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One Tough Cookie

Traders Magazine, February 2001

Sanford Wexler

When Jennifer Setzenfand interviewed for her first job on the Street, she was asked by a senior trader, "Are you a tough cookie?" She immediately replied, "Well, yeah." The veteran trader fired back, "Good. You are hired."

Today, Setzenfand is an assistant vice president and one of eight traders on the equity and high-yield bond trading desk at Federated Investors in Pittsburgh, Penn. Federated Investors (NYSE:FII) is one of the larger mutual fund management firms in the country with some $130 billion in assets under management. Setzenfand's trading desk manages about $25 billion in assets, including 80 percent equities and 20 percent high-yield bonds. Equity trading comprises 60 percent listed and about 40 percent Nasdaq. Federated has 12 portfolio managers and shares traded daily are valued at about $150 million.

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