Trading with Olde Discount Corp.

Abstract

To gain exposure to financial markets, I spent the summers of 1997 and 1998 interning under a private client group with Merrill Lynch. It was during these internships that the world of finance, and more specifically the financial services industry, captivated me. While searching for a Senior Individualized Project (SIP), I carefully pondered the numerous possibilities that the industry has to offer. I desired a job that was challenging, intense and fulfilling. A job in the securities industry was my most preferred choice. In the spring of my junior year, I read Liars Poker, by Michael Lewis, a very detailed and controversial account of the life of an entry-level trader with Salomon Brothers. Reading the book, piqued my curiosity about the trading profession, and I found the intensity and excitement involved very appealing. As a result, I decided that working as an intern on the trading floor of Olde Discount Corp., in Detroit, Michigan would be a perfect fit for my Senior Individualized Project. I served as an assistant on the Over the Counter (OTC) desk reporting trades and quotations for order flow. The daily life on the trading floor enabled me to further my knowledge of both equities and capital markets. During my internships with Merrill Lynch, I spent a significant amount of time learning the fundamental analysis of equities, and I viewed my internship with Olde as an opportunity to refine that knowledge and pursue other facets of the securities industry.