Tag Archives: credit derivatives

Thanksgiving on Wall Street

thanksgivingWith the holiday season rapidly approaching, we are all looking forward to seeing our loved ones.  Thanksgiving is a time to catch up with old friends, hang out with obscure members of the family, and gorge ourselves on mashed potatoes, pumpkin pie, and turkey and tofurkey.  Of course, Thanksgiving is also a time to stretch the truth about how amazing our lives actually are, in order to one-up our cousins and give our parents something to brag about.  So, in order to impress Uncle Jerry and crazy Aunt Lisa, here are some responses that may be better than the cold hard truth.

Crazy Aunt Lisa: “So, what are you up to these days?”

You: “Well, I’m working in New York at [prestigious company] as a credit derivatives trader.” 

(Translation:  I’m probably going to be unemployed soon.)

Crazy Aunt Lisa: “Wow, that sounds mighty impressive!  So you work in one of those tall, shiny skyscrapers?  What do you do as a trader?”

You: “Essentially, we run complex financial risk models and look for arbitrage opportunities.  My personal responsibility is to oversee all the trades that come through my desk.  Right now we’re in a bit of a liquidity crunch, as I’m sure you’ve heard, so even though it’s been tough, we are working through it.”

(Translation: I spend most of the day trying to break down the firewall that prevents me from checking my fantasy football stats.  At lunch, I serve as the designated pizza bitch for the traders on the floor who are actually making trades.  A few months ago, I used to carry six or seven pizza boxes back to the office.  Now, given the tanking credit markets, I’m ordering by the slice.  The rest of the day, I take bathroom naps and think about how I spent $120,000 on my education to get to this point: where, after a year on the job, I am a glorified delivery person with a Brooks Brothers suit and the financial modeling skills of an orangutan.) 

orangutanCrazy Aunt Lisa: “My goodness… and at such a young age!  So do you get to see friends a lot, given your busy job?”

You: “Even though the job is demanding, I definitely try and make time to see my friends.”

(Translation: If I didn’t see my friends, I would jump out the window of my shiny office building.)

Uncle Jerry: “How are you all liking New York?  Are you staying out of trouble?”

You: “Oh, of course.  My friends and co-workers are all young professionals, and we are always trying to do something different in the city.  There is so much culture in New York.”

(Translation: Yesterday I woke up sprawled outside my apartment door with the imprint of my floor mat on my cheek.)

Crazy Aunt Lisa: “That sounds like so much fun!  You are just so accomplished already… I hope [your screwup cousin] can follow your lead. Do you know of any job openings there?”

You: “I can talk to the HR rep about it.  Getting into the business is tough right now given the market, but I will check, definitely.”

(Translation: I would not wish this job on anyone.  Not even my screwup cousin.)

Uncle Jerry: “So, do you think this is it?  Found your calling?”

You: “Well I’ve enjoyed the work, and it’s been a great learning experience so far… I’m not sure I want to settle on anything just yet, because I’m still young, but I’ve learned a lot about myself.”

(Translation:  I’m peacing out after two years.  I have no idea what I’m going to do, but I know that it’s not this…)

Crazy Aunt Lisa: “Sounds like you have it all figured out!  To be so young and so driven… what a success!”

You: “Yep, that’s me… Could you please pass the sweet potatoes?  And take some more of my BS… I’ve had too much.”

Crazy Aunt Lisa: “Of course, dear.

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