Are traders golf enthusiasts that drink, chomp on cigars and where fancy watches?
Nut over at The Writer’s Coin asked Are Traders Stereotyped?. This came from taking a look at Trader Monthly, leading to the question:
So traders are golfing enthusiasts that love to drink, chomp on cigars and check their fancy watches to make sure they’re not missing the big fight?
Do I pretty much have that right?
I have a subcription to the magazine, which I often call “GQ for traders”. These are the folks who do the annual 30 under 30 list of the top young traders. The magazine usually has some decent content, but we need to be clear on its target audience.
Trader Monthly is aimed as institutional traders, those that work for banks, hedge funds, prop shops, and the like. This isn’t about retail or individual traders. It’s for folks making 6-figure and up incomes. As a result, the ads, inserts, and some of the articles are aimed at a high end market. We’re talking private jets and watches with five-digit price tags. Not for the average trader.
That said, there are usually some articles of interest for those who aren’t trading billion dollar portfolios. It’s worth checking out from time to time.
In terms of a wider answer to Nut’s question, there are a number of trader stereotypes. Most of them come from institutional traders (I strongly recommend Liar’s Poker as a great look into that arena) and/or day trader types. The vast majority of traders, though, don’t fit those images. The bottom line is that traders come in all different shapes and sizes.
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2 people have left comments
Posted on September 9, 2008 at 8:49 pm
Writer’s Coin wrote :
Thanks for the insight, John. That does shed some led on the insert, but still: is that really what a six-figure income is spent on by traders? It seems like a bunch of random, stereotypically “rich” topics. Do you think they’re on point about it?
Posted on September 10, 2008 at 7:23 am
John wrote :
I actually do think they are on point. In focusing on these hedge fund traders and the like, you’re talking about a lot of relatively young men, for the most part. They are the same demographic, essentially, as professional athletes. Conspicuous consumption is a pretty good description, I think.