All Options in Charity
84 comments / December 25, 2012
First of all, a merry Christmas to all of you. And to stay in the mood, just read about the top seven financial donors to the city of Amsterdam. Charity is a good topic for today.
Number five on the list, right behind the ultra wealthy folks from Heineken and TomTom : Allard Jakobs.
The only one without a picture in the newspaper, but with his 44 years also the youngest. Bought the youth theatre De Krakeling in 2007 for eight million. Muy simpatico. Much better than the Concertgebouw.
The theatre doesn’t have Allard on the sponsor list, and newspaper Parool doesn’t have the Quote journalists on the payroll : but believe this story is true. Respect.
First!
Merry Christmas to everyone!
And well done Allard for his charitable causes!
All Options? Do they still exist?
how do you think serial punter Allard is carrying out his gambling, AO is hiring HR Business Partner if anybody in IMC HR has had enough of rob n pot
The word is “and” not “en”. Say it again
rob n pot
I have juicy information on the chicago office disfunction. the two clowns running chicago – not rob en wiet – are so pathetic it is sad.
How do I send the juicy information to you.
you can type in here or mail it to jack@amsterdamtrader.com
I have juicy information about Optiver’s free pizza… they are almost as hot as their recruiters!
Another rotten something in IMC Chicago.why does this not sound like a surprise.
Optiver’s recruiters? really, where’s saneke these days?
‘the two clowns running chicago’
why are they clowns and how do they compare to those running zug?
they are not really clowns, the comment brings out the frustration of a low level Chicago employee who doesn’t understand the politics and the dynamics of the decision taking at the top, this is then followed by an equally frustrated comment from another low level employee in Zug office who is living in perpetual fear of being laid off by the MD there
These two low level employees are the real clowns if you take a step back
Imc does not have any low level employees. Low lifes, that is a different comment.
why are there so many frustrated/low level/low life employees at IMC?
mediocrity at top begets mediocrity at bottom, you hire one incompetent and soon they wouldn’t hire anyone better
who are the top clowns at IMC worldwide?
B. van Toor and A. van Toor
I imagine that the low-level persons should get out. Many firms in Chicago like to see IMC n a resume. IT dones’t mean an offer, but usually means an interview.
You kidding me? Why would you think IMC is a positive on a resume?
Because only the incompetents rise to the top at IMC. Being fired at IMC is really a badge of honour, it means you were too smart. The rest of Chicago reconizes that.
ah ah, that’s funny, but be honest, it is never good to be fired, not even at IMC
‘B. van Toor and A. van Toor’
is there only one clown at top ? what’s his full name?
well just look at who IMC hired to be in charge of Chicago operations: Wim Den Hartog. the ultimate muppet. He is just an eye on he ground for Rob, who act as the policeman in the US. How can you get inspired working with that clown.
‘You kidding me? Why would you think IMC is a positive on a resume?’
they are looking for prior relevant experience and it’s hard to get a top tier experience to leave their original firm, so IMC is good enough?
‘Being fired at IMC is really a badge of honour, it means you were too smart.’
no actually it means you didn’t do what you were told by the top and by equating that to genius, you are delusional and up your own arse
‘The rest of Chicago reconizes that.’
the rest of chicago couldn’t give two shits about why you got fired from IMC
‘ah ah, that’s funny, but be honest, it is never good to be fired, not even at IMC’
precisely, make a quite entry of the that door on your left, either to another firm or for some well deserved break?
‘well just look at who IMC hired to be in charge of Chicago operations: Wim Den Hartog. the ultimate muppet.’
How did you conclude that?
‘He is just an eye on he ground for Rob, who act as the policeman in the US.’
if you were in rob’s shoes, you wouldn’t do much different, trust, empathy is hard for you financial types
‘How can you get inspired working with that clown.’
you, the door on the left, have a wonderful life
Hartog is a spineless monkey muppet. He needs 2 balls but may not have either. Even for a Dutch he is a cheap bastard and has pissed off a lot of people already
What about the tax cheat Osi. Is he creating fraud in Chicago.
what’s actually the task of Wim Den Hartog? What is he doing all the day?
he is the management, keeping an eye on all you rebellion muppets is task enough for the whole day
‘pissed off a lot of people already’
how did hartog manage that?
‘What about the tax cheat Osi. Is he creating fraud in Chicago.’
it’s better referred to as tax optimization and it’s the most capitalist activity a business can undertake, you are welcome to pay up to obama if you can trust him to spend your dollar well
‘he is the management, keeping an eye on all you rebellion muppets is task enough for the whole day’
is this also his main competence? In what is he good?
Who cares – oprotten met die profiteur
he knows about trading, long industry experience
Who cares – fuck off with that profiteer
‘is this also his main competence? In what is he good?’
what do you want him to do?
wim knows nothing about trading – what are you talking about. Hes just worked in prime brokerage.
he is the imc policeman of the USA
thats it! And he is as thick as shit!
He was just about to be fired at Goldman so at least he managed to get another job!
lol, everyone is about to be fired from somewhere, so talk about something new, weren’t you getting fired from IMC and so now trying to get another job?
‘wim knows nothing about trading – what are you talking about. Hes just worked in prime brokerage’
yes, its well known he in not an ex-trader, you don’t need to be one to be the office manager, isn’t head of trading at IMC Chicago an ex-trader, why do you need office manager to be ex-trader too?
‘And he is as thick as shit!’
just because he is not an ex-trader and doesn’t understand trading strategies doesn’t mean he is stupid about life, he is your god damm office manager, he must know few essential things about life that you bone-heads are yet to figure out
‘wim knows nothing about trading’
what do you think managers know about algorithmic trading? Not even former traders know about it, so why can’t he successfully manage a trading company and perhaps also develop the business?
what exactly is the big secret about algo trading that is yet to be figured out? you find some bloody correlations, signals, backtesting blah blah and keep calibrating to the changing market conditions
Wim den Hartog…what a clown. Dealt with him while he was a GS. He is the living proof that to work at GS you don’t necessarily need to be dumb but it helps a lot.
Knew Hartog from London days. He worked part time and all he did was kiss client ass. He was thick as shit and completely clueless about the business. He could sell hedge funds Goldmans balance sheet and that was all. He was insecure and a BS artist. Also he was really bitter about Goldman and spared no moment to talk shit about others behind their back. IMC people better get used to a untrustworthy clown who will just do whatever Rob tells him. He will not be able to think independently. My money would be that he will mess up the US regulations and will then get fired. I think he will have to get his FINRA licenses. Money is also that he will not take them and will keep pushing out the date. He will never pass it.
More to come……..
‘He is the living proof that to work at GS you don’t necessarily need to be dumb but it helps a lot.’
dumb people do make it into goldmans, jp, it doesn’t mean the organization doesn’t try to cull out poor performers, overpaid, lazy replaceable arses with offshore resources, but it of course takes time and its not 100%, ever much heard of mass redundancy at gs, jp, barc or for that matter optiver, that’s because these companies keep getting rid of rot all through the year and doesn’t wait for the redundancy year end round on an overbloated organization
‘He worked part time and all he did was kiss client ass’
he was paid on part time work hours and his job was to kiss client arses? you haven’t seen investment banks hiring tall swedish blonde, the oldest cliche in the book, to handle the largest investment manager in japan as the most prized after client?
‘He was thick as shit and completely clueless about the business’
he wasn’t hired as quant or trader, he did what he could, not everybody is a smart arse.
‘He could sell hedge funds Goldmans balance sheet and that was all’
That’s what most sell side sales do, that’s why brokers don’t hire them for their ‘selling’ skills, they are of course at times unaware of even that little technicality.
‘He was insecure and a BS artist’
he recognized his lack of talent and found a work around, no credit for him?
‘Also he was really bitter about Goldman’
understandably, jealousy and resentment are most basic and expected emotions in this situation, what’s your point?
‘and spared no moment to talk shit about others behind their back’
all these banks, traders are cut throat, if you can’t handle little back stabbing like that, then you might as well throw the towel in now
‘IMC people better get used to a untrustworthy clown who will just do whatever Rob tells him’
IMC people are well aware of this fact over last several months since the news broke out, what’s new?
‘He will not be able to think independently. My money would be that he will mess up the US regulations and will then get fired’
The number of times you hear that, for most people in the industry, ‘he is a moron and will soon get fired’
‘I think he will have to get his FINRA licenses. Money is also that he will not take them and will keep pushing out the date. He will never pass it.’
those are of course really difficult exams which doesn’t even require an IQ of 50
‘More to come……..’
you are going to talk about his lack of abilities in bedroom too?
@6:05 +1
happy new year from Hong Kong!
@4:40 +2
@7:02 Hi Scott
happy new year from Euroland!
who is Scott?
Does Wim still wear that blue shirt everyday? Me thinks he only wore a blue shirt all the time.
Probably a leftover from his GS days.
so what if his only preferred color is blue?!
So what if he does not like to buy clothes or take a bath or spend money. He is Dutch after all.
guys, who cares about his shirts, what matters is how well he is managing chicago
here we go again, with another loser, this time using sarcasm to hide his fear of being laid off and being found to be easily replaceable by bright fresh young grads
‘So what if he does not like to buy clothes or take a bath or spend money. He is Dutch after all.’
who says he is not taking bath, he is not french. he might be a cheapstake saving on perfume, but then he is not alone along with his tight arsed chinese and jewish friends
is it true that IMC constantly replaces senior people with cheap young grads? Even for the young grads this is not so great as they would be replaced soon, are they aware of that?
bonus is a year end carrot that distorts the long term view, as for the young grads, there is 50% unemployment in lot of places, they’ll take any job they get.
‘is it true that IMC constantly replaces senior people with cheap young grads?’
all the companies do that, if you are replaceable, don’t expect the employee union to come save your ass
‘is it true that IMC constantly replaces senior people with cheap young grads?’
yes, it is also true that the best companies don’t do that (e.g. DEShaw, renaissance, etc.) as it makes no sense to spread trading know-how
‘Even for the young grads this is not so great as they would be replaced soon, are they aware of that?’
yes, they are aware. Every headhunter in London can confirm you that basically all traders/researchers at IMC Zug submitted their CV
‘it is also true that the best companies don’t do that (e.g. DEShaw, renaissance, etc.) as it makes no sense to spread trading know-how’
it is quite possible deshaw and renaissance have some real ip, imc is market making house, train up a monkey and he can join the bid and offer, no need to maintain old hands or their great trading secrets
‘Every headhunter in London can confirm you that basically all traders/researchers at IMC Zug submitted their CV’
they are not useful for IMC no more, what’s wrong with them looking for a new job? IMC is not a bloody japanese company that is going to give you life time employment, if you can’t make your self useful for your firm, there’s the door on your left, have a good life
@9:03. The door can be in the front, back, right too.
It is hard to make one useful in a firm like IMC where Rob already have a set stubborn view of the world. The partnership takes after him and keep their jobs and compensation secure. This means hiring recent grads and firing experienced. This is the model at IMC like it or not. IMC does not value most workers plain en simple. Den Hartog is just another Rob hand puppet who is there to enforce Rob’s stubborn view of the world. Osi is there to watch over Hartog to make sure he does not stray from Robs script.
Pitiful if you ask me.
are you saying that also Hartog is a yes man?
of course he is a yes man, that’s why he has been hired, is that not obvious to you, how old are you
‘@9:03. The door can be in the front, back, right too’
yes, you can pack up your bags and pick any of them, your point?
‘It is hard to make one useful in a firm like IMC where Rob already have a set stubborn view of the world. The partnership takes after him and keep their jobs and compensation secure.’
no it isn’t hard, you can make yourself useful by saying yes. Most firms of this nature have similar sort of format, take for eg citadel, brevan, paulson, bluecrest, renaissance, appaloosa, winton, the founder runs in the way with his view, his way or highway, how hard is that?
‘This means hiring recent grads and firing experienced’
That’s because they do market making, you can hire a monkey and train him to join the bloody bid-offer, how hard is it for you to understand this simple little fact?
‘This is the model at IMC like it or not’
It’s not for anyone to like, it’s a for-profit company and does what it needs to maximize profits, again, it’s not a god damn japanese car manufacturer aiming to give you stable 40 year employment with high bonuses on top
‘IMC does not value most workers plain en simple’
no company does that, they can’t afford to, if you are slacking off or over paid or replaceable by cheaper grad/offshore, you’ll be shown the door on your left, or right or back or front, take a pick
‘Den Hartog is just another Rob hand puppet who is there to enforce Rob’s stubborn view of the world’
this is common strategy used by people at top, they all want to maintain the absolute control and need people like hartog who can be entrusted with the job
‘Osi is there to watch over Hartog to make sure he does not stray from Robs script’
who is osi, why is hartog going to stray from the script?
‘Pitiful if you ask me’
that’s real life, and how old are you?
IMC does say that people are their most valuable asset. So 8:50pm what do you say about that. Does IMC lie. Sure you will say all companies lie.
So you’re saying that the owners can do as they wish and oppress a mass of replaceable employees ? Damn ! Karl Marx was so dead right if class warfare even applies to market making firms
‘if you can’t make your self useful for your firm, there’s the door on your left, have a good life’
fair enough, but why is IMC not saying this in the HR web page? So either HR is lying to fresh graduates or HR does not agree with the hiring & firing philosophy of the company, both cases are bad
‘IMC does not value most workers plain en simple’
Maybe the problem is those traders that all expect to make half a million euros bonuses after two years of trading. IMC values most workers, just not at the price that the traders think they should be valued at… If people were still willing to work for 50-100k after a few years, like their fellow uni graduates who work in normal jobs, there wouldn’t be much reason for IMC to get rid of them.
say what you want but it is not normal to systematically replace the expensive staff with the cheap, normally under performers are fired. What do you think the average age of GS employees is 26 years?
Have you ever been in a Dutch supermarket? You’ll have a hard time finding anyone over 20 there. People don’t work at Albert Heijn because they’re great performers, but because they’re cheap. Bars and restaurants the same. Or shop assistants. Or Foxconn.
I think you need to redefine ‘normal’.
IMC is not a Dutch supermarket, the comparison is completely inappropriate. IMC people are highly specialized and the times of running a monkey mm strategy are over.
Why are these discussions always focused around IMC… to be honest, the Optiver culture is exactly the same.
trading is stupid. everyone competing to ‘beat the market’
rather be a broker selling sht to you useless people that all think you are smarter than each other.
i’ll rephrase that… because i know some of you geniuses will say you try and ‘arb’ the market. …. .
market making is stupid. industry is dead. looking forward to employing a lot of you as a junior sales guy, professing how your knowledge of the market will make any difference to a client.
bunch of muppets.
and yes, i am an ex market maker….
‘and yes, i am an ex market maker….’
and what are you now?
‘normally under performers are fired. What do you think the average age of GS employees is 26 years?’
got this one wrong, if the average age of GS employee is not 26, that’s because they are full service investment bank, not a two-bit dutchchie mm.
If GS goes advises xstrata when glencore is making a bid for it, would a 25 hot shot trader do the job for gs or do you need seasoned executive to get the deal through?
that’s their banking business, coming to asset management, would a 27 year old be in charge of their American investment portfolio worth billions?
what about the prime brokerage, research, quant, tech?
the only place these 25 year old kids can open their mouth is god-damn derivatives sales and market making, precisely the business of IMC, so goldman is no different
Optiver made a lot of people rich. IMC made Rob rich. That is the difference between the two firms. That is why IMC is ridiculed on these blogs and in the industry. Optiver is Barca. IMC is the North Korean team. The two are not even close with regards to management.
‘johann retains an actual professional management.’
and rob retains a team of clowns
love how the genius traders assume brokers just make money from voice broking orders…. ever heard of equity raisings? corporate advice fees? keep grinding out that tick or two boys…