Someone in fixed income created a Q&A Vp trader thread. I thought I would do the same with Equity. In trading asset class matters a lot, fixed income and equity trader have totally different comp, career, skillset, risk mandate.
A bit about me. I started in the industry 10 years ago, 1year internship in exotics then 3 years managing delta one books. Moved to equity, algo trading and been there ever since.
Ask me questions!
Can you give us interview prep advice? What was your career path like?
how do you keep composure when the stock you're making a market in is dumping? do you only keep a certain % of book in a single company so total exposure isn’t too much?
1. How deep is your own fundamental research on the equities? Or are you primarily going by what your sell-side analyst is telling you?
2. How often and in what capacity do you interact with other traders at your firm who might be looking at the same company as you are, but from a fixed-income perspective?
3. If you are doing your own, how would you say that it compares and contrasts with what an investment analyst/PM at a LO or L/S hedge fund or a mutual fund (Rowe, Wellington, Capital, Fidelity) would be doing?
4. How many sectors do you look at? What's your geographical coverage?
5. Investment time frame? I am guessing its very opportunistic
6. Since you started at your desk, what % of people (from your desk) have been fired due to events not under their control i.e. not their own fuck-ups? Average tenue at your desk? What did these people mostly end up doing afterwards?
7. What in your opinion makes this better role/job than doing public markets investing at HF/Mutual Funds? Despite being a former IB analyst, I am not too familiar with the trading floor as much as I would like
Clarifying third question: *if you are doing your own fundamental research
How does a career in equities contrast to a career in FICC at a sell side bank?
bump
what made you want to go into equities and what desk would you say is the best in terms of learning as a junior?
I thought there were no more equity traders...didnt they show that UBS trading floor example and now there like two ? Please clarify thank you
OP said he’s in algo trading. Also Equity includes derivatives (ss, index, exotics etc…)
1. How does compensation breakdown for traders with and without a book?
2. I've noticed that some traders can spend years and years in the VP position (4 - 8), do you have any idea why that is the case?
3. How much does firm name matter the more senior you are?
What attracted you to Algo Trading as opposed to the other Equity desks you’ve mentioned?
What are the differences in index rebalancing on the buy side vs sell side?
Out of your observations, what has been the best traits of someone you regard as a very good or unique trader? Also can you highlight some examples of trades or habits they have thank you
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