Pros
- Flexible working hours - wear whatever you want
Cons
- No real training. Everything the firm does and all of these other firms in New York are dated. -no real strategies. Stuff like buying down and momentum trading as implemented by these traders is so outdated. Lots of people still do crap like buying against levels. - discretionary trading is dying - some people still make money by 'seeing' the market. Their intuition with what's right is probably aligned with reality luckily. But these people are few and far between and this stuff can't be taught - no career opportunities after Chimera - people don't try to collaborate. Huge backroom of traders who don't share information or help others, even though their edge is probably small as well and not worth bragging about. - No quants, bad software, no real strategies based on information or math. No automation of strategies.