I am a Collateral Analyst at a large mortgage lending company.  I
would like to know how this type of position is looked at by the big
Wall Street firms.  My goal is to become a Bond Trader.  Is this a
good way to start?  Any advice or suggestions would really be appreciated.  I am
looking for someone who has been a Collateral Analyst and moved on
from there.  Where are you now?  Or I would like to hear form someone
who is more senior and knows a lot about Finance and the Fixed Income
world.  The more you give the better.  Thanks!

Can you provide more detail on your job function. I assume you deal
with residential mortgages, but do you do so one by one or in
aggregate? How much of your job is plug-and-chug analysis of risk
factors, appropriate rates, valuation forecasts, etc?

To be a FI trader, you need all of the quantitative knowledge, but you
also need the "gut" and selling ability.

Don't forget that there's also FI research. It's a nice compliment to FI S&T.

Frankly, I don't think you are paving a career to becoming a bond
trader directly! You might find chance but I dont think its very
common. But you haven't mentioned the stage of the career you are in.
If you are just beginning I think you are doing OK. If you plan to go
to B-school and/or a quantitative finance course .. MS, Ph.D etc, you
current experience would be valuable and perhaps quite useful to
leverage while finding a job therafter. But if you are in a later part
of your career (as I am) then working at building a career in domain
would be a better choice. Trading may be a long shot! And yeah, I
think the domain is quite exciting!

Again, its just based on my experience and thoughts ... so wish you
very good luck with your efforts. Let me know if I you have any
further questions.

Cheers!