完全認同equity involves 太多 sentimental factor 所以其實好難用fundamental 來做prop trade。亦都係點解我覺得唔想再係呢行曬時間,做既野無9意義,炒黎炒去,只係一大班人9UP黎9UP去。stock uptick 時就話Long term margin expansion,向下炒時就話short term margin miss.....diu...甘trade long term 定short term都係一時時....勁on9
無可否認equity research 巳經比太多大6人,BIG4大6人想跳入行,塞到爆晒,身為香港人,你一係迎合佢地,一係離地去外資regional APAC coverage...
同埋另一個事實係,當你start with細行,唔洗痴心妄想跳到入大行。
細行既定義係,宜家好多ex sell side traders/analysts OR big house PMs跳出黎,搵到條大老闆水喉,出黎自己開返檔AM,佢地一定比最UN既PAY你,因為係自己生意。
Pureheart2019-04-04 11:14:26
research只會變成front office嘅cost centre ,唔洗未來啦,DBS research巳經搬左去太古,CITI research仲慘去牛頭角
Raptor2019-04-04 11:29:50
Haha one island east isnt that bad, berestein is there anyway and they r fine. but really feel sorry for the Citi guys...that is cost cutting too far.
will they become.a cost center? really depends on their strength. some of them are just hopeless, we cut a few global house for research. some are getting better...we pay them quite a bit actually.
Raptor2019-04-04 11:36:09
well I cover regional so less affected.
the market is still very inefficient still quite a bit alpha u can extract. it is exactly the volatility which give us more chance to win.
we still have a long term investment horizon with annual turn over not even half...
阮民安2019-04-04 12:30:01
所謂大行sellside
唔排除小數係有料
但有唔少只係entertainment business
唔係年年點會咁多做小丑拎 II vote?
Sellside junior 至中級都真係有野學既
高級個d 只係學奶鞋底拎 vote
Skill set 唔transferrable
FaceID2019-04-04 12:39:12
I see, 但個啲走出黎開AM個啲其實都係Buy Side啦應該?
Sell side細行係唔係指啲細證券行?
FaceID2019-04-04 12:41:04
do u think the research guys will switch back to s&t finally if the market is becoming like this...
yes I believe there is a chance to win even without manipulation. Do you or your team invest in fixed income securities? Do you agree that it is better for newcomers rather than equity?
阮民安2019-04-04 16:13:04
唔只佢
Tony Tsang 年代已經有呢D
再遠D 神華$100蚊目標價
Raptor2019-04-04 16:23:09
prop trading? With the regulation now...forget it
Raptor2019-04-04 16:27:12
have u seen the video this year from a quite senior analyst from the bank which is moving to the dark side? don't wanna spell it out but come on everyone is just taking the piss really. buy side dont care from day 1, is really just helping fd out. sell side knows is meaningless esp after mifid.
ii is silly, aum weighted, if u dont have strong present in us Europe forget it
Raptor2019-04-04 16:29:08
my firm obviously yes
skill set is different hard to compare
Pureheart2019-04-04 17:38:12
Haha can people stop calling Kowloon the dark side already 😂hkgov is kickstarting Kowloon east we should at leave give it a vote of confidence...
the bodybuilding guy no comments, at least he doesn’t make himself a big joke ...it’s quite well received in his circle...it’s all ii is about. Make some fun. Have a good laugh. Chit chat catch up. Gossip over drinks. Done you got yourself a ballot.
Raptor2019-04-04 18:38:22
well, even rosewood named the bar Dark side...and I really have no faith in the current regime. kowloon east is no marina bay or canary wharf, infrastructure is nowhere near...having said that swire has done a much better job in tai koo...that is another topic
to me ii is just like esg stuff. not completely useless but more like box ticking. is part of the game just live with it
FaceID2019-04-04 20:51:18
I see 咁我明
我見好多證券行請research analyst, 好似咩華泰 中信 國泰君安依啲 全部都過千億市值 依啲入到既話應該都唔算細行?