i.e. U only trade for them...and make profit for THEM....U r not allowed to trade in ur personal account...got it....Though they give u bonuses..... Ur intelligence is used for making them rich and not urself rich.... okay...?
Getting a Invt Banking job is a matter of luck also....Just clearing L 2 may not help.... But CFA L 3 will enhance the chances considerably...
Getting an Invt Banking Job is a function of Education AND EXPERIENCE....
So I would advice u to work in a Small Firm may be Brokerage Co. and gain experience in Corporate Finance, Equity Research etc.... Plz dont look for Salary here...It may be less....( I would rather sugeest no one in finance field should look for salary....as When I did my CA Interns in a Brokerage Firm...All Employees used to earn 2X of their salaries just through CAPITAL GAINS)...CHERISH UR PORTFOLIO...;)
And after 3-4 years...U can certainly look forward to Investment Banking.....
The major flaw of these huge invt banks is they dont let u trade in ur personal account on their tips...They may give u a 25 L P.A. package but then u may not build ur portfolio and become a much more rich person... 😞 A major flaw that was told by my boss.....!
can't you have your relatives (mom/dad,etc) trade on those tips?
....u can give them ur money(which is big including the bonus)...ask them to trade on those tips that u have....then take it back from them or make them trade further with that
time4apogee Sayscan't you have your relatives (mom/dad,etc) trade on those tips?....u can give them ur money(which is big including the bonus)...ask them to trade on those tips that u have....then take it back from them or make them trade further with that
I knew that was comin.... 😉 Its too risky.... We hv to sign the agreements b4 joining and If they come to know abt breaching.... you will be immediately sacked and they will make sure that u will face issues in ur future career 😞
ABCLIKS SaysI knew that was comin.... 😉 Its too risky.... We hv to sign the agreements b4 joining and If they come to know abt breaching.... you will be immediately sacked and they will make sure that u will face issues in ur future career :(
it's right on their part.......but how many employees would they track?....and on what grounds would they find you guilty....for instance, if u believe that 'xyz' is a good buy.....and it's anyways the hottest thing in the market....if your relative buys a good amount of these shares....would you be questioned?...it could be his own reckoning that the stock might do well...or 'possibly' your espousal....but they can't just assume right?
... im assuming that if ur relative maintains a portfolio similar to the ones that u research or trade in,then u mite be in trouble....cuz firing someone on an example akin to the what i mentioned seems implausible
and if u want to earn money anyway...u can ask some unsuspected friend to trade for u....and TRUST HIM to give u ur money back
...give him some commission....obviously!!:biggrin:...everyones greedy!.....and make sure u don't go proclaiming to anyone including ur office colleagues that u made a killing idhar bhi udhar bhi 😉 ...would this work??
@time4apogee Tracking the employees is not difficult thing for IBs... If xyz is hottest thing in the market , a rational investor may not buy it , at least not warren buffet as he says " try to be fearful when others are greedy and greedy when others are fearful "
U can always do it, I am just sayin if one is caught, he will be nowhere...
Ofcorz, when i will join IB , I will take care of not getting in the eye of them 😉
@time4apogee Tracking the employees is not difficult thing for IBs... If xyz is hottest thing in the market , a rational investor may not buy it , at least not warren buffet as he says " try to be fearful when others are greedy and greedy when others are fearful "
U can always do it, I am just sayin if one is caught, he will be nowhere...
Ofcorz, when i will join IB , I will take care of not getting in the eye of them ;)
definitely...and i will be your TRUE FRIEND 😉 ...and u can definitely trust me;)
it's right on their part.......but how many employees would they track?....and on what grounds would they find you guilty....for instance, if u believe that 'xyz' is a good buy.....and it's anyways the hottest thing in the market....if your relative buys a good amount of these shares....would you be questioned?...it could be his own reckoning that the stock might do well...or 'possibly' your espousal....but they can't just assume right?
... im assuming that if ur relative maintains a portfolio similar to the ones that u research or trade in,then u mite be in trouble....cuz firing someone on an example akin to the what i mentioned seems implausible
and if u want to earn money anyway...u can ask some unsuspected friend to trade for u....and TRUST HIM to give u ur money back
Wow, you havent started working yet and have already started thinking of illegal ways to make money. I guess you still havent read the Ethics part of CFA, right ?.
Anyway, insider trading is as big a crime can go as far as white collar crimes go, if caught, you loose your job, your charter, your wife, you will never be hired by any investment bank again (possibly anyone, other than drug peddlers) and face a long jail term.
You might think you are smart enough to beat the system but then everyone who eventually get caught also start out thinking the same. If you are working for a large investment bank then at every step there are checks and balances in place and trust me you will get caught if you are involved in insider trading.
Alright I am done. Back to devising "smart" ways to do insider trading.
Cheers.
Wow, you havent started working yet and have already started thinking of illegal ways to make money. I guess you still havent read the Ethics part of CFA, right ?.
Anyway, insider trading is as big a crime can go as far as white collar crimes go, if caught, you loose your job, your charter, your wife, you will never be hired by any investment bank again (possibly anyone, other than drug peddlers) and face a long jail term.
You might think you are smart enough to beat the system but then everyone who eventually get caught also start out thinking the same. If you are working for a large investment bank then at every step there are checks and balances in place and trust me you will get caught if you are involved in insider trading.
Alright I am done. Back to devising "smart" ways to do insider trading.
Cheers.
hey gabriel....definitely not....im not looking for ways to cheat the system...i was just considering tactics that I-bankers can employ given the wealth of info that they have....but considering the stringent laws and frequent checks that u mentioned, insider trading doesn't seem that easy:banghead:....and no...i still havent started ethics....maybe i should!:biggrin:
ha ha... Cool one...! Being a fund manager , we , cfa community , is identified with, the ones taking ' Calculated Risks '.... So basically , its upto individuals to decide whether such type of deed is a ' Calculated Risk ' or not... :)
I personally , keep ethics above my money....
ha ha... Cool one...! Being a fund manager , we , cfa community , is identified with, the ones taking ' Calculated Risks '.... So basically , its upto individuals to decide whether such type of deed is a ' Calculated Risk ' or not... :)
I personally , keep ethics above my money....
me too:)
and what about guys in the corp fin section??....are they forbidden from trading on their own account?....
Leave it man... Lets first complete our cfa... Then will think of it...
Btw... U active in stock market...?
Leave it man... Lets first complete our cfa... Then will think of it...
Btw... U active in stock market...?
not yet...are you??
the reason i asked tht question was cuz i hav a special interest in corp fin....so any idea if they are forbidden from trading on their own account?
@time4apogee ... No idea abt CF one...
Yup, i worked as a ER analyst in a brokerage firm in my CA intern days... So started buildin ma portfolio... I would advice u to start investing to gain practical knowledge... Der is a sea difference in Bookish knowledge and wat happens practically...!
yes i agree totally with the practical learning thing.....but im still in final yr....i wanted to start investing, but lack of capital and lack of guidance has kept me back.....u had some exposure in ER...so that definitely must have helped....im still clueless....
and btw, im interested in M&A;/PE,etc....not as much in S&T;,ER,etc....but wud love to start building on my own portfolio..maybe ill hav to wait for a while till i finish final yr and then start investing.....
it's right on their part.......but how many employees would they track?....and on what grounds would they find you guilty....for instance, if u believe that 'xyz' is a good buy.....and it's anyways the hottest thing in the market....if your relative buys a good amount of these shares....would you be questioned?...it could be his own reckoning that the stock might do well...or 'possibly' your espousal....but they can't just assume right?
... im assuming that if ur relative maintains a portfolio similar to the ones that u research or trade in,then u mite be in trouble....cuz firing someone on an example akin to the what i mentioned seems implausible
and if u want to earn money anyway...u can ask some unsuspected friend to trade for u....and TRUST HIM to give u ur money back
Its obvious that you haven't seen the rules of working in an I-Bank
When you do see and read all the fine print you will realise what I mean.
You can't cheat them, If you do, you will be in jail and be thrown out of management world. period.
You can't even imagine the stops and checks, half of which are not even told to you 😉
Its obvious that you haven't seen the rules of working in an I-Bank
When you do see and read all the fine print you will realise what I mean.
You can't cheat them, If you do, you will be in jail and be thrown out of management world. period.
You can't even imagine the stops and checks, half of which are not even told to you ;)
alright!:)
i had a question...if someone else can take that... 'are the corp fin guys forbidden from trading on their personal account?'
I have been reading the pg prev posts and I m very surprised that most of pgs are IT employees and almost everyone wants to move to Finance and that too only into investment banking. I wonder why is this herd mentality? People fail to realize that there are other wonderful opportunities, there is much to life beyond a CFA/IIM :-(. Unfortunately everyone takes up a CFA exam without knowing if there is any scope. Whats more sad is, guys with IT exp of 6-7 years too want to join a new field( yes, finance) and what they fail to realize is that they will be starting their career from base level, considered at par with the guys who have no work experience in the field. Actually I see that an IT life is much more chill and comfortable than a finance life. It does pay more too, unless you compare it with a foreign based fin job.
Yet people want to move wasting their solid exp in IT...phew 
I have been reading the pg prev posts and I m very surprised that most of pgs are IT employees and almost everyone wants to move to Finance and that too only into investment banking. I wonder why is this herd mentality? People fail to realize that there are other wonderful opportunities, there is much to life beyond a CFA/IIM :-(. Unfortunately everyone takes up a CFA exam without knowing if there is any scope. Whats more sad is, guys with IT exp of 6-7 years too want to join a new field( yes, finance) and what they fail to realize is that they will be starting their career from base level, considered at par with the guys who have no work experience in the field. Actually I see that an IT life is much more chill and comfortable than a finance life. It does pay more too, unless you compare it with a foreign based fin job.
Yet people want to move wasting their solid exp in IT...phew
i can't say about the guys with 6-7 yrs of IT exp....but ill talk about myself....im in final yr engg (CS)....i hav a campus job offer from an IT MNC....i dnt wanna take that up cuz I like finance....I read finance cause I enjoy it....It's only of late during the placements that I did some introspection and decided that if I really like this stuff why not do it right now...I looked up forums on PG and realized the same thing as you mentioned - IT guys with few yrs wrk ex trying to get into finance....tht's when I told myself, why not try getting into finance right away....im not bothered about how small the firm is....just looking for an opportunity....ill make the most out of it and work my way up...better than wasting a few more years doing IT stuff (things that i never liked at all)....and as far as the CFA thing goes... I know that's one thing that which will teach me core finance from scratch....obviously u want your knowledge and efforts to be recognized and CFA will give me that as well....i looked through the syllabus b4 enrolling for the program...i knew that's what i wanted to learn......
and i feel there's nothing really wrong for an IT person with few yrs wrk ex trying to get into finance....maybe he just discovered his liking for it...or maybe he's lured by the fat paychecks that top notch I-banks are known to give their employees...whatever be the reason....they r finally putting in an efforts to get there through CFA,etc....i know its better if they did that b4 joining the It industry...tht's what im trying to do
and I'm not very sure that people with 6-7 yrs wrk ex start at the ground level....they might be offered associate roles...or maybe not...(i leave that for some experienced I-banker to talk about it here)....cuz with so many yrs of wkr ex and with exposure to project management they wud definitely know a thing or two about the industry which in my opinion I-banks would definitely want to leverage....guys with 2-3 yrs mite possibly end up with entry level roles....i agree to that.....
@time4apogee
is financial modeling anyway related with the cfa ?