Question for the city boys
Discussion
eyebeebe said:
Horse_Apple said:
Retard said:
g4ry13 said:
The sensible route is a settlements roll or trade support roll at a respected bank/brokerage that will fund you to do an MBA after a couple of years, from which you move across into managing. It is a tough route but honest and rewarding.
I can't see any banks putting up the 40 large it would cost to do a decent MBA for a settlements monkey with 2 years experience and by the time you've made it to VP to even be considered for that sort of thing you're too old/too high up the middle office/back office ladder to move into a trading role anyway!
. In essence it doesn't cost the company anything at all, it's pure profit.Retard said:
Anyway, here are some good books you should read, although you'll probably have read most of them:
Liar's Poker
When genius failed
A random walk across Wall Street
A non random walk across Wall Street
Beyond greed and fear
Irrational exuberance
Extraordinary popular delusions and the madness of crowds
The misbehaviour of markets (although the version currently on sale on Amazon has plenty of misprints in it, this is a very important book)
The Black Swan: The impact of the highly improbable.
Options, Futures and Derivatives (or something like that, it's by a guy called Hull)
Every single one of these is a riveting read (apart from Hull and beyond greed and feer), and more imporantly a lot of this stuff isn't touched upon in more conventional texts.
Sorry to drag up an old thread but just wanted to say the first two books on that list are a cracking read. I bought them a week or two ago after seeing them here and couldn't put them down...Liar's Poker
When genius failed
A random walk across Wall Street
A non random walk across Wall Street
Beyond greed and fear
Irrational exuberance
Extraordinary popular delusions and the madness of crowds
The misbehaviour of markets (although the version currently on sale on Amazon has plenty of misprints in it, this is a very important book)
The Black Swan: The impact of the highly improbable.
Options, Futures and Derivatives (or something like that, it's by a guy called Hull)
Every single one of these is a riveting read (apart from Hull and beyond greed and feer), and more imporantly a lot of this stuff isn't touched upon in more conventional texts.
If you are looking for further reading try Reminiscences of a stock operator, written by Edwin Lefevre, published by Wiley....This was suggested reading to me many years ago and it is suprising how well it is respected in financial circles to this day.
http://www.amazon.co.uk/Reminiscences-Stock-Operat...
http://www.amazon.co.uk/Reminiscences-Stock-Operat...
You can find it free online! I found it on a legit site, not one of those dodgy download sites.
ETA: http://www.michaelcovel.com/archives/001062.html
ETA: http://www.michaelcovel.com/archives/001062.html
Edited by shadowninja on Wednesday 28th November 22:15
If you read it, I hope that you get the real message out, not the one that the author wants yo uto.
Lefevre kept getting his stake money together, and then simply gambling it. Each time he lost it all, he would believe he had spotted the one flaw in an otherwise perfect trading scheme, and convince himself that next time he woudl not make the same mistake.
It is a common view, even nowadays. For an example of how a trader can get totally hung up on a losing scheme, believing that its flaws were simply because he got sloppy, look at DJCs "foolproof" system that he posted on here a while ago. Despite having the problems pointed out, and despite everyone who tried it losing their money, he remained convinced that it would work in the long run, if just he could maintain his discipline...
Lefevre kept getting his stake money together, and then simply gambling it. Each time he lost it all, he would believe he had spotted the one flaw in an otherwise perfect trading scheme, and convince himself that next time he woudl not make the same mistake.
It is a common view, even nowadays. For an example of how a trader can get totally hung up on a losing scheme, believing that its flaws were simply because he got sloppy, look at DJCs "foolproof" system that he posted on here a while ago. Despite having the problems pointed out, and despite everyone who tried it losing their money, he remained convinced that it would work in the long run, if just he could maintain his discipline...
cannedheat said:
Retard said:
Anyway, here are some good books you should read, although you'll probably have read most of them:
Liar's Poker
When genius failed
A random walk across Wall Street
A non random walk across Wall Street
Beyond greed and fear
Irrational exuberance
Extraordinary popular delusions and the madness of crowds
The misbehaviour of markets (although the version currently on sale on Amazon has plenty of misprints in it, this is a very important book)
The Black Swan: The impact of the highly improbable.
Options, Futures and Derivatives (or something like that, it's by a guy called Hull)
Every single one of these is a riveting read (apart from Hull and beyond greed and feer), and more imporantly a lot of this stuff isn't touched upon in more conventional texts.
Sorry to drag up an old thread but just wanted to say the first two books on that list are a cracking read. I bought them a week or two ago after seeing them here and couldn't put them down...Liar's Poker
When genius failed
A random walk across Wall Street
A non random walk across Wall Street
Beyond greed and fear
Irrational exuberance
Extraordinary popular delusions and the madness of crowds
The misbehaviour of markets (although the version currently on sale on Amazon has plenty of misprints in it, this is a very important book)
The Black Swan: The impact of the highly improbable.
Options, Futures and Derivatives (or something like that, it's by a guy called Hull)
Every single one of these is a riveting read (apart from Hull and beyond greed and feer), and more imporantly a lot of this stuff isn't touched upon in more conventional texts.
cannedheat said:
Sorry to drag up an old thread but just wanted to say the first two books on that list are a cracking read. I bought them a week or two ago after seeing them here and couldn't put them down...
The best is definitely the madness of crowds, and it's about three quid.... get it now!Retard said:
cannedheat said:
Sorry to drag up an old thread but just wanted to say the first two books on that list are a cracking read. I bought them a week or two ago after seeing them here and couldn't put them down...
The best is definitely the madness of crowds, and it's about three quid.... get it now!http://www.play.com/Books/Books/4-/273202/Extraord...
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