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closdubois
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Lost money at prop desk -- what to write on CV?

October 18th, 2014, 3:19 am

Suppose a candidate didn't do so hot at a prop desk and had to find another job. What should he put on his resume?1. Be honest and say you lost money. Sounds like an awful idea.2. Cherry-pick your experience and say "made 200k on 600k haircut over a 6month period" (and leave out the bit about losing 1mm the next month)3. Don't list anything related to PnL -- but then what the hell were you doing as a trader?
 
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DevonFangs
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Lost money at prop desk -- what to write on CV?

October 18th, 2014, 4:44 pm

I'd say 2 is the only acceptable, but bear in mind they'll bust you in zero time (but then again, if they call you maybe they're ok with that)
 
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katastrofa
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Lost money at prop desk -- what to write on CV?

October 18th, 2014, 7:08 pm

QuoteOriginally posted by: closduboisSuppose a candidate didn't do so hot at a prop desk and had to find another job. What should he put on his resume?1. Be honest and say you lost money. Sounds like an awful idea.2. Cherry-pick your experience and say "made 200k on 600k haircut over a 6month period" (and leave out the bit about losing 1mm the next month)3. Don't list anything related to PnL -- but then what the hell were you doing as a trader?200k on 600k and then 1mm loss?4. If you consistently made money over a long period of time and then a single market move took you down, it might be the story worth being told.5. Blame it on your company (no limits, regulations, etc.) It's not a perfect explanation, but maybe the correct one?6. "I was young. We make mistakes."7. If none of the above sticks to you (and "mm" means what I think it means), would you consider having a certain tattoo done?
 
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tagoma
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Lost money at prop desk -- what to write on CV?

October 18th, 2014, 7:28 pm

Quote5. Blame it on your company (no limits, regulations, etc.)You can't be serious Kata.
 
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katastrofa
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Lost money at prop desk -- what to write on CV?

October 18th, 2014, 11:58 pm

QuoteOriginally posted by: tagomaQuote5. Blame it on your company (no limits, regulations, etc.)You can't be serious Kata.Is there any constructive part of your post coming with the rest of my nickname?
Last edited by katastrofa on October 18th, 2014, 10:00 pm, edited 1 time in total.
 
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closdubois
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Joined: September 26th, 2008, 1:12 am

Lost money at prop desk -- what to write on CV?

October 19th, 2014, 1:19 am

QuoteOriginally posted by: katastrofaQuoteOriginally posted by: closduboisSuppose a candidate didn't do so hot at a prop desk and had to find another job. What should he put on his resume?1. Be honest and say you lost money. Sounds like an awful idea.2. Cherry-pick your experience and say "made 200k on 600k haircut over a 6month period" (and leave out the bit about losing 1mm the next month)3. Don't list anything related to PnL -- but then what the hell were you doing as a trader?200k on 600k and then 1mm loss?4. If you consistently made money over a long period of time and then a single market move took you down, it might be the story worth being told.5. Blame it on your company (no limits, regulations, etc.) It's not a perfect explanation, but maybe the correct one?6. "I was young. We make mistakes."7. If none of the above sticks to you (and "mm" means what I think it means), would you consider having a certain tattoo done?Mostly 5 and 6, and maybe 4 depending on the definition of "long period of time"Looking back, it was pretty unintelligent to be long vol towards the middle of '09, but many options MMs found themselves in that position.So, #2 for the bullet point on the CV?
 
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traderjoe1976
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Lost money at prop desk -- what to write on CV?

October 19th, 2014, 5:04 pm

You may have to change your field of work. I know one trader who had many successful years trading, then one bad IPO wiped him out. Now he is working as an accountant and Personal Financial Consultant making crappy money.You will not get too many chances to lose $1 M of other peoples money.
 
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tagoma
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Lost money at prop desk -- what to write on CV?

October 19th, 2014, 7:19 pm

QuoteOriginally posted by: katastrofaQuoteOriginally posted by: tagomaQuote5. Blame it on your company (no limits, regulations, etc.)You can't be serious Kata.Is there any constructive part of your post coming with the rest of my nickname?I meant you just can't be okay with the inner workings of the company you're working with the days market is on your side while spitting upon it (your employer's company) while your P&L starts to see red.
 
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daveangel
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Lost money at prop desk -- what to write on CV?

October 22nd, 2014, 9:42 am

QuoteOriginally posted by: traderjoe1976You will not get too many chances to lose $1 M of other peoples money.Don't know about that... it depends on who you know
knowledge comes, wisdom lingers
 
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Cuchulainn
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Lost money at prop desk -- what to write on CV?

October 22nd, 2014, 11:38 am

QuoteOriginally posted by: daveangelQuoteOriginally posted by: traderjoe1976You will not get too many chances to lose $1 M of other peoples money.Don't know about that... it depends on who you knowWhat's $1 M these days?
 
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riskguru
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Joined: August 11th, 2004, 4:24 pm

Lost money at prop desk -- what to write on CV?

October 22nd, 2014, 3:53 pm

Why do you think six months (ex the loss period) is meaningful to an employer anyway??
 
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DominicConnor
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Lost money at prop desk -- what to write on CV?

October 23rd, 2014, 3:20 pm

The first question I'd ask is have you got it clear in your own mind exactly why you lost the money ?
 
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closdubois
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Joined: September 26th, 2008, 1:12 am

Lost money at prop desk -- what to write on CV?

October 24th, 2014, 5:30 pm

QuoteOriginally posted by: DominicConnorThe first question I'd ask is have you got it clear in your own mind exactly why you lost the money ?Yes, quite clear.It seems like there's no ideal way to go about this. However, resume writing guidelines I've gathered tell me I should quantify everything I've done, which is why I'm trying to put numbers on the page.
 
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rmax
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Lost money at prop desk -- what to write on CV?

October 27th, 2014, 4:02 pm

QuoteOriginally posted by: traderjoe1976You may have to change your field of work. I know one trader who had many successful years trading, then one bad IPO wiped him out. Now he is working as an accountant and Personal Financial Consultant making crappy money.You will not get too many chances to lose $1 M of other peoples money.Work in IT. It seems that they can loose this kind of money very very easily...
 
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neuroguy
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Lost money at prop desk -- what to write on CV?

October 29th, 2014, 12:55 pm

QuoteOriginally posted by: rmaxQuoteOriginally posted by: traderjoe1976You may have to change your field of work. I know one trader who had many successful years trading, then one bad IPO wiped him out. Now he is working as an accountant and Personal Financial Consultant making crappy money.You will not get too many chances to lose $1 M of other peoples money.Work in IT. It seems that they can loose this kind of money very very easily...Yes but at least it would be documented (as the waterfaller said to the scrum-master).
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