Re:Air Force Designed, Built, and Flew a Brand-New Fighter J...
by ylee on Wednesday September 16, 2020 @06:54PM
(#24498983)
>You can get straight As from all your Harvard profs, but you'll never make the grade unless you're decisive: even a timely wrong decision is better than no decision
What I wrote in my journal after joining an investment bank's equity research team:
"Good dinner with two traders, x and y; they have both been in the business for more than a decade and shared many interesting experiences and insights into the business. I did not realize that our traders very much need information flow, preferably proprietary, in order to entice their buyside counterparts to trade through them. It almost doesn't matter whether the information is accurate or not; what counts is being distinctive".
I well remember one of the traders slamming his fist on the table complaining about how a former analyst was very bad at returning phone calls, and saying that being 52% right (meaning 48% wrong) is better than a higher correct percentage but not being available.
What I wrote in my journal after joining an investment bank's equity research team:
"Good dinner with two traders, x and y; they have both been in the business for more than a decade and shared many interesting experiences and insights into the business. I did not realize that our traders very much need information flow, preferably proprietary, in order to entice their buyside counterparts to trade through them. It almost doesn't matter whether the information is accurate or not; what counts is being distinctive".
I well remember one of the traders slamming his fist on the table complaining about how a former analyst was very bad at returning phone calls, and saying that being 52% right (meaning 48% wrong) is better than a higher correct percentage but not being available.