WEBVTT

00:00:00.820 --> 00:00:02.800
>> My name is Scott Walters.

00:00:02.800 --> 00:00:06.920
I'm a trader for Legg Mason,
Private Portfolio Group.

00:00:06.920 --> 00:00:12.290
The Private Portfolio Group administers
somewhere around 35,000 accounts

00:00:12.290 --> 00:00:18.050
across the country and has around
15 billion dollars under management.

00:00:18.050 --> 00:00:25.140
My primary responsibility is to trade on behalf
of just a little over 20 portfolio managers,

00:00:25.140 --> 00:00:30.780
based out of New York City and San
Francisco and coordinate with them

00:00:30.780 --> 00:00:34.260
and all the other necessary
parties to accomplish that.

00:00:34.260 --> 00:00:38.510
So, really after 5:00 I begin my commute into
New York City and during that commute I'm trying

00:00:38.510 --> 00:00:43.160
to catch up on overseas information,
predominately Europe at that point

00:00:43.160 --> 00:00:45.640
because Asia will have been
closed for several hours

00:00:45.640 --> 00:00:50.760
and I'll probably already know what
happened in Asia the preceding evening.

00:00:50.760 --> 00:00:55.560
Spending my morning getting prepared for my day,
so thinking about the economic releases that are

00:00:55.560 --> 00:01:00.830
yet to come and how I'm going to
best suit my portfolio managers,

00:01:00.830 --> 00:01:03.090
should they decide to come
in and trade that day.

00:01:03.090 --> 00:01:09.110
I'll usually arrive at the office around 7:00,
a little before or after and spend my time

00:01:09.110 --> 00:01:15.740
between 7 and 9:30 continuing getting prepared
for the day ahead or we may already have orders

00:01:15.740 --> 00:01:19.640
in the European or Asian markets,
which we're working throughout.

00:01:19.640 --> 00:01:21.390
Well, 5:00 might not be necessary for everyone.

00:01:21.390 --> 00:01:25.700
I got a little bit longer of a commute than some
other people, but I think that it's important

00:01:25.700 --> 00:01:27.340
to get the day started on the right foot.

00:01:27.340 --> 00:01:32.560
So, although I hadn't scheduled a class my
freshman year before noon the first semester,

00:01:32.560 --> 00:01:35.690
this is just a lifestyle difference.

00:01:35.690 --> 00:01:39.550
And what's great about being a trader is
that when the New York market shuts down,

00:01:39.550 --> 00:01:43.940
generally the vast majority of our
work is done for the day and come 4:30

00:01:43.940 --> 00:01:49.580
or so if I've I done all the preparation work
correctly throughout the day, I can usually shut

00:01:49.580 --> 00:01:52.030
down my station and try and
get home at a reasonable hour.

00:01:52.030 --> 00:01:55.480
And it will allow for a quality
of life on the backend of my day.