I’m not sure who’s more full of shit – the sales traders who always have 101 reasons why clients should be paying them more or the buy side traders who keep coming up with reasons no to. Here’s a few lines I’ve heard too many times to count.
We are doing some work on this one so keep us up.… Yeah OK. So all of a sudden there’s a place in your model in between EBITDA and P/E ratio to plug in how much I’ve traded and how much more stock I have to buy. The only work you’re presently doing is buying the stock away from me with your d-bag buddy at Jefferies and you want to now what my buyer is doing so you penny me all day.
I’m not doing anything, but I see you’ve been active in XYZ and my PM was asking me what I’m seeing … followed by, “If I get anything to do I’ll give you a call.”... This is proof they think we’re retarded.
Your guy has been very helpful, we’ve just been very slow – Here suck on this for a while.
Supposedly Off Wall Street published a negative report on XYZ, can you try and get that for me…? Scraping the bottom of your sales trading barrel are you?… I knew it couldn’t have been an order.
You’re doing a good job. Just remember the race is long. It’s a marathon, not a sprint. – Whatever guy. Read the rest of this entry »