Anyone in the Hedge Fund/Trading/IB business?
Old 12-10-2010, 02:49 PM   #1 (permalink)
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Default Anyone in the Hedge Fund/Trading/IB business?

Interested to talking to any finance or business students on this site.

I'm a 2008 college grad (B.A.) and already worked for two hedge funds. Unfortunate how I entered the job market and then within 4 months Lehman blew up and then my first firm went under several months later. Just left my second fund because the $ was measly compared to NY and hated living in the South. Now looking for something in the NY/CT area again or just going to pursue an MBA.

Curious if you guys are aware of any big funds... do they register in Canada or go off-shore? How's taxes in CA? Is it popular for college grads to pursue these jobs in Toronto? I have a good friend who worked in trading for RBC but left to a smaller firm because they refused to give him a competitive salary (NY office). I think RBC may have sold their trading division anyway.

TMX, for example, has some decent volume, but no one talks about their market here. What's the big firms?

If interested in swapping opinions/advice, feel free to PM privately. Or just post.
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Old 12-10-2010, 04:37 PM   #2 (permalink)

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RBC hasn't sold off their trading part.

RBC still has GAM (Global Asset Management) and they handle all their large portfolios.

No one probably talks about the TSX because it's all commodity driven unlike the NYSE where it's more the financial sector which drives it.
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Old 12-10-2010, 05:03 PM   #3 (permalink)
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Interesting... is that wealth management? I think he worked on the proprietary side... buy-side. Unsure exactly.

Yes Canada's economy is very commodity driven... hence the Canadian dollar's rise. And the Aussie dollar.

I used to do a lot of analysis in steel, oil, and natural gas, and railroads (coal). A lot with commodities & industrials in general. Potash (fertilizer comp - Ag) is Canadian right... but registered in the US too? Kind of like Rimm.

Anyway, working on the buyside without managing a lot of money is a sucker's game. Don't really want to do it again. Pretty much have to extract money from the markets. Better when you're a few billion dollars fund and that small management fee and 30% of profits add up... even when your returns correlate with the S&P 500 or whatnot.
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