New Year

It's a new year. And what's that mean for Wall Street? Well, those who haven't reset their annual numbers in December now reset their numbers. Everyone's on a fresh slate. PnL, sales credits and deal closings are all zero or close to it. From today on, anything that happened last year for deals, trades, etc all are forgotten and you get a new chance to shine. Last year's rock-stars are no longer and need to prove themselves once again. Market liquidity comes back and bankers are back on the phones with new-found zest. There are few industries where each year brings a completely new set of risks and rewards. If you sucked last year, you could be the star player this year. If you were the star last year, you could blow up this year. It's a whole new game.

So what's this mean for you? It means you need to stop thinking about last year and start thinking about this year. Letting last year's victories and follies mess with your mind is the best way to screw up a new year. If you got on bad terms with someone, forget about it. If you screwed up a trade, don't think about it. If you lost a deal, it's history. There are new winners to be made.

What if you're still looking for that job? Well the new year brings opportunities for you too. Payouts happen between now and February, which just happens to be when people start moving around too. People quiting means openings in various positions. Firms have to hire to replace those who leave, and there will be a lot of people leaving their firms this year. February to April is the biggest hiring season for the Street. Look forward to it and pursue aggressively.

Good luck to all in the new year.