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Thoughts on Central Risk Book Trading?
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<blockquote data-quote="longgamma" data-source="post: 277617" data-attributes="member: 37529"><p>Its a great place to start. Do you have an understanding of what the CRB book does and what exact role are you being offered? It is a front office role and usually sits within the cash equities desk.</p><p></p><p>Exit opps - what interests you? A few years in a BB is a great way to jump to a junior trader role in buy side</p><p>Comp - cash desk is paid well but less than IB side atleast for till you hit VP</p><p>Internal respect - lol, the other traders will hate you. You are taking execution power from them also general wariness around quants in sell side shops. But who cares?</p><p>What they are looking for - you would be essentialy aggregating risk across the entire equities team. In the end, you must have a read on the markets. You dont need to be right just most of the times. When I left the BB I worked at, they were setting it up with a bunch of quants from the old prop desk. DB had a big debacle with a $60mn hole two years ago in the CRB book.</p><p></p><p>Dont stick around in sell side for long.</p></blockquote><p></p>
[QUOTE="longgamma, post: 277617, member: 37529"] Its a great place to start. Do you have an understanding of what the CRB book does and what exact role are you being offered? It is a front office role and usually sits within the cash equities desk. Exit opps - what interests you? A few years in a BB is a great way to jump to a junior trader role in buy side Comp - cash desk is paid well but less than IB side atleast for till you hit VP Internal respect - lol, the other traders will hate you. You are taking execution power from them also general wariness around quants in sell side shops. But who cares? What they are looking for - you would be essentialy aggregating risk across the entire equities team. In the end, you must have a read on the markets. You dont need to be right just most of the times. When I left the BB I worked at, they were setting it up with a bunch of quants from the old prop desk. DB had a big debacle with a $60mn hole two years ago in the CRB book. Dont stick around in sell side for long. [/QUOTE]
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