VIDEO: Wall St. Cheat Sheet Top 3 Traders Under 30 on Yahoo TechTicker
From our appearance on Yahoo Tech Ticker with Henry Blodget at the Nasdaq …
A few years ago, a magazine called Trader Monthly popularized a ranking of the “Top 30 Traders Under 30.” In those days, successful traders were a dime a dozen and celebrating dynastic wealth was much in vogue, so the magazine’s list was a favorite on Wall Street.
Fast forward a couple of years and Trader Monthly and its “30 traders under 30″ have gone bust, victims of the crash and collapsed advertising revenue. But Wall Street is back, thanks to the government bailouts and the Fed’s zero-interest-rate-policy. And traders young and old are minting money again.
Of course, with the country’s unemployment rate still hanging near 10%, celebrating massive windfall wealth is no longer wise, especially at firms bailed out by the taxpayer. So most of today’s successful Wall Street traders have the good sense to keep their mouths shut.
Earlier this year, the folks at Wall Street Cheat Sheet, Damien and Derek Hoffman, decided to reincarnate the Trader Monthly list. They spent 8 months looking for 30 traders under 30. Alas, thanks to institutional reticence and the Hoffmans’ insistence that the traders they celebrated had to have demonstrated a track record longer than a single lucky year, they only came up with 3.
But these 3 traders under 30, the Hoffmans say, are worth their weight in gold. (Which is good, because they’re probably paid at least that much.) “Definitely they’re making millions,” says Damien Hoffman, but beyond that it’s hard to get an exact figure he admits.
Here are the Top 3 Traders Under 30:
#3 Jan Sramek, Goldman Sachs. Age: 23 Sramek makes his fortune as a trader on the Emerging markets desk at Goldman’s London Office. At the tender age of 23, he’s already published the book Racing Towards Excellence, founded and sold a social media website and has the ear of most of London’s major hedge fund managers.
#2 Gilbert Mendez, SMB Capital. Age: 28 After studying mechanical engineering at Columbia University, Gilbert built a black-box trading model for the global Forex currency market. He then sold it before becoming the “head trader” at SMB and now its youngest partner. He presently focuses on trading equities.
#1 Adam Guren, First New York Securities. Age: 28 This Duke graduate and former professional soccer player gets little sleep trading markets all over the world, at all hours of the day. He cut his teeth trading Chinese equities but now looks to profit on any market volatility around the globe. He starts his process by logging on premarket. Then he spends approximately an hour, sometimes thirty minutes, seeing if there’s news out in the basket of stocks he follows. This is how he figures out if there’s any opportunities because he looks for newsworthy events that are going to move his stocks, according to the Wall Street Cheat Sheet.