Barclays Capital: Sales and trading (internship)

Question

How do you think the current oil price will affect trading conditions?

Candidate's answer

Here I first mentioned the current price of oil and its trend over the past year, particularly its dramatic drop. I then mentioned a few major bulge bracket forecasts for oil (eg, Merril Lynch at the time forecasted $25 a barrel). I was slightly perplexed at what was meant by 'trading conditions' so I tried to link it into the manufacturing index, and how a drop in oil prices could boost demand and production, especially since the UK and US are net importers. I also mentioned the volatility and how this could be very profitable, especially for derivative traders.

Question

What do you think are the characteristics needed for a good trader?

Candidate's answer

Quick mental numerical skills, ability to make a decision based on probabilities rather than absolute certainty (traders have to be right 51% of the time), ability to lose or gain on particular trades without this affecting future trading decisions, to be driven by profit and eager to take every day as completely different and start afresh without cumulative effects from the recent past.

Question

Give me an example where you have been creative to get out of a tricky situation.

Candidates answer

Here I used an example of when I went travelling in Thailand.

To summarise, I completely ran out of money and could not get to the airport to catch my flight home, and had lost my phone and all my friends had left the day before. I realised the tuk tuk drivers got petrol vouchers for taking foreign passengers to suit shops even if they did not buy suits. So I bargained with a tuk tuk driver and he took me to the airport on the condition that we stop at five tailors where I had to try on different suits and subsequently decline politely. I arrived at the airport in time, and got back to England in one piece.

These questions were provided to us by a candidate claiming to have interviewed at the institution named above. We cannot guarantee that these were the actual questions asked.