Careers in Finance: Sales and Trading (S

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Careers in FinanceSales and Trading(ST)

• Matthew E. Reustle

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Overview

• What is Sales and Trading?
• A Day in the Life
• Is it for me? (Characteristics)
• The Interview
• Further Research Tools

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The Fast Paced World

• The Rocky Relationship
• The War Zone (Trading Floor)
• Equities VS Fixed Income
• Proprietary VS Client Accounts
• Hours Reasonable length, incredible intensity

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A Day in the Life of a Salesmen

• Early Arrival (Generally Before 7 A.M.) (Analyst
  Before 630)
• Chat about WSJ headlines, new ideas
• 730 Morning Call with Equities or FI division
• 730-930 Contact Clients, try and set up deals
• 930 Market Opens- Hit phones (you want to be the
  one calling)
• 1100 Call other traders to satisfy your clients
  need
• 1200 Eat lunch at desk
• 100 You hear a block trade over the intercom,
  your clients want that, you start dialing.
• 200 You take a call from a client
• 300 You play a guessing game with your client
• 430 Markets are closed, wrap up paper work, head
  out
• 730 Meet Clients for drinks (bar, sports game,
  dinner)
• 1000 Head home and get ready for tomorrow

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A Traders Day

• 700 A.M. Arrive at the office, with WSJ in hand
• 730 A.M. Equities/FI Morning Call what youre
  selling and buying
• 830 A.M. Try and get Salesmen to set something
  up for market open
• 930 A.M. Market open, GAMETIME
• 1100 A.M. Your stock is dropping, get on your
  salesmen you want OUT
• 1215 Eat Lunch at Desk
• 100 You see a big time opportunity, you want in
• 200 Economic news is about to release, you let
  salesmen know of what you want to do any scenario
• 330 Make last trades of the day
• 430 Wrap up and get out of the office

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Salesmen Characteristics

• Incredible Communication Skills
• Translate from Complex to Simple
• Ability to manage relationships
• Good with teams
• Think on your feet
• Fun and Personable

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Sales Interviews

• Rapid Fire
• Off the wall questions (stress test)
• Airport Layover Test (personality)
• Brainteasers
• Abstract Thinking (Why are manhole covers
  round?)
• Be Ready for anything

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The Trader

• Good with math
• Split second decisions
• Confident
• Risky
• Mathematical freak
• One step ahead

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Trader Interview

• Quick Math
• Assess Risk
• Quick thinking on feet
• High Pressure Stress Tests

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Further Research

• Liars Poker
• Wall Street
• Boiler Room
• Vault Guides
• WSJ
• JMU Alumni, NETWORK!!!