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good luck man ull prolly need it!
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On November 09 2011 05:39 Tomazi wrote:Show nested quote +On November 08 2011 13:50 AcrossFiveJulys wrote:On November 08 2011 13:16 reincremate wrote:On November 08 2011 11:32 BrTarolg wrote:
So i'm chasing my dream. I'm putting everything aside to do it. I'll be sitting in front of a screen every day, for long hours, for the best years of my life.
Nobody is ever going to hear about me, i'm not gonna become famous. I'm not gonna contribute to society.
I'm going to be the scum whos gonna make my fortune from the next financial crisis and global recession.
And i'll be damned, i'm going to put my heart and soul into it. I'm going to work the hardest i've ever worked in my life. I'm going to work so hard its going to be more important than eating, more important than sleeping. The guys i know who work at these places sleep about 4 hours a night.
The absolute key to success is working hard. You don't need talent, you don't need gifts, contacts or luck. You need to work hard, and work your damn ass off.
I'm going to work so hard, and why? Because i'm chasing my dream. What if I wrote a blog post with the exact same kind of cheesy hollywood chasing a dream crap except I said wanted to be a successful serial killer? Or something more innocuous but nonetheless unethical like world's greatest pickpocket? Or maybe something legal like the CEO of Monsanto or Nike or dictator of some country somewhere? Would people find that endearing or inspirational? The difference is he's calling himself "scum" for effect. Just because the guy is going to work for a company that makes smart investments doesn't mean he's going to steal everyone's money. FFS people. OP, I don't see why you are so hard on yourself about everything. It's so much better to be optimistic about your abilities or else you form mental barriers. His passion is for an industry that contributes nothing to society. It is, in effect, stealing from people. Just with no face to blame. Commercial banking is actually better. Trading is making money from money because fuck everyone else. I am proud that my career path will be beneficial for humanity...
In what way are traders stealing money. All they're doing is buying and selling, more or less the same as a trader on ebay. The only difference is the market they trade in is harder for people to understand, and thus is seen by society to be simply fabricating money.
On November 09 2011 06:58 Tomazi wrote:
If the people needing liquidity were doing something worthwhile, society will (would) help make it happen.
Do you think the stock market would work as well as it does to value companies if there were no liquidity in the market. You'd have to wait days between trades, as only those wanting to hold long-term would be buying, which in turn raises the question of who would you be buying from. Imagine if you wanted a loan from a bank, and they told you that instead of just giving you the loan themselves (providing liquidity in the market of savings/loans) that you would have to personally find somebody who was willing to lend you that money. Do you not see how this is inefficient and incredibly backwards?
Liquidity in the markets is worthwhile, and society has evidently made it happen.
And to the OP, great blog, really inspiring.
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I dislike this. You say frequently you're not in it for the money, and then say a few times, "I'm going to earn my big bonus", and the worst part was, "I'm going to be the scum whos gonna make my fortune from the next financial crisis and global recession."
That's pretty... horrific. That you're having thoughts of gaining money off others misfortune. I don't particularly know why this is getting applauded.
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On November 09 2011 07:22 Sable42 wrote:Show nested quote +On November 09 2011 05:39 Tomazi wrote:On November 08 2011 13:50 AcrossFiveJulys wrote:On November 08 2011 13:16 reincremate wrote:On November 08 2011 11:32 BrTarolg wrote:
So i'm chasing my dream. I'm putting everything aside to do it. I'll be sitting in front of a screen every day, for long hours, for the best years of my life.
Nobody is ever going to hear about me, i'm not gonna become famous. I'm not gonna contribute to society.
I'm going to be the scum whos gonna make my fortune from the next financial crisis and global recession.
And i'll be damned, i'm going to put my heart and soul into it. I'm going to work the hardest i've ever worked in my life. I'm going to work so hard its going to be more important than eating, more important than sleeping. The guys i know who work at these places sleep about 4 hours a night.
The absolute key to success is working hard. You don't need talent, you don't need gifts, contacts or luck. You need to work hard, and work your damn ass off.
I'm going to work so hard, and why? Because i'm chasing my dream. What if I wrote a blog post with the exact same kind of cheesy hollywood chasing a dream crap except I said wanted to be a successful serial killer? Or something more innocuous but nonetheless unethical like world's greatest pickpocket? Or maybe something legal like the CEO of Monsanto or Nike or dictator of some country somewhere? Would people find that endearing or inspirational? The difference is he's calling himself "scum" for effect. Just because the guy is going to work for a company that makes smart investments doesn't mean he's going to steal everyone's money. FFS people. OP, I don't see why you are so hard on yourself about everything. It's so much better to be optimistic about your abilities or else you form mental barriers. His passion is for an industry that contributes nothing to society. It is, in effect, stealing from people. Just with no face to blame. Commercial banking is actually better. Trading is making money from money because fuck everyone else. I am proud that my career path will be beneficial for humanity... In what way are traders stealing money. All they're doing is buying and selling, more or less the same as a trader on ebay. The only difference is the market they trade in is harder for people to understand, and thus is seen by society to be simply fabricating money. Show nested quote +On November 09 2011 06:58 Tomazi wrote:
If the people needing liquidity were doing something worthwhile, society will (would) help make it happen. Do you think the stock market would work as well as it does to value companies if there were no liquidity in the market. You'd have to wait days between trades, as only those wanting to hold long-term would be buying, which in turn raises the question of who would you be buying from. Imagine if you wanted a loan from a bank, and they told you that instead of just giving you the loan themselves (providing liquidity in the market of savings/loans) that you would have to personally find somebody who was willing to lend you that money. Do you not see how this is inefficient and incredibly backwards? Liquidity in the markets is worthwhile, and society has evidently made it happen. And to the OP, great blog, really inspiring.
Within this capitalist system, you are right.
Except the trading and ebay analogy, it's very flawed even in this system. The end result on ebay is that some consumer gets what they want, even if the guy selling is just trading his way up. Financial trading is mostly with theoretical money.
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Great read! Work hard and capture your dream bro!
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What it is about this particular endeavour that makes you feel like you'll be able to sustain your interest/commitment beyond that tipping point where you usually bail out and seek something new?
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On November 09 2011 07:25 Jedclark wrote:
I dislike this. You say frequently you're not in it for the money, and then say a few times, "I'm going to earn my big bonus", and the worst part was, "I'm going to be the scum whos gonna make my fortune from the next financial crisis and global recession."
That's pretty... horrific. That you're having thoughts of gaining money off others misfortune. I don't particularly know why this is getting applauded.
You have to know that (and he explained this) that in trading, money is the measure of success. Money is your score. Money is everything. There is no fallacy in his statement, if you just understand what he is really saying.
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On November 09 2011 08:11 Tomazi wrote:Show nested quote +On November 09 2011 07:22 Sable42 wrote:On November 09 2011 05:39 Tomazi wrote:On November 08 2011 13:50 AcrossFiveJulys wrote:On November 08 2011 13:16 reincremate wrote:On November 08 2011 11:32 BrTarolg wrote:
So i'm chasing my dream. I'm putting everything aside to do it. I'll be sitting in front of a screen every day, for long hours, for the best years of my life.
Nobody is ever going to hear about me, i'm not gonna become famous. I'm not gonna contribute to society.
I'm going to be the scum whos gonna make my fortune from the next financial crisis and global recession.
And i'll be damned, i'm going to put my heart and soul into it. I'm going to work the hardest i've ever worked in my life. I'm going to work so hard its going to be more important than eating, more important than sleeping. The guys i know who work at these places sleep about 4 hours a night.
The absolute key to success is working hard. You don't need talent, you don't need gifts, contacts or luck. You need to work hard, and work your damn ass off.
I'm going to work so hard, and why? Because i'm chasing my dream. What if I wrote a blog post with the exact same kind of cheesy hollywood chasing a dream crap except I said wanted to be a successful serial killer? Or something more innocuous but nonetheless unethical like world's greatest pickpocket? Or maybe something legal like the CEO of Monsanto or Nike or dictator of some country somewhere? Would people find that endearing or inspirational? The difference is he's calling himself "scum" for effect. Just because the guy is going to work for a company that makes smart investments doesn't mean he's going to steal everyone's money. FFS people. OP, I don't see why you are so hard on yourself about everything. It's so much better to be optimistic about your abilities or else you form mental barriers. His passion is for an industry that contributes nothing to society. It is, in effect, stealing from people. Just with no face to blame. Commercial banking is actually better. Trading is making money from money because fuck everyone else. I am proud that my career path will be beneficial for humanity... In what way are traders stealing money. All they're doing is buying and selling, more or less the same as a trader on ebay. The only difference is the market they trade in is harder for people to understand, and thus is seen by society to be simply fabricating money. On November 09 2011 06:58 Tomazi wrote:
If the people needing liquidity were doing something worthwhile, society will (would) help make it happen. Do you think the stock market would work as well as it does to value companies if there were no liquidity in the market. You'd have to wait days between trades, as only those wanting to hold long-term would be buying, which in turn raises the question of who would you be buying from. Imagine if you wanted a loan from a bank, and they told you that instead of just giving you the loan themselves (providing liquidity in the market of savings/loans) that you would have to personally find somebody who was willing to lend you that money. Do you not see how this is inefficient and incredibly backwards? Liquidity in the markets is worthwhile, and society has evidently made it happen. And to the OP, great blog, really inspiring. Within this capitalist system, you are right. Except the trading and ebay analogy, it's very flawed even in this system. The end result on ebay is that some consumer gets what they want, even if the guy selling is just trading his way up. Financial trading is mostly with theoretical money.
Theoretical money? What on earth are you talking about? Liquid financial securities can be turned into hard cash pretty quickly, I would not call it theoretical, thats bullshit.
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France8650 Posts
Why trader ? lol Your dream is to be the "scum"... There is something off with that. Your dream is making money, I'd say it's a shitty dream...
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On November 09 2011 08:11 Tomazi wrote:Show nested quote +On November 09 2011 07:22 Sable42 wrote:On November 09 2011 05:39 Tomazi wrote:On November 08 2011 13:50 AcrossFiveJulys wrote:On November 08 2011 13:16 reincremate wrote:On November 08 2011 11:32 BrTarolg wrote:
So i'm chasing my dream. I'm putting everything aside to do it. I'll be sitting in front of a screen every day, for long hours, for the best years of my life.
Nobody is ever going to hear about me, i'm not gonna become famous. I'm not gonna contribute to society.
I'm going to be the scum whos gonna make my fortune from the next financial crisis and global recession.
And i'll be damned, i'm going to put my heart and soul into it. I'm going to work the hardest i've ever worked in my life. I'm going to work so hard its going to be more important than eating, more important than sleeping. The guys i know who work at these places sleep about 4 hours a night.
The absolute key to success is working hard. You don't need talent, you don't need gifts, contacts or luck. You need to work hard, and work your damn ass off.
I'm going to work so hard, and why? Because i'm chasing my dream. What if I wrote a blog post with the exact same kind of cheesy hollywood chasing a dream crap except I said wanted to be a successful serial killer? Or something more innocuous but nonetheless unethical like world's greatest pickpocket? Or maybe something legal like the CEO of Monsanto or Nike or dictator of some country somewhere? Would people find that endearing or inspirational? The difference is he's calling himself "scum" for effect. Just because the guy is going to work for a company that makes smart investments doesn't mean he's going to steal everyone's money. FFS people. OP, I don't see why you are so hard on yourself about everything. It's so much better to be optimistic about your abilities or else you form mental barriers. His passion is for an industry that contributes nothing to society. It is, in effect, stealing from people. Just with no face to blame. Commercial banking is actually better. Trading is making money from money because fuck everyone else. I am proud that my career path will be beneficial for humanity... In what way are traders stealing money. All they're doing is buying and selling, more or less the same as a trader on ebay. The only difference is the market they trade in is harder for people to understand, and thus is seen by society to be simply fabricating money. On November 09 2011 06:58 Tomazi wrote:
If the people needing liquidity were doing something worthwhile, society will (would) help make it happen. Do you think the stock market would work as well as it does to value companies if there were no liquidity in the market. You'd have to wait days between trades, as only those wanting to hold long-term would be buying, which in turn raises the question of who would you be buying from. Imagine if you wanted a loan from a bank, and they told you that instead of just giving you the loan themselves (providing liquidity in the market of savings/loans) that you would have to personally find somebody who was willing to lend you that money. Do you not see how this is inefficient and incredibly backwards? Liquidity in the markets is worthwhile, and society has evidently made it happen. And to the OP, great blog, really inspiring. Within this capitalist system, you are right. Except the trading and ebay analogy, it's very flawed even in this system. The end result on ebay is that some consumer gets what they want, even if the guy selling is just trading his way up. Financial trading is mostly with theoretical money.
But that is the whole point of the analogy, which you appear to be missing. Trading financial securities is pretty much the same as trading physical goods. Just because the good is more of an abstract idea and not tangible does not mean you are not matching up willing buyers and sellers. Nobody is being forced to buy or sell these securities.
On November 09 2011 08:54 WhiteDog wrote:
Why trader ? lol Your dream is to be the "scum"... There is something off with that. Your dream is making money, I'd say it's a shitty dream...
I'm guessing you don't really understand how the financial system work, and are just going along with the stereotypical view that people have at the moment thanks to the media and governments using traders and banks as scapegoats.
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i dont at all see how anyone could read the entire post and be supportive towards OP. i fear for this world, i truly do
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great read man, great read....but your business ruines our world....
i wish less people had your dream 
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Good luck chasing your dream/money and "working your ass off". Maybe in your mid-40s you'll realize what you did...
Until then, good luck again.
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On November 09 2011 09:11 ulan-bat wrote:
Good luck chasing your dream/money and "working your ass off". Maybe in your mid-40s you'll realise what you did...
Until then, good luck again.
most people even realize it before the mid 40s, but they dont care :D
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Why are people pre-conditioned to dislike traders before even understanding what they do.
Best of luck to the OP.
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On November 09 2011 09:29 flanksteak wrote:
Why are people pre-conditioned to dislike traders before even understanding what they do.
Best of luck to the OP.
Probably because people are preconditioned to believe that money is bad, gaining/wanting money is bad, and thus making money with money must therefore be super bad. Just a total lack of understanding really.
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Interesting read, although your constant stating of your lack of interest in monetary return backfired for me.
On November 08 2011 12:20 Roe wrote:I found this very sobering Show nested quote +So i'm chasing my dream. I'm putting everything aside to do it. I'll be sitting in front of a screen every day, for long hours, for the best years of my life.
Nobody is ever going to hear about me, i'm not gonna become famous. I'm not gonna contribute to society. I'm going to be the scum whos gonna make my fortune from the next financial crisis and global recession.
And i'll be damned, i'm going to put my heart and soul into it. I'm going to work the hardest i've ever worked in my life. I'm going to work so hard its going to be more important than eating, more important than sleeping. The guys i know who work at these places sleep about 4 hours a night.
There's a chance this might happen, not a large one, so I'll wish you the best of luck.
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On November 09 2011 09:41 Sable42 wrote:Show nested quote +On November 09 2011 09:29 flanksteak wrote:
Why are people pre-conditioned to dislike traders before even understanding what they do.
Best of luck to the OP. Probably because people are preconditioned to believe that money is bad, gaining/wanting money is bad, and thus making money with money must therefore be super bad. Just a total lack of understanding really.
It relates more to them getting bonuses(that the media point out whenever they can) when they get their gambles right and the taxpayer having to foot bills when they don't.
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On November 09 2011 09:55 fortheGG wrote:Show nested quote +On November 09 2011 09:41 Sable42 wrote:On November 09 2011 09:29 flanksteak wrote:
Why are people pre-conditioned to dislike traders before even understanding what they do.
Best of luck to the OP. Probably because people are preconditioned to believe that money is bad, gaining/wanting money is bad, and thus making money with money must therefore be super bad. Just a total lack of understanding really. It relates more to them getting bonuses(that the media point out whenever they can) when they get their gambles right and the taxpayer having to foot bills when they don't.
Perhaps yes. This was however the big banks, not the proprietary traders. I don't believe any of them were bailed out if they were going under. They've simply been lumped under the term financial institution, so in the eye of the media are inherently evil.
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On November 09 2011 09:41 Sable42 wrote:Show nested quote +On November 09 2011 09:29 flanksteak wrote:
Why are people pre-conditioned to dislike traders before even understanding what they do.
Best of luck to the OP. Probably because people are preconditioned to believe that money is bad, gaining/wanting money is bad, and thus making money with money must therefore be super bad. Just a total lack of understanding really.
Are you guys serious?
He admitted to going into prop trading - that's about as close to legal gambling as you can get without being a gambler by definition. Also, this whole liquidity argument is nonsense. The amount of liquidity he's going to add to the market is completely negligible. It's not like he's going to sell-side doing market making.
Now, I'm not saying he's not adding any value to society. Yes, wealthy people need to "invest" their money.. blah blah. I'm just saying it's kind of debatable and I would argue that the societal value of most professions is not so vague. Compare being a prop trader to say being a medical doctor, or engineer, or scientist for example....
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EPT
