Business Insider has put together slideshow of 28 trading desks of options/stock traders from around the world. I’ve worked at 2 different funds and been to offices of many more, and I’ve hardly seen more than two screens/ terminals at any trader’s desk. Looking at these pictures, makes me wonder why a person would need so many screens or multiple trading terminal/data services. Unless they’re passing on fee for these services to their clients (which doesn’t happen here btw), it doesn’t make sense.
Standard here is 6 screens. 1 of our PMs has 8. Global Macro HF
I think this is more common than you believe.
I wouldn’t want more than 2 screens cuz I don’t want to get cooked by radiation.
2 is the max for me. More than 2 and i’d feel like a tool box.
You haven’t been at enough trading desks. No one I know has less than 4 screens.
I’ve only seen energy focused trading desks and the minimum they had was 4 each, then big 50-ish inch screens all over the walls and in between the rows showing common data, or MSNBC/some other TV program.
I don’t know that I find these trading desks ridiculous at all. I’m not a trader, but the way these guys have it set up makes perfect sense to me. How many of us schlubs have lowly 1- or 2-monitor workstations, only to have like 12 windows open in the taskbar at any given time? It seems perfectly logical that if you had the screen area to expand all screens without having to go back and forth between the taskbar icons, anyone would opt for that setup. I personally find these workstations quite enviable…
Hi. Interested in any insights you have on the global macro industry. Returns have been poor ytd and for several years really. Is the market just too competitive now?
MS vs. C?
I used to work for a guy who had an absurd u-shaped setup with 22 monitors just for himself. It was impractical.
How can global macro returns decrease due to competitiveness? Is this due to lower fees?
I used to have a six monitor setup. However, now I have bigger monitors and reduced the number to three. Better resolution also helps, as I can make more little windows. I like this better because I don’t have to move my head left and right, up and down, all the time.
I used to have four monitors–but they were all 17-inch 4x3 monitors. Now I’m rocking two 24’s like a bawss.
(FTR - I’m not a trader.)
I usually see traders with multiple monitors (4+). Presumably, they need to get alerted in the moment whenever sh!t hits the fan, so I understand why it’s important. In conttrast, as a research analyst, I have two monitors and that is all I really need. I contemplated getting a third monitor, but I generally think about making my life as streamlined as possible as opposed to taking on additional stuff that I may or may not need.
I used to think having 2 monitors was a bit toolish. Then i got 2 monitors and realized it was a whole lot better than 1. I now think having 3 is toolish, but if I had 3, i’d prolly think otherwise.
Global macro is more competitive, meaning it’s harder to have and keep an edge.
Also, the only bet consistently paying off recently has been long equities (and perhaps high yield). It’s hard for global macro funds to differentiate themselves in that environment. Why pay HF fees when it looks like you can do just as well holding a bunch of SPY.
I was surprised by how quick I filled up four monitors and still wanted more.
My macro partner had four screens. One showed current prices of various asset classes. One was for charts and web pages and a BBG window if he needed it. One was for excel work. And one was for email and ms word docs he was writing. This system worked well for him.
What is this “edge”? Let’s say fund A trades EUR, Gold and Crude Oil, and they make some kind of directional bets. Since these are all liquid products that are unlikely to be distorted by more participants, how does a higher number of macro funds in this space deteriorate fund A’s returns? I can understand the fee decrease, but how is the “alpha” affected? Or are these funds actually trading in markets where mispricings can be easily closed (and if so, does anyone have any examples)?
I still need to find an engineer to partner with me and develop a laptop with a fold/slide/glide/click-out second screen.
note the pictures are all home setups, not actually for any real execution desk. 6 is normal, one screen is often used as a tv (bloomberg). multiple PCs are also common, turret phones etc