Provide me with advice; I know you have nothing better to do.
Hey all,
I could use a little direction and I'm hoping some of you have been faced with the same or somewhat the same dilemma.
Ok so I am a sophomore at a local community college finishing up my generals with the plans of transferring to a great university and business school for my state. I am second guessing my plans...
I know with my grades and background I doubt I will break into anything noteworthy within the banking sector. I have a true passion for finance though, especially investing. I have been value investing for years and have become quite good at it. I can also network like no other.
So basically my question lies within which path I should pursue. I was thinking maybe getting some bs trade school degree in something I sorta like and build enough money to start a Asset Management firm (I have quite a few friends/family members I would be able to gather funds from also.) I could also get a 2 year accounting degree or something of the like and invest on the side.
Or I could keep pursuing a university 4-year finance degree and hopefully secure a banking job. (unlikely) after my 4 year I could try and nail the GMAT and get my MBA.
Sorry for the longevity of my post. I'm basically looking for ideas. My main goal in my professional career is to start some kind of fund. Any help is appreciated.
Dude, don't sell yourself short. If you have the goal of starting your own fund one day, do what's necessary and make it happen.
That said, I think it would be best to pursue a 4 year degree and try to break into banking. What kind of schools would you be transferring into?
Thanks for replying and the uplifting comment.
I also have the option and this is something I've been seriously thinking about... there is a 4 year business degree offered at my community college through a university in the area. Obviously this school is no top-tier university by any degree but it would be a cheap 4 year degree to fall back on if needed.
But as far as transferring into the good business school I was referring to, I live in minnesota so I would be attending the UofM carlson.
Let's say that you do transfer to UofM Carlson. If you really enjoy investment management, you can try to break into a large buy-side firm from u-grad like Fidelity, Putnam, Vanguard, etc.
why do you want to start a fund? if you love the markets, go for it. if you are doing it for the quick buck, that's another thing. either way, however, you will most likely lose all of your money.
Thanks for the replies guys.
Connor- yeah your right, Carlson would be the best bet to break into any well-known firm.
Melvvvar, no I actually love the markets. When I first started trading, I wanted the quick buck. Lost a LOT of money (compared to what I started with) got into forex, leveraged more money made 80% of my capital in one day trading silver when it plummeted a year or so ago. Proceeded to lose 99% of my capital in the next week after. This was not with a whole bunch of money seeing as how I'm a college student, but I learn my lesson none-the-less.
Now after reading a lot of material on Ben Graham and some others, I'm more value oriented.
marky, look into the quant crash of 2007. even the best and the brightest in this industry get their asses handed to them on a regular basis. a lot of the "legendary" traders actually have huge negative lifetime returns.
your chances of getting a rich by learning a trade and starting a small business is WAY better than in trading.
Small business owners do what they do because they couldn't get a job on the street, where the money is SO much easier. Why put yourself in their position if you don't have to? Small businesses do not deliver great returns, they deliver lower but consistent/steady returns. And even then you're constantly on the brink of losing everything. What if you own a small retail business and the grocery store that anchors your shopping center goes bust and foot traffic disappears on your sidewalk?
"Legendary" trader with huge negative lifetime returns = mansions in connecticut and a G5.
small business owner = house in the suburbs in st louis missouri
the likes of meriwether et al are better at marketing their beta replication and selling it as alpha, collecting the fees, and retiring gloriously. big difference between that and what OP is pipedreaming about.
"I can also network like no other."
I CHALLENGE YOU.
nice subject line
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