
The End of Wall Street As They Knew It - cdwhite
http://nymag.com/news/features/wall-street-2012-2/
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pg
“If you’re a smart Ph.D. from MIT, you’d never go to Wall Street now,” says a
hedge-fund executive. “You’d go to Silicon Valley. There’s at least a prospect
for a huge gain. You’d have the potential to be the next Mark Zuckerberg. It
looks like he has a lot more fun.”

~~~
Tichy
Except that with a startup you can fail. Employed in the finance industry you
make money no matter what.

~~~
wtvanhest
The finance industry is up or out. So, no you are not employeed no matter
what.

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Tichy
No, but if you are employed for n months, you get at least n*salary as
revenue.

~~~
wtvanhest
Why would a PhD not get paid at a startup?

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Tichy
Just not as much as they pay in finance, I suppose.

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wtvanhest
It depends, only a small number of PhD's get paid a lot of money in Finance.
They work primarily for quant funds if they make a lot and more than likely
work for risk management which pays much less.

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sbierwagen
This article's a complete whitewash, of course, being about as pro-Wall Street
as a monocle salesman.

Notorious leftist wingnut Matt Taibbi wrote a post about it:
[http://www.rollingstone.com/politics/blogs/taibblog/why-
wall...](http://www.rollingstone.com/politics/blogs/taibblog/why-wall-street-
should-stop-whining-20120208)

~~~
mistermann
Matt Taibbi's is the only person I've encountered who consistently writes
something on this subject that resembles reality, and I consider myself to be
very conservative.

The mainstream media's lack of coverage (or poor coverage at best) of this
subject has been shameful.

Prediction: all of this supposed austerity on Wall Street will be very short
lived.

~~~
mattmiller
I would not bet against your prediction. The political propaganda machine is
on their side.

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joejohnson
Here's an interesting response to this article:
[http://www.rollingstone.com/politics/blogs/taibblog/why-
wall...](http://www.rollingstone.com/politics/blogs/taibblog/why-wall-street-
should-stop-whining-20120208)

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alanmeaney
The deleverage of the banks caused by the new rules will not eliminate Wall
Street risk taking. As the article states many of the top proprietary trading
desks are already moving to Private Equity and Hedge Funds. This will only
serve to hide the risk taking from the scrutiny of the public eye. Despite the
recession there are billions of dollars looking for an above market return.

Through Private Equity and Hedge Funds Wall Street will find a way to meet
this demand. It will simply adapt itself to the new rules, finding new ways to
take new risks.

Greed will always find a way…

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paulbaumgart

      "And as the world becomes deleveraged, money has been pouring out.
      In October 2011 alone, hedge funds saw $9 billion go out the door."
    
      "Over 1,000 funds have closed in the past year and a half."
    

I guess that means the "VC bubble" is only going to grow over the next few
years, huh?

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BrentRitterbeck
Just give me some interesting data to work with, and I would gladly come to
work for any of these firms for $125K flat salary just to get into the place.

