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Smart Money: If you don't know who the patsy is, you're the patsy
Many Happy Returns
The Most Valuable Traders on the Trading Desk at an Investment Bank
The most valuable traders on the trading desk at an investment bank are the ones which somehow have this godlike insight that's hugely powerful intuition. If you can get a trader that can do that then you know that's immensely valuable to a market maker. And if someone's buying in scale then the idea is it's going to move the market and you'd rather quote a higher price because the price is going to go up so you don't want to sell them until the price has gone up.
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