"TAP não sobrevive se se mantiver pública", garante Pinto Luz

[OvosMoles]

todos os bancos nacionais e internacionais têm mesa de prop trading

[Automech]

Pensei que só faziam gestão de património.

[LTCM]

Só por curiosidade, em Portugal existem empresas que apostaram no prop trading ? E tiveram sucesso ?

http://www.pedroarroja.com/

[Automech]

Só por curiosidade, em Portugal existem empresas que apostaram no prop trading ? E tiveram sucesso ?

[rg7803]

Eu não vejo grande novidade neste texto. É uma carta linda, como tantas se escreveram neste país (e nos outros) nos últimos anos, sempre que se pretende aligeirar carga.

Ser trader é uma profissão tão boa ou tão má como ser carpinteiro, pescador, professor, médico ou arquiteto. Terá aspectos bons e menos bons, mas no geral as regras que se aplicam são (ou deviam) semelhantes às restantes profissões.

Naturalmente os bons profissionais progridem, evoluem nas suas carreiras, são recompensados, etc e o menos bons são afastados. É assim na empresa citada ou em qualquer outra empresa do sector privado.

A história dos supercomputadores e da blackbox, etc é a história da carochinha que se aplica para justificar a dispensa naqueles considerados a mais.

Eu pessoalmente, ossos do ofício, já tive de fazer tantas cartas verbais dessas ao longo dos anos, que já lhes perdi a conta.

Tirando o aspecto obvio da velocidade (o fluxo da informação é incomparavelmente mais rapido agora) não acredito que os mercados tenham mudado tanto assim entre o hoje e o tempo do Ben Franklin...

Life goes on...

[Supermann]

chonfeld Letter to Traders: It is getting tougher
Here is a letter from Steven Schonfeld the owner of Schonfeld Group Holdings LLC a trading group that until now how employed hundreds of prop traders.

Here's a brief overview of the firm and its founder via WSJ


'On December 5, 1988 we started Schonfeld Securities. Very soon after, we started hiring prop traders, and many years later formed "Opus Trading Fund".

Prop trading has always been and will always be an extremely important part of our business and certainly the one that is closest to our hearts. The best Schonfeld traders will always have a place to trade and the capital to maximize their earnings potential. We are committed to them and will always strive to provide an environment for them to succeed. Sadly, however, we are re-thinking the notion that less skilled and less successful traders can be here forever without producing sufficiently for themselves and the firm.

For over 21 years we have always done everything we could, with the traders¹ best interests in mind, to provide careers and opportunities for our traders.

We have always cared more than you could imagine for your careers, happiness, well being and future.

We truly admired many of your passions for trading and for the markets. Over the years we have stood by you and you have stood by us as well. There has been real loyalty on both ends and don't ever think we took your loyalty for granted for one second.

Bull and bear markets come and go. Good trading markets come and go. But unfortunately, our vision of the future of trading has changed. It is getting much tougher for traders to make a living or get by. The direct competition from black boxes, stat arb and high frequency trading which continues to grow at exponential rates is here to stay and has caused us to change our outlook for lesser skilled traders.

Based on the above competitive changes to the trading arena, we feel we are doing an injustice to both our lesser skilled traders and the firm by keeping them around. At best, they will barely get by and that's not why we are in his business or what they should be here for.

Unfortunately the career of trading is not a good option for lesser skilled traders going forward. We will be letting go many of these traders over the next 6-12 months. It is with deep regret and the hardest thing we have had to do since the inception of the firm in 1988. It truly saddens us to do this, but we are doing the traders who will not be making a living going forward a favor, so they can venture into different careers.

It is even more painful since many of you have been so loyal and really good guys.

To those of you that we ultimately let go, we deeply apologize but whether you understand it immediately or not, it truly is best for you.

After discussions with the managers and exhaustive quantitative research our objective will be to reduce the number of traders we have down to those that we believe will make a great or very good living trading for years and years to come with the necessary skills needed.

The traders who are newer to trading will be given some extra time to potentially have their skills stand out. The days of a trader making a living by generating $50k to $75k of adjusted gross annually are over. There is room for only highly motivated, skilled and developing traders that can add value to each other and the firm.

Once again, we wish it was different and are extremely sorry for those that don't make it.'


Notablecalls: Nothing to add really. We know it's happening. The business has gotten tougher yet again.