Stagnant Industries
I've been thinking about what industries are most outdated/out of touch with current times and the automotive industry comes to mind, but Tesla seems to be pioneering their way through the sludge. We've seen GM, Volvo, and Toyota all take up reins and begin modernizing their organizations and products. This got me thinking about other industries that are ready for a change.
I know fin-tech is just getting started with things like peer-to-peer lending and more modern mortgages. Personal finance has seen an explosion of new apps like Personal Capital, Acorn... etc.
I think the healthcare industry will be the next major segment to modernize their operations and practices. I don't think we've seen the full effect of technology and decentralization take effect on the healthcare market. One obstacle is the heavy oversight and regulation taking place.
I'm sure there are many micro-segments that are ripe for improvement. Anything else come to mind?
The banking industry is dead (Originally Posted: 07/16/2013)
Why are there still so many smart people who want to work on the Wallstreet?
Most of young people are smart, but have no vision.
Stop going there. This industry is dead and destroyed.
Go to commoditie (mining, agriculture) sector or medical sector.
lol commodities are dead as well, medical is in for some bumps with sky rocketing costs.
Silicon Valley or Buy-Side
Tell that to Llyod who just doubled Goldman Sach's earnings today.
Commodities? Have you looked at gold lately? Mining is a mess. You're telling kids to go into commodities when arguably the greatest bull market in commodities is finally coming to a close?
Medicine? Not all of us want to study for nearly 12 years only to enter a field burdened by exhaustive debt to see that there's massive legislation changing the way the business works.
Seriously, what exactly are you hoping to accomplish with this post? Trolling is good and all but this wasn't even well thought out.
The only kudos I can give you is to your username (awesome group).
Banking is contracting and the spoils are going to the best firms but this is what you expect from a Pareto distribution. I think the industry will show growth once the regulation concerns go away... probably post-Obama and will depend on Congress's makeup.
Commodities were in a 20-year bull market and arguably have more downside in terms of activity.
I've personally been fascinated with risk management and this is a growing field. And not just market or credit risk but the impact of weather, politics, etc.
Unfortunately thanks to Obama healthcare is growing... but who wants to pursue a career in healthcare admin?
Too many idiots here.
When I say that the medical sector is growing, it doesn´t mean that being a doctor is the only way to go.
You could make more money as medical engineer than investment banker who work much longer.
Medical engineers develop softwares and products that doctors cannot handle without help.
If you are not smart enough to study medical engineering then you could be a consultant in this sector as well.
An other issue that most people don´t understand here:
It is not always about gold when talking about commodities.
I could argue with oil, mining, gas etc. as well.
Doubling the earning doesn´t impress me anymore.
Too many real monkeys here.
Legislation affects everything. Whose to say that when modifications to how Medicare reimburses the costs for medical devices are made that these companies' profits won't drop - and that medical engineers won't be laid off?
The end of the bull market in commodities applies to the vast majority of them, just not gold. There is oversupply in commodities everywhere from iron to copper, and it will take a while for this to play out. When you reference mining, you don't have to look farther than the depressed values for companies like BHP Bilton and Vale to see that the prospects aren't good.
Agribusiness has good prospects. I'll give you that. As the population grows people need more food. But the industry is becoming increasingly mechanized - less and less labor is needed.
As a previous poster mentioned, as regulation comes down in the banking sector, it will come back. And the buy side will always do well as people are always wanting to find ways to grow their assets.
The only industry I would advise someone to go into wholeheartedly at this point is technology - specifically software development.The only real promising areas of healthcare are in automating it and making it more effecient via healthcare IT, which relates to technology as it is.
No, on average, you can't.
I think people get far too caught up regarding what field/profession/job. You can make good money many different ways. The best chance of doing so is to be really good at whatever it is you do and to sell yourself/your work well. You may not become wealthy, but you'll live pretty well.
i actually agree with the medical bit (excluding becoming a doctor). healthcare tech is growing fast (maybe too fast) with electronic billing software, electronic medical records, etc. and all these companies are very new which is why healthcare consulting also seems like a solid move.
I assume this is a troll post. Do I even need to respond to a claim like this, to someone who's seriously uneducated? Sure, there may be sectors on the rise, but the banking industry, as a whole, is definitely not dead, nor anywhere near declining (contextually, as a whole)
Nothing to do with demographics...
The only banking division which is booming is the risk management via operation research.
Prop trading is dead. M&A is solid, but nobody wanna waste his intelligence there. The sale side? I would rather work at the McDonald´s than the sale side.
Just wait unitl the Basel III comes.
.
With your grammar it's safe to assume you sell arms to North Korea or ship stolen Range Rovers over to Dubai, no?
I don't know who annoys me more: the OP for posting this stupid, overtly antagonistic posting on a Wall Street professionals forum or all the people who have taken the time to respond to it and, by extension, give him exactly what he wants.
Yea Risk Management is growing but its not the best job in the world. and those of you that say its interestng...think again. might as well go to trading or buy-side. Its cool to speculate and look at risk management from a high level, but going into the nitty-gritty, not that great. Disclosure: worked in risk management before, most stable job in the world though.
Why don't we let this guy explain exactly how and why those sectors he described are better than getting into finance? I'm very curious to see what his logic is.
Given that he can't formulate a proper English sentence, he's either onto something really big, or (as is likely the case) on to something really minor but that he thinks is big.
I tell you that this earning has nothing to do with smart investment strategies.
Goldman Sachs should thank the central bank, because the central bank has given away money. That´s the reason, why most investment banks could make more profits than any other sectors.
You don´t seem to know anything about economics. How do you want to work on the Wall Street if you are just stupid as hell?
Miracle that Massive Attack hasn't received any monkey sh!t yet.
Whatever GS earnings were the stock still finished down something like 1.5% yst. That price action is more indicative of investor perceptions and the markets are a discounting mechanism. BAC on the other hand is doing great today.
Not until regulation concerns become mitigated will the banking industry have the conditions for growth. Additionally, banks such as BAC, JPM, C would benefit (not the top execs but the managing directors of each division) from being broken up and sold off as individual units... that way each business can stick to its core competency and not be affected by rogue groups. It is a miracle how Jamie Dimon has done pretty well managing so many different businesses. "Building synergies" is bullshit and these behemoths can't operate efficiently as a whole, and hence the banking system is currently a laggard in this country. The same has been happening in Japan for two decades.
This thread is retarded
This isn't even a good trolling attempt.
Related: learn grammar, punctuation, and spelling.
I am not British or American or whatever.
Go to Japan. You will not be able to speak English there.
It is cool to speculate as a trader, but it is also risky.
You have no good exit option and you could lose your job tomorrow.
I don´t know where this brave heart comes from if someone says that the speculation is a good option.
You are really interested in investment banks? No.. You are more interestesd in earning money.
You could close this thread if you want to, but let me tell you just one thing:
Make your career. Step by step.
Don´t expect to be damn rich like David Tepper tomorrow.
Most folks are just dreamers withouth realistic thoughts.
No, I would speak Japanese, or at least not have the audacity to lecture Japanese people (incorrectly I might add) without comprehending the language.
Why do young people want to work on Wall Street? Money and exit opportunities.
Tons of young people are smart and have vision. Not everyone is an entrepreneur, but plenty are.
The industry is hardly dead or destroyed. No one is going to listen to you when you tell them to stop.
Commodities aren't killing "Wall Street" in any sense of the word.
Some investment banks will get hard times.
I Give Deutsche Bank 2 years and then this bank will be f***ed up.
Anyway, congratulation, that you found out my grammer mistakes.
But as long as people understand what I mean with my broken English, it will be okay.
I am nowhere in US.
Come to Japan. I will invite you to drink Japanese Whsikeys.
Profits are bad! Wall Street is evil! Corporations suck!
--Sent from my iPad
Hah, good stuff. I'm sure they're brutal
Dying Industry: Small Commercial Banks (Originally Posted: 04/22/2012)
A bad image is nothing new for Wall Street. While that image has become notably worse in recent years, we can all agree from the next wave of monkeys frequenting this sight every day that there are still plenty of willful applicants. Ezra Klien recently wrote about a new report from IBIS documenting the top 10 dying, and top 10 growing US industries. Coming in at lucky number 5 under dying industries is “money market and other banking.”
My first reaction was to question that labeling, but after further investigation on what that meant I found that hopeful Ibankers needn’t worry. This "other banking" encompasses smaller commercial banks.
A struggling commercial banking sector could still pose a problem for the markets. How do you think the poor performance of the commercial banking sector could affect – or has affected - the markets?
Wait, where are the top 10 growing?
^^
Generic pharmaceutical manufacturing Solar panel manufacturing For-profit universities Pilates and yoga studios Self-tanning products 3D printer manufacturing Social network game development Hot sauce production Green and sustainable building production Online eyeglasses and contact lens sales
http://www.smartplanet.com/blog/smart-takes/top-10-fastest-growing-indu…
total joke
Haha, I knew my business plan to start a for-profit college with a hot sauce factory in the back had potential. Forbes, here I come.
hot sauce production? wot da fawk?
Christ, that list makes me consider eating a bullet.
+1
oh wait. holy fucking shit you weren't joking. i thought that list was a joke until i clicked on the link. .............tanning and hot sauce....wow
That's the dumbest list I've ever seen. I love their rationale "well with the growing guido and mexican populations in this country, clearly the self-tanning product and hot sauce markets will inevitably boom"
Exactly - most of the list and reasoning is just horseshit, and actually kind of funny. But the discussion of commercial banks seems to get at some bigger stuff - like will the market of commercial banks become far more like an oligopoly?
I think so. Like I said in the first post, commercial banks will always be needed, but the market landscape looks pretty unsavory for smaller banks
The article actually says "Banks, too, make an appearance. Many money-market funds and other unregulated financial firms got wiped out in the financial crisis, and IBIS World expects non-commercial banking to keep declining in revenue in the near future — at an average rate of 0.9 percent over the next five years." It explicitly states non-commercial banking
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