Exclusive interview with prop trader Mike Bellafore (SMB Capital)

Prop Trader Mike Bellafore – a beautiful samurai warrior behind his trading place

The Great Samurai Warrior has the perfect combination of aggression and discipline.. Too much aggression – and the warrior becomes at risk of defeat. Too much discipline, and the warrior will never be able to attack. .

By pressing the exit button in a career in law, Mike Sent a Sharp Analytical Mind to Wall Street. Having survived the fashion of day trading on the technology boom in the late 90s, Mike teamed up with a close friend. Steve Spencer, to launch your own store: SMB Capital. Although the core of SMB's business is proprietary trade, the company also has a mission to develop training programs for traders. After researching several of their new learning products., I will be able to confirm, that SMB is good on the way to achieving its goal.

 

Recently, I was lucky enough to sit next to Mike and learn about his career., about that, как он поднял SMB Capital, and his wisdom for traders.

“Trade – it is the ability to develop and discipline”

Mike Bellafore

Damien Hoffman: Mike, as I, You are a lawyer by training. What made you leave the practice of law and move on to trading??

Mike: I was in my third year of law school., when I realized that jurisprudence – it's not the same, what I need. My best friend, Steve Spencer, invited me to New York for a celebratory dinner. Steve and his roommate from Wharton (School of Business), Jared Keben, convinced me, that I should consider trading with their company. That's why I did it.. In a nutshell, it was the best opportunity, which I had after graduating from law school.

Damien Hoffman: What was your reaction?, when you first saw the trading floor and trading guys?

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Mike: My first reaction was to laugh just at the thought of it.. When we first started trading, there were no schedules. There was also no CNBC or news feed.. We had one old computer and no air conditioning. [both laugh].

Damien Hoffman: What a year it was??

Mike: 1998. When it got too hot, our decision was to send a gang of messengers for ice cubes and ice cream sandwiches. [both laugh]. We were in an unimpressive building on 50th Board Street.. The ceilings were 7-8 feet. We were all cramped., and perhaps to my left and right was 6 feet. I had to use the phone with another person. This, undoubtedly, not a picture of really rich Wall Street firms, that you could see in the movies. But the environment was competitive., filled with guys, who really like to trade, guys, who make a lot of money, good guys, and cheerful guys. Even with such an unimpressive infrastructure., it was a great opportunity.

Damien Hoffman: That sounds fun..

Mike: And so it was.!

Damien Hoffman: How did you succeed in that environment and get off the ship?, to start your own business?

Mike: That's a good question.. After a year at this firm, I had enough money., to trade on your account. And for more than ten years, this is what, what I do. Then came the moment., when trading became insufficient for me. I wanted to do something else. – something big, due to the lack of a better word. At the time, I found out., that there are many start-up companies, which attracted traders. I started thinking about, how I have learned over the past ten years and gained skills, which could serve well for that, to start this type of business.

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