Investment Banking Myth 3: what is Sales and Trading?

其实,在资本市场中。尤其是在sales and trading 当中,股票trader并不如debt, fixed income related products trader 吃香。

这是为什么呢?trader 主要是通过trading volume 来达到盈利的。债券的发行量是股票发行量的数倍之多。

在sales and trading 当中,有两个部门: equity markets and debt markets.
debt markets 包括,foreign exchange, government bonds, corporate bonds, fixed income derivatives and money markets etc.

trader 挣的要和i banker 差不多,但是工作的时间要少的多。所以,大多数人都愿意在sales and trading 工作,而不是在 i banking 工作。因为ibanking 确实是corporate slave, 没有时间去花挣的钱。

Liar's Poker and Predator's Ball are two books talking about some of the traders made huge difference in US Financial Markets in Late 70s and earlier 80s.