My lasting memory as an incredibly fortunate Junior trader on the Proprietary Trading desk at a shiny US IB in the late 90’s was watching the best and brightest traders of their generation throw it all away betting against the internet and all of its late 90’s manifestations.
1/4
1/4
They were, of course, eventually proved correct but none survived. The almost tangible hatred of the market’s incredible advance came through in increasingly poor sizing and trade structure.
2/4
2/4
It accelerated my move to rules based and then fully quantitative trading in a holding period time frame where I found real Alpha.
3/4
3/4
One notices a repeat of this virulent hatred of the market whenever it rallies from today’s best and brightest. Perhaps the tragedy is theirs and not the markets.
4/4
4/4
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