Part 5/9:
The Secretive Charm of Prop Trading
The industry of proprietary trading was intriguing, largely because it’s cloaked in secrecy. These firms chose not to broadcast their operations, potentially to avoid scrutiny and oppressive regulations that might lead to taxation debates. My research revealed some of the most capable minds from top schools congregating in Chicago, an epicenter for derivatives trading.
The allure of incredible bonuses made it clear that I was making a sound decision. Companies like Getco (now KCG after mergers) proved to be incredibly successful, especially during market downturns. In 2008, Getco experienced an unthinkable profit surge, and fresh traders were able to secure bonuses that rivaled my annual income in an exceptionally short period.