Thursday, June 30, 2005

Another quarter point

The Fed raised interest rates by another quarter point today. This was basically expected, but everyone was wondering about the language from the Fed. Well as you can see from the drastic drop in the indices, the language didn't meet expectations. Wall Street wants an end to the hikes or at least language indicating that an end is near. The Fed is going with the same language as before when they note that they intend to move rates up "at a pace that is likely to be measured".

I haven't done any CFA studying nor job hunting today! Well I did a little job hunting (limited computer time). I'm going to try to get through some more accounting tonight. I know Another Bean Counter suggests I give it another try, but this stuff is not fun. Overall though I'm feeling pretty good about my progress with the CFA. There are basically 18 sections and once I finish the accounting part I'll be on the 7th section. I think it's good that I'm getting a lot done while having some free time.

I emailed someone from the other hedge fund place about trying to set up an interview for tomorrow. They emailed me promptly to let me know that tomorrow is when they launch a new fund, so it will be a busy day. Someone from HR is going to email me back the times available for next week. Since my schedule for next week is fully open, I think I can fit the interview in....
I'm hoping the interview is for Tuesday, so I can get things going. Sometime over the weekend I'm going to brush up on some credit derivataives (that's what the job is for) and I have limited knowledge in this area. That's okay though since this is more of an assistant position, but I want to have some info before I go.

So to recap my job hunt (because this stuff is even confusing me):
  • I had a great interview last thursday with a hedge fund. They told me they would get back to me at the end of this week, but probably early next week.
  • I thought the interview for the Junior Trader role went well last Tuesday, but I haven't heard back. I sent a few emails, and I might call but I also saw that they put the position on Craigslist once again. I might call just to see why I didn't make the cut- might help me out in the future.
  • I talked with a recruiter early this week and she said she had a fixed income associate position in mind. The firm is going through an internal audit so it might take awhile to get the process going. I need to email her to see what's going on with the position.
  • I'll most likely set up an interview with the second hedge fund for next week.
  • I applied to three trading jobs. One is in NYC and two are in SF. I'm trying to find firms that pay a salary since I have close to zero trading experience. There are a few that will train you (but I've read some issues about how good the training is) and then you keep some profits- this seems a little too risky.
I've found two more jobs today, but I've been disappointed that I can't find more jobs.
I haven't been able to seek out too many articles, but I've been up to date on my blog reading.
I've been reading the series over at Free Money Finance on advice from bloggers, and I think it's a great read (and not only because some of my advice is there).
An earlier series was done about the best financial advice from experts, and that was definitely a great read.
I also read Neville's blog on a daily basis and I can't believe he's getting so much flack for his last post. My main view on goals is this: why not set it high. I believe in setting high goals because that is how I motivate myself. Others post average goals that they will realistically hit so they can feel better because they hit their goal. Both ways work, some use one and some use the other. I don't get why people would bad mouth that post, anyways this reminds me of a Reebok or Adidas slogan. I can't remember right now, it was always on the back of Slam magazine. I'll try to look it up later.
My average viewers on a daily basis ranges from about 30-45/day and I wanted to thank you for reading my little blog. Hopefully some of you are more than first-time visitors and I'm always trying to think of ways to improve this blog. If you have any suggestions, either comment or email me through my profile.
Thanks for reading!