Blog Pearls

Lehman Brothers

The Princeton Pre-Business Society took a trip to New York City to visit Lehman Brothers.
A number of employees set up a Market Trading Simulation, where we all ran around buying and selling oil contracts, S&P futures, and 10-Year T-bills. Some people acted as salespeople, who interacted with the “customers.” Lehman employees played the role of the customers: T Rowe Price, SAC Capital, etc. They gave orders on what to buy and what to sell, and in what amounts, to the salespeople. Salespeople, after creating a connection with the customer, relayed this order information to the trader in his or her respective “pit.” The S&P pit roared with energy as everyone bought and sold thousands of shares. On the other hand, the other two pits hardly moved from their starting prices. Afterwards, we had an opportunity to talk with some of the employees who told us about their jobs. Many were in fixed income, which relies heavily on the quantitative, mathematical side of the investment banking business.
The experience ended up very chaotic. When I played the role of a trader, my balance sheet made no sense, with missing blocks of trades. I think a simple computer interface could make this really easy, effective, and avoid the hassle of recording every transaction.

over 13 years ago on March 3 at 10:15 am by Joseph Perla in school


blog comments powered by Disqus

Howdy, my name is Joseph Perla. Former VP of Technology, founding team, Turntable.fm. Entrepreneur. Actor. Writer. Art historian. Economist. Investor. Comedian. Researcher. EMT. Philosophe

Twitter: @jperla

Subscribe to my mailing list

* indicates required

Favorite Posts

Y Combinator Application Guide
What to do in Budapest
How to hack Silicon Valley, meet CEO's, make your own adventure
Your website is unviral
The Face that Launched a Thousand Startups
Google Creates Humanoid Robot, Programs Itself

Popular Posts

How to launch in a month, scale to a million users
Weby templates are easier, faster, and more flexible
Write bug-free javascript with Pebbles
How to Ace an IQ Test
Capturing frames from a webcam on Linux
A Clean Python Shell Script
Why Plant Rights?

Recent Posts

Working Copy is a great git editor
Venture Capital is broken
The nature of intelligence: brain bowls, cogniphysics, and prochines
Bitcoin: A call-to-arms for technologists
Stanford is startups
Today is Internet Freedom Day! DRM-free book about Aaron Swartz's causes

More...