Top Finance MBA Program vs. CFA
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MBA will teach you better how to think in certain value investing classes as opposed to just jerking off to principles of economics and finance
tell me, does the CFA actually tell you how to value a company? :)
to stw yeah it does in level II as you will do fcff and fcfe valuations.
Short, you would have to admit that b-school also involves a lot of jerking off to principles of finance and economics. There is no substitute for real world investing experience and in some cases academia can be a hindrance.
If your question is if there are people with a CFA attending a top MBA program the answer is most definitely yes because the knowledge and skills are not the same. If you are asking if you should do it to get into buyside well that depends on what opportunities are available to you without a top MBA.
The actual academics at top b-schools is not demanding, so i'm not surprised that some of them failed cfa level II.
I'm not quite sure what you want to know. A CFA is good, but it does not help that much with everyday investing and research. And in terms of actually getting into the buyside, a top MBA is much more valuable. It's not even close.
There are folks who are CFA charterholders/candidates and also attend Wharton/Columbia, etc... Wharton has a part of their application form where you can enter if you have passed any of the CFA exams...
I've done level I even though it is not relevant to my immediate career (setting level II this year). I wanted to have the skills to understand valuation in other areas of finance and portfolio management (most large LPs have a CFA mindset to portfolio management / asset allocation). I'm also applying to top MBA/Mfin/MFinEcon programmes for other reasons. I'm targeting to be a charterholder by the time I complete an MBA/Masters.
Columbia's value investing programme looks cool as do other classes / seminars in other programmes.
I also have a few friends in fixed income and equity research who are Charterholders, but aren't considering full time MBAs as they are at the VP+ level now and don't want to disrupt their social lives either with moving to another city for school.
I think it will not according to the analysis ..
I know a bazillion hf pm's. Some have top tier MBAs. My good friend who ran $4B at Oppeheimer had a really really REALLY shitty MBA (I mean, I think it was a program with a 95% acceptance rate). I know a couple that don't have MBAs or CFA's. I know a few that have MBA's and CFA's and I know many that only have CFA's. I would say the more the better. Out of the one's that don't have an MBA -- I would say at least half have another graduate degree like a JD.
Bump
if you want to work in a long short hf... that's really the best way to go...
I am in a similar spot. I work in institutional sales, so all i do is read the work of others -- not create it. it's nice in that I have 9-7 type hours and I never work weekends (other then socializing with clients and traveling) while still pulling in over 100k in my mid 20's. Unless you are a world class salesmen, it's difficult to make millions a year doing this, and the stress of going out and actually making your paycheck each month is stressful -- and I think would suck in 10 years. Anyway, I need to improve my analysis skills. Going to get a masters I think.
CFA = way too much time investment
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