First New York Securities LLC

  www.fnysllc.com
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12 Employee Reviews (View Most Recent)

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FNY portfolio manager

Former Employee - Portfolio Manager  in  New York, NY
Former Employee - Portfolio Manager in New York, NY

Pros

a good amount of flexibility in trading ideas/execution

Cons

6 months trading of flat returns and I was out the door. High cost per transaction on equities trading

Advice to ManagementAdvice

be more selective in hiring and give a longer do or die period

Other reviews for First New York Securities LLC

  1.  

    disorganized and penny pinchers

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Portfolio Manager  in  New York, NY
    Former Employee - Portfolio Manager in New York, NY

    Pros

    freedom to run book how you want (in theory), can take vacation, new mgmt might be better

    Cons

    they'll try to hit you with a lot of fees to pay you a smaller cut; not an ideal set up if you come from traditional hedge funds

    Advice to ManagementAdvice

    you need to pick where this business is going. if it is a day trading shop, make it a day trading shop. if you wanna run long/short and recruit credible long/short pms, you cant stand over a guys shoulder every time a $60 stock moves 30 cents.

  2.  

    Eat what you kill exemplified

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Trader  in  New York, NY
    Former Employee - Trader in New York, NY

    Pros

    Control your own destiny and compensation is cut and dry based on returns. Not a bad place to learn trading. Just understand that they tend to favor quick trading rather than investing.

    Cons

    Limited rope if things start going against you. It is a total return shop so risk is constrained if you obtain any losses - which is bound to happen eventually even to the best of traders and risk managers.

    Recommends
    Negative Outlook
    No opinion of CEO
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