• 27 Jul 2009 at 3:24 PM

Prop Traders Quitting At JPMorgan

By Bess Levin

Apparently a “large number of JPM senior macro prop traders” have just left the House of Dimon. No word, yet, on where they’re headed or how JD took it.
Update: Supposedly the defectors are BarCap bound.

Comments (64)

Newer Comments
  1. 1
    Posted by guest | July 27, 2009 at 3:28 PM

    citadel?

  2. 2
    Posted by guest | July 27, 2009 at 3:28 PM

    I heard they “bugged” out earlier today.
    ~Trader With Too Much Time on His Hands

  3. 3
    Posted by guest | July 27, 2009 at 3:29 PM

    @2 what are you talking about?

  4. 4
    Posted by guest | July 27, 2009 at 3:30 PM

    wasn’t me
    –KG

  5. 5
    Posted by guest | July 27, 2009 at 3:31 PM

    Jefferies.

  6. 6
    Posted by guest | July 27, 2009 at 3:31 PM

    If a trader traded smaller fractal equity price patterns within larger Elliot Wave patterns would he she be a ‘Micro wave” trader?

  7. 7
    Posted by guest | July 27, 2009 at 3:32 PM

    RBS & BAC

  8. 8
    Posted by guest | July 27, 2009 at 3:33 PM

    @5 good one

  9. 9
    Posted by guest | July 27, 2009 at 3:34 PM

    @7 seriously?

  10. 10
    Posted by guest | July 27, 2009 at 3:36 PM

    citadel…

  11. 11
    Posted by Seaman Bodine II | July 27, 2009 at 3:36 PM

    MS for 72% reserves and serious GS envy

  12. 12
    Posted by guest | July 27, 2009 at 3:36 PM

    @9 no not seriously. theyre really heading to UBS……

  13. 13
    Posted by guest | July 27, 2009 at 3:36 PM

    @3 – earlier story on bedbugs
    -Guy embarrassed that he read earlier story

  14. 14
    Posted by guest | July 27, 2009 at 3:37 PM

    @13 ahh, sorry, a bit slow this afternoon.

  15. 15
    Posted by guest | July 27, 2009 at 3:37 PM

    Phibro.

  16. 16
    Posted by guest | July 27, 2009 at 3:37 PM

    Kidder Peabody.
    I’m serious.

  17. 17
    Posted by guest | July 27, 2009 at 3:39 PM

    @16 not sure why but that made me chuckle

  18. 18
    Posted by guest | July 27, 2009 at 3:40 PM

    They’re headed to RBS to make $1/day and deferred ass-poundings by the queen.

  19. 19
    Posted by guest | July 27, 2009 at 3:40 PM

    @3….if you’ve been visiting the site today you would have seen an earlier post about bedbugs at JPM. In @2′s “joke”, a verbal or written structure designed to cross wire one’s synaptic responses in the reader’s or listener’s brain’s abilities pertaining to cognitive perception and, as a result, release chemicals causing one to “laugh” or “guffaw” or “giggle” as we say in the parlance of our time, @2 wove into the fabric of his joke a reference to the bedbug story and “sudden departures” which, in one slang way can be referred to as “bugging out”. As such, a “pun” type of joke was written and offered up for critique or comment either of which benefits this site and promote continual reading on a regular basis.
    I hope that helped.
    Sincerely,
    ~The Joke Briefer

  20. 20
    Posted by guest | July 27, 2009 at 3:41 PM

    @18 this is true. I’m also going to let the highest earner lick my clit.
    -Queen E

  21. 21
    Posted by guest | July 27, 2009 at 3:42 PM

    They are going to bring back Enron.

  22. 22
    Posted by guest | July 27, 2009 at 3:43 PM

    @19 every time. every SINGLE time!

  23. 23
    Posted by guest | July 27, 2009 at 3:46 PM

    RBSGC to get blown by the Queen’s corgis.

  24. 24
    Posted by guest | July 27, 2009 at 3:48 PM

    @23 this is true.
    -Liz

  25. 25
    Posted by guest | July 27, 2009 at 3:49 PM

    they were offered gigs restraining maria in the presence of candy.

  26. 26
    Posted by guest | July 27, 2009 at 3:50 PM

    I heart 19

  27. 27
    Posted by guest | July 27, 2009 at 3:52 PM

    @25 COLD

  28. 28
    Posted by guest | July 27, 2009 at 3:52 PM

    @19
    So the bugs are leaving JPM?
    -Lehman Quant

  29. 29
    Posted by guest | July 27, 2009 at 3:52 PM

    Robbie Stephens

  30. 30
    Posted by guest | July 27, 2009 at 3:53 PM

    THE JOKE BRIEFER RETURNS!!!
    ENCORE JOKE BRIEFER!

  31. 31
    Posted by guest | July 27, 2009 at 3:58 PM

    @28….very well played! Like adding frosting to the original joke. You are clearly a professional!

  32. 32
    Posted by guest | July 27, 2009 at 3:58 PM

    @19 kill yourself

  33. 33
    Posted by guest | July 27, 2009 at 4:00 PM

    @12 – Seriously?

  34. 34
    Posted by guest | July 27, 2009 at 4:00 PM

    Charles Schwab

  35. 35
    Posted by guest | July 27, 2009 at 4:01 PM

    pretty sure robbie stephens is one of the defectors.

  36. 36
    Posted by guest | July 27, 2009 at 4:02 PM

    To everyone who wrote a destination: Seriously?

  37. 37
    Posted by guest | July 27, 2009 at 4:03 PM

    J.T. Marlin – they’re gettin the band back together.

  38. 38
    Posted by guest | July 27, 2009 at 4:03 PM

    I’m seriously disturbed at the number of people on this site that require the Joke Briefer. However, it’s good to see the quality of the responses improve. After months of Sham Wow, TLDR and secretary ass poundings, we now have the Joke Briefer, the receipt guy and Greg’s mom (although bordering on just plain mean).

  39. 39
    Posted by guest | July 27, 2009 at 4:06 PM

    Munger Choadley & Grundleson LLP
    Seriously, I am being serious.

  40. 40
    Posted by guest | July 27, 2009 at 4:06 PM

    [the sound of bed bugs chirping]

  41. 41
    Posted by guest | July 27, 2009 at 4:09 PM

    @19 Nice. That was better than the original “joke”.

  42. 42
    Posted by guest | July 27, 2009 at 4:10 PM

    @36: Montgomery

  43. 43
    Posted by guest | July 27, 2009 at 4:11 PM

    Are you guys for seriously?

  44. 44
    Posted by guest | July 27, 2009 at 4:14 PM

    Totally serious. Dead serious. Serious as a heart attack.

  45. 45
    Posted by guest | July 27, 2009 at 4:19 PM

    @40 FTW…seriously!

  46. 46
    Posted by american bandersnatch | July 27, 2009 at 4:19 PM

    @37 – They’re macro prop traders on a mission from god. The Dows at 9,000, they got Lehman as a prime broker, they have a broken bloomberg terminal, and they’re wearing sunglasses …

  47. 47
    Posted by guest | July 27, 2009 at 4:21 PM

    @46 FTW

  48. 48
    Posted by guest | July 27, 2009 at 4:28 PM

    I was just kidding before. Seriously, I was joking.

  49. 49
    Posted by Porker Stankleberry | July 27, 2009 at 4:28 PM

    Alex Brown. True story.

  50. 50
    Posted by guest | July 27, 2009 at 4:33 PM

    They are headed to Long Term Capital version 3.0.

  51. 51
    Posted by guest | July 27, 2009 at 4:38 PM

    50 – the us govt

  52. 52
    Posted by guest | July 27, 2009 at 4:41 PM

    How long until the FBI snags them for allegedly stealing the special sauce?

  53. 53
    Posted by guest | July 27, 2009 at 4:45 PM

    Goldman did it!

  54. 54
    Posted by guest | July 27, 2009 at 4:51 PM

    @46 Bring me four fried chickens and a Coke.

  55. 55
    Posted by guest | July 27, 2009 at 5:07 PM

    Damn I accidently swallowed a pice of eclipse gum I bought in the new convienient Big E Pak.

  56. 56
    Posted by guest | July 27, 2009 at 5:10 PM

    #55 accepted his own friend request…what a loser.

  57. 57
    Posted by guest | July 27, 2009 at 5:17 PM

    Stiefel Nicklaus. For real. I swear to God.

  58. 58
    Posted by guest | July 27, 2009 at 6:27 PM

    David Lerner Associates.
    Fo shizzle!

  59. 59
    Posted by guest | July 27, 2009 at 10:11 PM

    Pretty sure it’s TD Ameritrade.

  60. 60
    Posted by guest | July 28, 2009 at 6:00 AM

    so are we to assume they were getting guarantees from Barcs?

  61. 61
    Posted by guest | July 28, 2009 at 7:36 AM

    There aren’t many “macro prop traders” left at JPM after last year’s exodus to Citadel and subsequent shutting down of the prop group. Unless these are equity guys that were on the dealer side…

  62. 62
    Posted by guest | July 28, 2009 at 7:41 AM

    I’m hearing Edward Jones…in the strip mall by the bowling alley.

  63. 63
    Posted by guest | July 28, 2009 at 8:51 AM

    comment

  64. 64
    Posted by guest | July 28, 2009 at 9:49 AM

    get rid of the greg, get me more of this “jokes briefer”

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