No MBA!

A recent conversation I had on Facebook:

“I’ve actually been “following” you for a while…on your email list and websites.”

That’s kind of how it goes…see if the crazy trend following guy is actually useful…then maybe stick around!

“I was just talking with a hedge fund guy who recommended you.”

That’s nice. Always good to hear.

“I don’t want to take up your time, I know you’re busy and you aren’t in the free advice business…but I’m looking to either go to business school or trading of some kind. I don’t have a lot of capital right now. What do you suggest a young 26 yr old guy like me does? It’s brutal out there.”

My books, if you have not seen, are a good start. Lot’s of stuff there very relevant to your situation. Business school? I started an MBA at 25. Would never do again today. Waste of time IMHO.

“I know…I read that comment on your twitter…but starting a business or getting into trading with little capital isn’t so easy.”

But business school just delays the inevitable struggle. If you really want to do it, you will do it. If you don’t want to do it, you won’t (or you will delay). Life is easy. We make it hard! That’s all free advice for night!

“At the very least maybe getting a business degree would secure a job at a investment firm and lead to eventually starting your own investment firm or business. No easy choices. But thanks Mike. I appreciate it! I will keep following you.”

I would argue that your logic is right for some people, but mostly wrong for most people.

“Take care. I’ll contact you again when I’m rich. LOL”

Hey, you never know, insights here might end help you get to the rich thing.

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You might like my 2017 epic release: Trend Following: How to Make a Fortune in Bull, Bear and Black Swan Markets (Fifth Edition). Revised and extended with twice as much content.

2 thoughts on “No MBA!

  1. I was looking into MBA school recently so I can feel for the guy. I met a doctor a few months ago that manages a hedge fund with around a billion of capital. He advised me that he views MBAs a dime a dozen.

  2. A MBA does not ‘secure’ a job at an investment firm at all. Likewise a PhD doesn’t secure you a job in academia, or law school will secure you a job as a lawyer. Or secure any job at all.

    Too many people cling to these completely outdated, antiquated ideas. They think they take some education, and then can start to work in that profession. Even worse: They submit to the social pressure to work in that profession for the rest of their lives, and in nothing else. (Typical Parent-Talk: “But why do you want to leave academia? Why did you do the PhD after all?”)

    My advice for the young guy: Get some hands-on, real-life experience in a real job. Don’t waste your time with any ivory-tower education. Network with people who are doing real things. Become aware of what YOU are and what YOU want, not what your parents or your professors want. And take care of your finances, don’t trust any mutual fund manager. When you don’t have the capital to live from trading now, trade anyway, with longer-term trend following.

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