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44 sats \ 5 replies \ @bhatiaipc OP 4 Oct 2022 \ parent \ on: I'm Nik Bhatia, founder of The Bitcoin Layer and author of Layered Money. AMA. bitcoin
i spent 1 year in back office, 1 year in risk, and 4 years on a trading desk as a trader. all four years i traded for execution. the last two of those years i also contributed to strategy, including having my own trades on. used bloomberg and my own excel spreadsheets for everything. the spreadsheets were built with help from in house mentors as well as sell side sales and trading and research folks.
spent*
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How profitable is trading bonds for these institutions.
It's kind of obvious that buy&hold Botcoin would have done better ...
but would a buy&hold portfolio of bonds&index ETFs have done better? Why do these institutions even bother?
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bonds as an asset class are a fixture of finance. fixed coupon securities have a very powerful effect on financial planning, especially across decades. one year's returns do not make or break an asset class. bitcoin is a very young asset class and quite beyond the mental reach for most institutional investors.
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So should your ex-employer fire all traders and just buy&hold the S&P500? Yes or No?
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my ex-employer is a fixed income manager tasked with short-term capital preservation and hyper liquidity, so no
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