It has not been an easy few years for the super-brained investment bankers that used to work on prop desks or create those products that now live on only in infamy, such as the CPDO squared.
A lot of them have gone off to work for the hedge fund industry and quickly realized that without the support of their bank’s trading machines and concurrent information flows they are as much a punter as any other market trader – producing great returns in some markets and terrible losses in others.
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