Having worked on Wall Street as a proprietary equity trader for many years and trading for over 2 decades, we traders have a fast-paced, stressful, and turbulent job. Trading is war between me and the rest of the traders in the entire world. It’s a battle of transfer of wealth and if successful, you can reward yourself with the spoils of war and the finer things in life. One the indulgences we Wall Street’ers love to splurge on, besides fine wine and exotic cars, is mechanical wristwatches.
Every trader must have his/her power watch(es). What’s the first thing I purchased with my first paycheck from trading? A new watch of course.
There’s a plethora of watches today of various designs – from your typical Rolex or conservative Patek Philippe or all the way to crazy Bell & Ross Skull watches or even a Romain Jerome Pokémon Pikachu watch. I don’t want you to blow your yearly bonus on “junk” watches or watches that are so ubiquitous like a Rolex Daytona. I want you to be bold and have style. Don’t be a boring person that just buys something because everyone else buys it. Be original and be a trend setter.
Perhaps you’ll like my suggestions below:
1) For the newbie cold-calling broker – Tudor Back Bay Bronze for $3,975.
There aren’t many watches today with a bronze case, but it’s a trend that’s starting to become more popular amongst the watch brands. There are bronze Panerai’s and even Montblanc has released several bronze watches recently. What’s awesome with a bronze watch is the unique patina that develops on the surface of the bronze over time as a result of oxidation.
The Tudor Back Bay Bronze is my favorite bronze watch today not only for its look but also because it’s a nice bang for the buck. Watches today cost an arm and a leg, and I’m happy I don’t have to pay 6 figures for this bronze watch. If your boss sees you wearing this watch, he’ll take notice that you’re not some piker broker but an up & coming broker with aspirations.
2) For the wet-behind-the-ears daytrader – Panerai PAM590 Luminor Marina in stainless steel for $6,600.
Still learning to trade but you’ve figured out that daytrading isn’t gambling but educated gambling? Make a good trade and skip the Rolex Submariner that you see every Joe Blow wear walking down Wall St. Be different and buy a Panerai. This PAM590 has all the design cues from my favorite Panerai models with the faux patina luminova on the hour markers to the “8 Giorni Brevattato” text at 3 o’clock.
A cool thing about Panerai’s is there are tons of aftermarket straps. Browse eBay or Amazon and you’ll find army green canvas straps to straps made from ostrich, shark, or even fish skin. Swap straps in 60 seconds to match your power suit or casual sports wear for a day in the Hamptons on your boss’s yacht.
3) For the junior broker – IWC Big Pilot in stainless steel for $12,900.
Survived the harsh 6-months of grueling cold calling for your boss while studying for the Series 7 stock broker license? After you open up your 20th account for your boss and he cuts your tie in half, celebrate your manhood into Wall Street with this simple Big Pilot watch. It’s one of the largest sized watches on this list, but hey … bigger is better right? 🙂 Plus, IWC is “Engineered for Men” and the large crown at 3 o’clock is to die for.
4) For the junior trader – Chopard L.U.C XPS for $16,780 in white gold.
Looking for a nice dress watch for the company Christmas party to impress the girl you’ve had your eyes on the past month? She’ll notice your bold Chopard XPS. It’ll tell her that you’re not boring but are a fun and vivacious individual who loves a watch with a more sophisticated modern design instead of your grandfather’s Patek. Remember for a Patek, “You never actually own a Patek Philippe. You merely look after it for the next generation.” Well…why do I want to own a watch that I’ll never own? I’ll take this Chopard instead…next!
5) For the senior broker – Hublot Big Bang Unico Full Magic Gold for $39,900 with rubber strap or $50,400 with gold bracelet.
You manage a team of 5 to 10 newbie cold-callers & junior brokers on your desk and need to show your team you’re the real deal. Buy a watch that makes a statement. Be bold and be admired. This Hublot certainly fits the bill.
Roll your sleeves up and close that big whale everyone’s been trying to close for the past year – be Bud Fox and close Gordon Gekko. Pound the table when you’re going through every rebuttal in your book with the whale on the phone. Don’t worry about scratching your watch as you pound away since this Magic Gold is Hublot’s proprietary 18kt scratch-proof gold alloy.
6) For the senior trader – A. Lange & Söhne Datograph Up/Down for $90,200 in platinum or $70,200 in pink gold.
You’re the sophisticated trader who doesn’t reveal his secrets. Everyone on the trading floor is trying to copy and mimic your money making proprietary algorithms. Let them keep scratching their heads as you get to reap the rewards of those countless all-nighters perfecting your algorithm. Smile at this Datograph every time you look at the display back, and enjoy the German silver of probably THE sexiest chronograph watch movement ever made.
7) For the vice president – MB&F Legacy Machine Perpetual for $155,000 in white gold.
You just got promoted to Vice President and it’s time to celebrate! This LM Perpetual is what I consider MB&F’s sexiest watch ever made so far. It’s going to be tough to topple this bad boy. Not only is this watch a conversation starter, it also looks like a horological machine from outer space. Being Vice President has its privileges with the corporate expense account, so wine & dine your clients at Peter Luger’s, and don’t forget to strap on this piece-of-art for your wrist.
8) For the managing director – Breguet Tradition 7047 for $189,700 in platinum or $175,600 in rose gold.
You’re one of the Managing Directors at your firm so all eyes are on you. Show your staff that hard work does pay off. This Breguet tourbillon has a fusée chain transmission (see the bicycle chain at 4 & 5 o’clock position) which helps ensure constant force to help improve accuracy of the watch. It’s a perfect power watch for your morning meetings to let your minions know to not fret working in the wee hours of the night reading analyst research reports or cold-calling 200 Dun & Bradstreet leads in a single day. Hard work does pay off. And it doesn’t hurt to have some good luck too.
9) For the all-star hedge fund manager – Audemars Piguet Royal Oak Offshore Grande Complication for $717,900 in titanium.
You’re going to be on the cover of Forbes Magazine one day, so you better have an “in-your-face” watch ready for the photo shoot. This Audemars Piguet Offshore Grand Comp Minute Repeater definitely fits the bill. It’s a new watch which debuted at the annual Geneva watch fair last week and is a limited edition of only 3 pieces. So better call Amex Black Card Concierge and instruct them to get AP to allocate one for you. If they’re unable to, this AP is also available in red gold & white gold versions, of which costs an additional $175k. But what’s $175k. That’s chump change for anyone making 8, 9, or 10 figures each year.
Hedge fund manager Bill Ackman dons a $750k Patek Philippe 5216P for his Forbes cover photo shoot. That’s how you do it. Alpha style!
10) Another watch for the all-star hedge fund manager – Richard Mille RM 50-03 Tourbillon Split Seconds Chronograph Ultralight McLaren F1 for $980,000.
For the macho Alpha male that wants a million dollar watch, then I highly suggest this new Richard Mille McLaren Tourbillon. It’s so superlight (only 40 grams including the strap) that you won’t even know you’re donning a million bucks on your wrist! That’s almost $25,000 per gram!
The watch case is made out of carbon and injected with Graphene, a revolutionary nanomaterial 6x lighter than steel but 200x more resistant.
My colleague Melvyn already wrote about this watch recently on AlphaLuxe, so you can read more here.
And lastly, I want to include 1 ladies watch for our female Alpha readers, so:
For the lady Wall Streeter – Bulgari Serpenti Tubogas for $5,400 (stainless steel & single coil) to $52,000 (rose gold w/ diamonds & double coil).
There are more expensive Serpenti Tubogas variants with tons of diamonds and jewels for more added bling bling, but I’m not going to suggest those as some are one-offs and vintage pieces no longer in production. These simpler models are far better for everyday wear and add that sexy, exotic Cleopatra beauty to your glowing aura.
The Tubogas bracelet wraps around your wrist and forearm like a snake. Fits like a glove but isn’t tight and restrictive, and pairs well with your Gucci suit.
There’s a watch out there for you that will make you tick. If you don’t like my above suggestions, keep looking. You’ll know when you’ve found your watch. When you do, you’ll find yourself staring at your wrist in the car while waiting for the red traffic light to turn green. And once you’ve found your 1st, you’ll be ogling for your 2nd, 3rd, etc…
Work hard, play hard. That is the life of a Wall Streeter.