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Author Topic:   Route to Success
FruitTreeFresh
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posted August 26, 2013 11:25 PM     Click Here to See the Profile for FruitTreeFresh     Edit/Delete Message   Reply w/Quote
Lets share your experiences and how you've made it in your career!

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YoursTrulyAlways
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posted August 27, 2013 05:37 PM     Click Here to See the Profile for YoursTrulyAlways     Edit/Delete Message   Reply w/Quote
.

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FruitTreeFresh
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posted August 29, 2013 12:19 AM     Click Here to See the Profile for FruitTreeFresh     Edit/Delete Message   Reply w/Quote
quote:
Originally posted by YoursTrulyAlways:
You're never going to be truly successful as a pure services provider - that's what a banker is.

Private equity/venture capital combines the banking element with an entrepreneurial spirit..


I know it's getting off track so I copied over. More elaborations please.

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YoursTrulyAlways
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posted August 29, 2013 10:34 AM     Click Here to See the Profile for YoursTrulyAlways     Edit/Delete Message   Reply w/Quote
Consider what private equity is. There is an emerging business that needs financing. You raise capital from a few investors that each gain fractional ownership. The equity sponsor then gets paid cash dividends as the business grows, and thus gets repaid on the original investment. Yet, the equity ownership gets retained. Most of the technology universe was financed this way.

Consider what IB is. Company needs financing or M&A advice. Goes to a bank. The banker raises financing for a fee. The banker is an employee of the bank and gets paid a salary and bonus. The banker will always just be an employee. Never the boss. Even the CEO of a bank is only an employee.

If you want to be truly rich, you must own something. A banker is only a well paid service provider, which is a nice way of describing a ***** for rent.

You realize that traders can do fabulously well in a down cycle, right?

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FruitTreeFresh
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posted August 30, 2013 09:21 AM     Click Here to See the Profile for FruitTreeFresh     Edit/Delete Message   Reply w/Quote
Not really. Not all traders made it. But the ones that are really good stay in the market for a long time.

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NoRainNoRainbows
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posted August 30, 2013 09:25 AM     Click Here to See the Profile for NoRainNoRainbows     Edit/Delete Message   Reply w/Quote
Going to agree, if you want to be rich take a huge risk.

but also not everyone who took a huge risk, got it well paid off, some people just lose what they risked without gain.

only way around it is to research everything thoroughly and get to know it so well, and how it behaves, and how other people feel about it going up and down in the market....doesn't mean that whatever you do will become profitable, but it sure minimizes the risk by a margin.

again agree, you won't become super rich by being an employee for ever...but this is what most people do, as there is security in that (most of the time)...like they think a steady income worth more than a big risk that can go both ways....

i hope my ramblings made any sense over here!!

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YoursTrulyAlways
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posted August 30, 2013 07:49 PM     Click Here to See the Profile for YoursTrulyAlways     Edit/Delete Message   Reply w/Quote
And that's why I chose the more secure path and have up the upside.

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NoRainNoRainbows
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posted August 31, 2013 06:14 AM     Click Here to See the Profile for NoRainNoRainbows     Edit/Delete Message   Reply w/Quote
yes, but you had two things a family , and are in the upper levels of your career, so it was good for you to chose the secure way.

Fruits, sounds younger, and not sure but coming across as still single. of course i'd also say if you don't have enough money saved for emergencies don't take a risk. enough money = ease of mind, and so relaxed and good thoughts.
lack of it=stress, and a lot of time not really good decisions, and even stress on relations and families.
anyway i still would advocate the secure side, and saving your own money to start you business or whatever later on.
as the other thing is just speculating and really i think a fair amount of luck is needed no matter how good you are at your job.

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FruitTreeFresh
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posted August 31, 2013 10:19 PM     Click Here to See the Profile for FruitTreeFresh     Edit/Delete Message   Reply w/Quote
Is being single detrimental to my career? hahah

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NoRainNoRainbows
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posted September 01, 2013 06:31 AM     Click Here to See the Profile for NoRainNoRainbows     Edit/Delete Message   Reply w/Quote
lol depends....i know some companies actually give more benefits if the person has 'family', so some people end up getting married just so they can ask for help with housing, or more money etc,...

and other companies do their best to break up the family units of their highest achievers, so that the guy or woman are fully dedicated to their job only. (like a crazy 'other woman' in other words lol)

also don't underestimate what having or not having a partner can sometimes do to your thinking and drive when it comes to career (some ppl are good luck for each other, others the opposite is true)

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Randall
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posted September 02, 2013 02:20 PM     Click Here to See the Profile for Randall     Edit/Delete Message   Reply w/Quote
Well-said, Rain.

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FruitTreeFresh
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posted September 03, 2013 04:22 AM     Click Here to See the Profile for FruitTreeFresh     Edit/Delete Message   Reply w/Quote
Anyways, how do we get in market research jobs in finance industry?

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YoursTrulyAlways
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posted September 03, 2013 10:55 AM     Click Here to See the Profile for YoursTrulyAlways     Edit/Delete Message   Reply w/Quote
What sort of degree do you have and what related experience do you have? What's your definition of "market research?" Are you referring to debt or equity?

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FruitTreeFresh
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posted September 03, 2013 10:25 PM     Click Here to See the Profile for FruitTreeFresh     Edit/Delete Message   Reply w/Quote
Generic business degree. Working towards getting a Masters and looking towards working on derivatives market research. Middle office all along.

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Randall
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posted September 04, 2013 10:21 AM     Click Here to See the Profile for Randall     Edit/Delete Message   Reply w/Quote
Good luck to you!

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YoursTrulyAlways
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posted September 04, 2013 11:31 AM     Click Here to See the Profile for YoursTrulyAlways     Edit/Delete Message   Reply w/Quote
I would imagine that derivatives research would require you to be a quant. The entire concept of the Black Scholes pricing model is mathematical. Myron Scholes was one of my adjunct professors btw, in addition to Rob Merton.

You need a finance specialization. Is your interest in swaps/caps/floors or on commodity/currency forwards/options? Or are you more of a structured finance person?

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NoRainNoRainbows
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posted September 04, 2013 11:42 AM     Click Here to See the Profile for NoRainNoRainbows     Edit/Delete Message   Reply w/Quote

Don't worry about it, if anything i am seeing around is a sign, it seems like u can get into anywhere in banking even with a degree in hairdressing these days.

to a less obvious extent, i have a colleague whose degree is in advertising, her MBA in advertising to, but she is working in market research in a bank near here, simply through her connections, and somehow how she tied her MBA to what she could do for the bank...so anything goes, just build your connections and market yourself in accordance with what you want to do.

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NoRainNoRainbows
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posted September 04, 2013 11:44 AM     Click Here to See the Profile for NoRainNoRainbows     Edit/Delete Message   Reply w/Quote
though yes, if you are working with money it is best to have both the bachelors and MBA in finance or a number related thing...but of course i'm biased, and the state of the economy in many places, should make it clear why this is the 'better' way to go with it.

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FruitTreeFresh
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posted September 05, 2013 08:50 AM     Click Here to See the Profile for FruitTreeFresh     Edit/Delete Message   Reply w/Quote
quote:
Originally posted by NoRainNoRainbows:

Don't worry about it, if anything i am seeing around is a sign, it seems like u can get into anywhere in banking even with a degree in hairdressing these days.

to a less obvious extent, i have a colleague whose degree is in advertising, her MBA in advertising to, but she is working in market research in a bank near here, simply through her connections, and somehow how she tied her MBA to what she could do for the bank...so anything goes, just build your connections and market yourself in accordance with what you want to do.


What?! Marketing? She's prolly moving towards IB line.

@YTA, swaps/caps/floors/futures/options yea those things.

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FruitTreeFresh
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posted September 05, 2013 08:54 AM     Click Here to See the Profile for FruitTreeFresh     Edit/Delete Message   Reply w/Quote
quote:
Originally posted by Randall:
Good luck to you!

Thanks Rand!

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YoursTrulyAlways
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posted September 05, 2013 04:55 PM     Click Here to See the Profile for YoursTrulyAlways     Edit/Delete Message   Reply w/Quote
quote:
Originally posted by FruitTreeFresh:
What?! Marketing? She's prolly moving towards IB line.

@YTA, swaps/caps/floors/futures/options yea those things.


Can you price options contracts right now? For example, if I asked you to do a USD floating into SGD fixed flows at current 3M LIBOR and SIBOR, can you do it?

Why wouldn't you want to go into capital markets originations instead?

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Randall
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posted September 06, 2013 01:28 PM     Click Here to See the Profile for Randall     Edit/Delete Message   Reply w/Quote
You're welcome!

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Randall
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posted September 07, 2013 02:32 PM     Click Here to See the Profile for Randall     Edit/Delete Message   Reply w/Quote
You will do great!

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FruitTreeFresh
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posted September 08, 2013 10:02 AM     Click Here to See the Profile for FruitTreeFresh     Edit/Delete Message   Reply w/Quote
quote:
Originally posted by YoursTrulyAlways:
Can you price options contracts right now? For example, if I asked you to do a USD floating into SGD fixed flows at current 3M LIBOR and SIBOR, can you do it?

Why wouldn't you want to go into capital markets originations instead?


That would be a basis swap. Calculate the PV of both legs base on par rates? and the difference between the receive and pay will be the NPV of the swap. Just roughly know this is how it's derived.

There isn't much openings on cap market in SG, more openings on equity.

@Randall, sometimes I feel I'm getting too obsessed with astrology and losing sight on where I should head on the next step on my career. I hate scorpio ascendant. I hate this characteristic of myself.

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Randall
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posted September 08, 2013 02:36 PM     Click Here to See the Profile for Randall     Edit/Delete Message   Reply w/Quote
I think it's a great ASC. Once you decide, it makes you tenacious about attaining your goals.

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