| Topic Name: |
First new york securities |
| Message Name: |
Fair enough, gastrader, |
| Date Posted: |
11/25/2003 |
| In Reply To: |
As I have intimate knowledge of a few BBs trading floors I can't comment further.
There are very few shops that have zero deal flow except for funds. It's how they make money. Having said that, the ones that only spec trade are generally the ones that are never mentioned in the media or online hence only those inside the industry know of them.
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| Message: |
Although, quite frankly, I don't see what sensitive inside info I was brushing up against in inquiring about spec desks. In any event, gastrader, I appreciate all your info. One more, if you might indulge me:
With all that's been said, it seems to me the best entry opp for one who wants to "prop" trade equities(as earlier defined, taking speculative positions with firm capital), would be with a firm like FNYS. Am I correct in that assumption?
My logic: since it appears BBs tend to hire such traders from within, someplace like FNYS looks like the place to start. I don't think hedge funds tend to have great entry opps unless you know someone (I guess that's the same anywhere, but nevertheless), and since I suppose I don't know about these shadowy shops you alluded to, that pretty much limits where one can go in the first place, correct? Once again, I do sincerely appreciate any/all info you could give to me (even the vauge posts about the super-secret guerilla shops - :)
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