Posted on May 25, 2017 in Press
When Michael Savini came to Wall Street in 2006, banks and brokers had stocked their annual recruiting classes with a preponderance of new hires who shared at least one thing in common: They’d played college sports.
Yet these days, when he attends mixers for former wrestlers in finance, Mr. Savini, 42 years old, says he hears more gripes than enthusiasm. If college athletes asked him for advice in pursuing a career on the trading floor, he said, his message would be a simple one.
Don’t.
“These guys are on the wrong side of Moore’s Law,” said Rett Wallace, a former investment banker, referring to the axiom on the exponential growth of computing power. “When Airbnb can handle two million unique properties at once, and Uber can manage more than a million drivers around the world in real time, are we really saying that a few hundred thousand bond issues can’t be traded by computer?” said Mr. Wallace, who now runs Triton Research, a provider of data on technology companies. “It’s only a matter of time before this is figured out.”
Read full article at WSJ.com
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