Investing (3 Viewers)

[carrotsss]

S&p500 is still slightly better.

depends on the time period, for example during the early 2000s the ASX definitely outperformed

 

[HazzRat]

I should genuinely become an option trader

 

[Queenroot]

@Squar3root crazy innit

 

[Queenroot]

What are some good investments in 2024?
Are there better options for my money instead of a savings account?
What are some steps I can take now to ensure I can afford to buy a house in Sydney?

Feel free to discuss

The median salary for being able to afford a house in Sydney is about 300k. Invest in finding a rich partner at this point

 

[Queenroot]

I should genuinely become an option trader

Yes any trading job is where the money is at, iirc Jane Street quant trading grad roles are about 300k. I'd make the switch if I was still in uni.

 

[mmmmmmmmaaaaaaa]

Yes any trading job is where the money is at, iirc Jane Street quant trading grad roles are about 300k. I'd make the switch if I was still in uni.

that’ll be me in a few years

 

[Robert21]

S and p 500 is a classic option. Fairly low long-run risk with strong, historically demonstrated growth rates.

You could look into index funds that are even more diversified e.g. VDHG and Vanguard's other ETFs with varying risk tolerance

 

[Squar3root]

The median salary for being able to afford a house in Sydney is about 300k. Invest in finding a rich partner at this point

This is my plan

 

[Queenroot]

This is my plan

Is this person in the room with us

 

[HazzRat]

TIL there's an etf which tracks Nancy Pelosi's share trading called NANC (https://g.co/finance/NANC:BATS), and it did a 24% return this year. If we can't beat congressional insider trading we may as well join them ig

 

[HazzRat]

There's also a Ted Cruz ETF (https://g.co/finance/KRUZ:BATS) but it did a far less impressive 9% return

 

[Trebla]

Yes any trading job is where the money is at, iirc Jane Street quant trading grad roles are about 300k. I'd make the switch if I was still in uni.

Don’t think it’s that high for a grad? (maybe with max bonus achieved)

Even then, derivative trading roles are like insanely competitive (like almost investment bank tier competitive). It’s pretty normal for these places to only hire like <10 grads a year. They usually look for very maths orientated people rather than people in finance. If you are aiming for this role, make sure you have a pretty intuitive grasp of numbers and fluency in mental math calculations (i.e. no calculator) at a bare minimum.

 

[Squar3root]

Don’t think it’s that high for a grad? (maybe with max bonus achieved)

Even then, derivative trading roles are like insanely competitive (like almost investment bank tier competitive). It’s pretty normal for these places to only hire like <10 grads a year. They usually look for very maths orientated people rather than people in finance. If you are aiming for this role, make sure you have a pretty intuitive grasp of numbers and fluency in mental math calculations (i.e. no calculator) at a bare minimum.

Wasn't optiver and Jane street like 250k b4 bonus?

 

[idkkdi]

Wasn't optiver and Jane street like 250k b4 bonus?

dunno about optiver but js yes. though js hires like maybe 2 people from sydney for qt, and most who get js seem to get in as swe

 

[Trebla]

Wasn't optiver and Jane street like 250k b4 bonus?

It looks like the case for Jane Street from their official website as their “base salary” but I am not sure if it is also true for all similar firms.

There are some screenshots floating around of the Optiver website that suggest it is $250k total package (can’t locate it in their official website myself though). This seems to also be consistent with other sources such as Glassdoor. Also, when I was in uni Optiver was marketing their grad program having a base salary of $100k+. I would be surprised if the base salary has actually more than doubled since then. IMC also seems to have base salary around $125k with total package up to $200k.

Other thing to consider is that these places apparently have high attrition rates and a flat structure. So you prob need to figure out what your next career move will be not too long after getting hired, as it is likely going to be a short term stint.

 

[idkkdi]

It looks like the case for Jane Street from their official website as their “base salary” but I am not sure if it is also true for all similar firms.

There are some screenshots floating around of the Optiver website that suggest it is $250k total package (can’t locate it in their official website myself though). This seems to also be consistent with other sources such as Glassdoor. Also, when I was in uni Optiver was marketing their grad program having a base salary of $100k+. I would be surprised if the base salary has actually more than doubled since then. IMC also seems to have base salary around $125k with total package up to $200k.

Other thing to consider is that these places apparently have high attrition rates and a flat structure. So you prob need to figure out what your next career move will be not too long after getting hired, as it is likely going to be a short term stint.

nah not similar js pays the highest fairly sure

 

[Queenroot]

Don’t think it’s that high for a grad? (maybe with max bonus achieved)

Even then, derivative trading roles are like insanely competitive (like almost investment bank tier competitive). It’s pretty normal for these places to only hire like <10 grads a year. They usually look for very maths orientated people rather than people in finance. If you are aiming for this role, make sure you have a pretty intuitive grasp of numbers and fluency in mental math calculations (i.e. no calculator) at a bare minimum.

Yeah very few positions. Not the most reliable source but https://www.news.com.au/finance/wor...0/news-story/284c00dafcb26d16fa0935852cc83f0c

 

[cosmo 2]

zero interest rates are now done, investing is not going to be as lucrative in the coming decades as it was in the decades prior. you missed out

 

[Squar3root]

zero interest rates are now done, investing is not going to be as lucrative in the coming decades as it was in the decades prior. you missed out

the world will factory reset via a global recession (hopefully)

 

[HazzRat]

A call is basically when u bet with a stock broker that a stock with hit a certain strike price within a given time period (for American options at least). OTM just means out of the money (very risky). So what u do u buy a call for NVDA at say $600 within the next month (atm those calls go for abt $3.90), and every dollar it earns over $600 is urs to keep. If it doesn't hit the strike price u lose all ur money . Still funner than investing.

i didn't even realise but if i bought a $600 NVDA call for the 12 of Feb 2024 i would have made fuckin bank. With NVDA at $722.48, each call would have made a $188.58 return (from $3.9), netting an increase of 3041%.

beware everyone, when i turn 18 i will become the most prolific options trader to ever life even deepfuckingvalue will be sweating on his yacht