February 25, 2013 3:19 PM by Wade Blogs
I offer the below listing (which you won’t find in my forthcoming book The Buy Side) mostly for those who don’t make a living on the Street, though those who do will recognize the following types.
A sales trader, by definition, provides trading assistance, research and market knowledge to his list of buy side clients. To attract more attention from these clients, brokers sometimes get very creative in the services they offer. In my years on the Street I relied on some excellent sales traders – both men and women. But even the great ones rarely represented as much as 25% of my total coverage. On any given day, I’d talk to 100 to 150 sales people.
Almost without exception, the sales traders I dealt with fit one of the following profiles:
1.) Lax Man – Typically, this trader grew up in Jersey, Long Island or maybe Westchester. He was in his late twenties or early thirties. Lax Man was the first guy to ask me if I wanted to get in the March Madness pool. He’d “crushed it” in Vegas the prior weekend and, the night before, the hostess at Stanton Social was “vibing him.” He referred to everyone as Bro, Pal, Chief, Guy or Boss.
2.) Honorary (Wo)Man – She was cute and could trade locker room stories with the best. She used her sex appeal to create business. Behind her back, the guys on her desk would say, “She blows for flow.” But, in reality, she worked hard — harder than most of the men on her desk. She had something to prove. She knew the business and did an excellent job. She wasn’t married.
This comes from a blog highlighting the passages that did not make the cut for “The Buyside” book by Turney Duff, a former Wall Streeter. Duff is a stand-up guy and doesn’t forget where he came from and is truly down to Earth. His book is coming out in June and we are trying to get our hands on it to review it for all our readers. If the book is half as good as his blog, kiss it goodbye Smalls…this thing will be a HOME RUN.
The entry below details how you encounter various knobjobs and veterans and the occasional floozy along your career, not just on Wall Street. I don’t think he missed any type of person on this list—well maybe the guy who doesn’t bathe and constantly looks like shit. Watch out for this guy Turney Duff, he’ll be on all types of best selling lists in the coming months. You heard it here first folks.