'm bored and want to start buying baseball teams" type of money, you want to get involved with a hedge fund. However, in the same way that poker has huge variance, so does trading. The most famous example is Long Term Capital which you can read about in "When Genius Failed". More recently, A fund called Amaranth lost 6.5 BILLION dollars. Not everyone wins. That being said, I'm working for a hedge fund now and hope that within 5-10 years I'll be a partner, which would mean a salary in the low 8 figure range. I'd take that. If you really want this type of job, playing up your poker skills is an excellent way to get it. I got the job in large part because a partner found out about my poker skills and having a degree in physics (from MIT). I develop trading strategies which are based upon forming decisions based on incomplete information. Systematic thinking, valuing small edges, money management, and realizing that short-term means nothing are what it's all about. Sound similar to something we do? 
|
|
#256
10-17-2006, 05:20 PM
|
|||
|
|||
|
Re: Say goodbye to the dream
[ QUOTE ]
Yeah, go work for the AMEX. Their traders must make hundreds of thousands of dollars the way they screw retail clients. [/ QUOTE ] I don't know where you are coming from with this off the wall comment. When I was on the floor prior to 9/11 there were 4 active options exchanges with the AMEX number 2 in volume behind the CBOE. All the floor traders I knew at that time would bend over backwards to give great prices to retail clients. After 9/11 with the introduction of the ICE and multiple listing, the environment changed and the retail option business declined dramatically. Its a different environment today. But to say the AMEX went out of its way to screw retail clients is nonsense. Just the opposite was true (at least, prior to 9/11). You have no clue what you are talking about. Jonathan
|
|
#258
10-17-2006, 06:14 PM
|
|||
|
|||
|
Re: Say goodbye to the dream
I'm a bit confused by the guys who assume that Jason will make more on Wall Street than as a poker player. I myself work in NY (not on Wall Street, but for ~100K + stock), two years out of college. I am nowhere near the player that Jason is, any yet I still make more from poker than my from my job.
Still, I think Jason is making the right decision to try this job for all the reasons Mason mentioned. Although he will make less money in the near future and sometimes he will hate his job (but hopefully not all the time).
|
|
#259
10-17-2006, 06:33 PM
|
|||
|
|||
|
Re: Say goodbye to the dream
[ QUOTE ]
Why do people refuse to admit how much people make on Wall Street? Enough with the "NO WAY PEOPLE MAKE 100k THEIR SECOND YEAR" stuff- first year Goldman analysts made anywhere from 130k to 170k last year with bonus. [/ QUOTE ] I have two friends who graduated from Michigan this year. One is working for Goldman Sachs and the other is working for Bears Stearns. Their salaries are both high fifties to low sixties. You said first year Goldman analysts, but you didn't mention that you need experience for that position. It's not something you get straight out of college.
|
|
#260
10-17-2006, 07:52 PM
|
|||
|
|||
|
Re: Say goodbye to the dream
[ QUOTE ]
[ QUOTE ] [ QUOTE ] my blog sucks [/ QUOTE ] that's cause you shouldn't have your own, you should do it on y site www.destinyboy.com that way you don't have to force al lot of entries of low quality, just do it once in a while along with others and have just the best [/ QUOTE ] how many people post on your site? and is there any way to know who is posting? [/ QUOTE ] yeah, there is a password to post which i share with just a few people who i invite to post
|
 |
| Thread Tools | |
| Display Modes | |
|
|
Linear Mode
