What A Waste Of Talent!

3M
together
#1

Everyone here is trying hard to get jobs at the top firms. I can’t help but notice the immense talent on this forum.

I think we should all pool our efforts together and start our own hedge fund! Plenty of maths whizz from Oxbridge, finance gurus from LSE , future tycoons from LBS , the whole she-bangs is right here reading this!

What a god damn waste of talent. All of you probably have mean IQ of 140 - are spending days fretting about competency questions, filling in application forms for departments that are NOT hiring, and wasting your time preparing for silly numerical and verbal reasoning tests.

For those of you who got offers, well done! You deserve it. But for the less lucky ones…the current economic climate has made us look pathetic. CEO of Goldman had a 70m compensation package. GS made record profits thanks to the quantitative easing (bailout) funded by OUR tax money!

Surely I can’t be the only one that is not here for the money. I would be lying if I said it wasn’t a factor. I am here for personal reasons, I want a change of career into IB at the worst possible time since the depression, well let me correct that, at the worst possible time EVER. So what are we gonna do the lost generation? flip burgers?

When I see this forum (I am an addict btw), it depresses me. This is a serious misallocation of valuble human resource. The amount of talent and human capital that is ‘wasted’ on this forum could have been pooled together to find a cure for AIDS, solve the holy grail of physics, elevate the Third World from poverty.

Man, we gotta do something about it. For those of us who end up not getting any offers, which I am willing to wager there are gonna be plenty (I’ll volunteer to be first before they reject me), we gotta do something. Maybe pool our student loans together and trade CFD, I think Crude oil ( now at 79 dollars) is gonna end up at 75 in the next few days. If I have 10 grand to blow, I can turn that into 100k cash profit. Well if oil shoots back up to $82, I will be in 100k debt (dont worry I trade with stop losses)

Those of you who have trust funds, I’d highly recommend CFD trading. UP or out strategy! Throw a 100k in, leave with 3m. If you want me to trade your trust fund, I’d gladly do that for you too - PM me!

anyway I hope you guys got some plan B and have hedge your future somehow.

We, the ‘lost generation’ are gonna rise as THE generation! (:

#2

Haha - actually this has been said before on the forums. Someone suggested we start a WikiJob hedge fund and I think it is a very good idea!

You’re absolutely right - the talent on this forum is insane.

To put it out there, we are looking for smart people to help us at WikiJob HQ right now. We’re technically recruiting sales people, but would be interested to hear from you if you are not currently employed and would be interested in spend some time with an extremely exciting start-up in central London (we have an office based in Covent Garden).

If you would like to talk about this, drop me an email at Ed@WikiJob.co.uk.

Thanks!
E.

#3

Good post mate!!!

Starting up our own hedge fund eh… I am all up for that… I would totally love to start-up my own business… but just one tiny problem. Dont have the capital! If that could be figured out somehow, then it would wicked for a few of us graduates to start up one!

#4

I’m sure we could sort something out… I think it’s a great idea too! I was hoping to do this with my friends last year as at one point getting a job for us all seemed hopeless. Except they all secured jobs in IBs (except me!) so it never happened. :frowning:

I’m sure if a bunch of us got together with all our skills and knowledge we could do it. Money would be an issue at the start but it would eventually get sorted once we get a valid income!

#5

@Redsuperted

been trying to figure out. Is wikijob affiliated to Wikipedia? or the Wikipedia foundation? Whats the legal structure?

When I donate to the wikipedia foundation - via Wikipedia (my favourite site - youtube and facebook can battle it out for second. Google don’t even count. Google is like walmart/asda for me - Get your shit and get out), does my donation, however little trickle down to Wikijobs?

“There is some knowledge money can’t buy, for everything else, there is Wikipedia” if you see that quote, you know I’ve donated (:

OR are your operations solely driven by ad revenue from the the IBs and consultancy firms and all the other firms advertising here?

@IBD_Haunter
No capital? no problem, the banks trade other peoples money. We shall do the same, just tell your family and friends you’ve been made partner at the Wikijob hedge fund - a long/short hedge fund run by graduates, for graduates. Tell them to invest their savings with you.

@chucky
fingers still crossed for you, but this could be the best thing that happened to you mate. Buffett got rejected from Harvard but went on to study in Columbia and attributes his ungodly success to two of his lecturers there.

I understand your concern regarding access to capital. I even had an idea of issuing bonds. The dangerousrave bonds, issued against future potential earnings of my goodself. It is an ultra-high risk junk bond. with a Triple X rating. Proceeds from the sales will be use to fund my trading account.

Any takers?

#6

Wikipedia/Wikimedia are one entity - a not-for-profit organisation who aim to provide information to everyone and are funded solely by donations.

WikiJob is a completely separate entity - a private company set up by two graduates to enable other students and graduates to discuss jobs, careers and companies and find out information you can’t find out elsewhere. We are driven by revenue from recruitment advertising (email marketing, job posts, branded advertising, etc).

There is no conflict between wiki websites. “Wiki” is not a brand name but a word used to describe a particular type of website that is open to anyone to add to, edit or update.

Hope this helps - the idea of a WikiJob hedge fund is very appealing. If you guys are serious we would probably have some space to set you up - but you would have to find your own capital and the risk would be yours!

Ed.

#7

“I think Crude oil ( now at 79 dollars) is gonna end up at 75 in the next few days. If I have 10 grand to blow, I can turn that into 100k cash profit. Well if oil shoots back up to $82, I will be in 100k debt (dont worry I trade with stop losses)”

@IBD_Haunter No capital? no problem, the banks trade other peoples money. We shall do the same, just tell your family and friends you’ve been made partner at the Wikijob hedge fund - a long/short hedge fund run by graduates, for graduates. Tell them to invest their savings with you.”

sweet. IBD_Haunter, grab all your friends’ and family members’ money and bring it to DR. Mr hedgefund will then blow it in a single stupid bet.
I am really impressed. Retarded comments like “give me money and if things work out, I ll increase it tenfold” show that you got no f… clue about trading. Better take the money, go to Vegas. At least there is booze and hot chicks.

#8

hahaha… goodone EXS.

#9

@Redsuperted

That is very noble thing you are doing with the wikijob site.

I wish you all the success, you have helped a lot of people and if you can do something you love, at the same time help people, and yet be successful with your business

You’ve definitely captured my definition of a ‘dream’ job!

#10

@EXS

Haha, you have to lighten up. Anyone can probably read into the context of the post but probably not you. I certainly would not expect anyone to give me their hardearned money. Even if they did, I would have qualms about trading their capital. *We can trade together but I ain’t trading yours, and you ain’t trading mine unless you’ve got a track record.

  1. Clearly you have not traded oil and have not used stoplosses yourself.

  2. Clearly, you either do not understand what hedge funds do or choose to pretend you don’t, eitherway because if you did, you will know that they do NOT generally place naked ‘bets.’ *hint look up the definition of hedge funds on wikipedia

  3. It never ceases to amaze me the kind of things that people post on the internet when they think they are anonymous. Keyword here being ‘think’

by the way, which part of my previous post led you to infer that should the hypothetical senario presents itself, I would risk it all in one unhedged bet on the short term fluctuations of crude oil which at this time is exposed to the ‘dead’ US dollar? You clearly can do with a few verbal reasoning practice test or did you miss the part where I wrote “if oil shoots back up, I’ll be 100k in debt”

#11

woah… cool off the heat guys!!!

#12

lol (:

#13

looks like my post was a bit too ofensive. sorry for that.
back to the topic

“Those of you who have trust funds, I’d highly recommend CFD trading. UP or out strategy! Throw a 100k in, leave with 3m. If you want me to trade your trust fund, I’d gladly do that for you too - PM me!”

your words, right?

“I certainly would not expect anyone to give me their hardearned money. Even if they did, I would have qualms about trading their capital”

your words as well?

next point:
“Clearly, you either do not understand what hedge funds do or choose to pretend you don’t”

I am not sure who is the one who is not fully aware of how things work in the real world. I hate to destoy anyones’s illusions, but trading is not about a cowboy sitting in front of his desk, playing with CFDs and having 3m in his pockets when markets close.
Trading is about having a backtested and working strategy that constantly generates a reasonable sharpe ratio (choose any fancier performance measure if you like) to suck money out of the markets. People who do that have a good chance of becoming rich, cowboys tend to end up in the gutters. Darwinism of the global markets.

Feel free to be in denial and pursue great dreams, but that wont make you rich. Should you come up with trading ideas like " I’d highly recommend CFD trading. UP or out strategy! Throw a 100k in, leave with 3m" in a job interview, then that probably wont make you employed as well as that will not impress anyone.

#14

do i have to spell it out for you?

that post was a satirical parody meant to lighten up the serious situation…

are you not capable of comprehending that?

stop embarrasing yourself by misquoting me…

" Trading is about having a backtested and working strategy that constantly generates a reasonable sharpe ratio (choose any fancier performance measure if you like) to suck money out of the markets. "

I suggest you read Nassim Taleb and Geroge Soros and Karl Popper and follow the likes of Empirica Hedge funds (who will gladly disagree with you), it might change your outlook on trading. Do you also trade yourself? If you do I suggest you look at options

#15

chill guys… chill

#16

@IBD_Haunter

EXS is too serious and needs to lighten up a little…

anyway back to the salt mines…,

#17

#18

that’s what i’m talking about!!!

me too, I’ve had been involved in 3 startups… two crashed and (almost) burned. one is doing rather well on track for ipo…

That was what I had in mind when I started this thread. Surely I can’t be the only one that realise the fact that everyone here feels stressed about ACs and interviews…, yet this place is remarkable breeding ground and a hotbed for talent. Where else are we going to find such a high ratio of talented people in one setting? OK google, but hey we gotta start somewhere,

this reminds me about a book called “What they teach you at HBS” where the author went to HBS and basically wrote about those MBAs being in the same position as us. Where they felt like a ‘failure’ if they can’t secure the SECOND RATE job of getting into IBs and toprate consulting firms. Apparently the first rate job is Private equity and above that is Venture capital.

So even those harvard mbas who made it to bulge bracket firms felt like they could do better. Yet in anywhere else, 95% of the worlds population would trade their places with us.

#19

I love the idea guys, would be something great if we can pull it off!!! Anyone giving it a serious thought??

#20

yup, just thinking how we are gonna pull this off, I know we are all gonna keep this as plan b, but its a good plan B.

I am willing to give it a go for a year and can sustain myself without pay for that time. You sure you know what you getting into? I’ve been in start-ups no glamour at all. Not that IBs have much…

but if IB was like teaching third grade public school - Startup and bootstrapping is like, well, peddling big issue.

@rorybw always admire a fellow entrepreneur. As such, I am gonna buy your products and promote it the best I can for you (dont expect much). I am not big on winter sports, but I’m sure they’d make good gifts for my friends who are. As for the tent, well until my trading blows up, I still have a flat, but if I see a need, I know who to call. If you need help promoting your stuff marketing strategy consultation (free) let me know.