well put blast19
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$20K, trade it or go for a MS in Finance
- Thread starter hermit_trader
- Start date
Quote from blast19:
I was once in the same situation as you(2.5 years ago) and I traded and I've done really really well. I make $120k++ working for myself, but it's not what should be expected.
The thing is, with an education you can do a lot, with a $20k loss you can't do anything. As little as I think of proper education, I would say it's the wiser of the two options available if that's what you have given yourself as options.
Do yourself a favor though now while you can...take $5k of it and go traveling in some remote place(middle east, s. america, se asia) and you'll have gained something that most guys who went straight for the MBA or MSA degrees never did and your concepts about the world and yourself will be a lot more formed.
I did that for about 6 months after having made a good chunk of cash in the market and came back with a much better handle on things and everything since then has fallen into place in a way I'm quite sure it wouldn't have if I had done nothing but traded the whole time.
Good luck.
That's a great post, thanks for offering the proof of the pudding. While, as you said, your results are not the norm, they are certainly doable once you have all your pieces in place ... and the suggestion to actually see the world and develop a mindset which can think outside of the box is invaluable, because once he gets that MBA he's going to spend at least 80 hours a week putting it to work.
Whatever you do hermit_trader no regrets.
JJ
no offence but you're an idiot. maybe u should get a degree first n learn how to discount.
20k vs. Msc/mba is like comparing an ipo to a bond. the MBA is worth 100x more. in other words u should compare the relevant pay off in the long-run with the NPV of 20k (and god knows how that can turn out).
if it was me you'd have to offer me $1mil for me to drop it.
it's only 1-2 yrs, won't stop u from learning..
education first, no matter what. great traders all had education, just that some spent yrs on their own, others couple of years at uni..
20k vs. Msc/mba is like comparing an ipo to a bond. the MBA is worth 100x more. in other words u should compare the relevant pay off in the long-run with the NPV of 20k (and god knows how that can turn out).
if it was me you'd have to offer me $1mil for me to drop it.
it's only 1-2 yrs, won't stop u from learning..
education first, no matter what. great traders all had education, just that some spent yrs on their own, others couple of years at uni..
Quote from Batman28:
no offence but you're an idiot. maybe u should get a degree first n learn how to discount.
20k vs. Msc/mba is like comparing an ipo to a bond. the MBA is worth 100x more. in other words u should compare the relevant pay off in the long-run with the NPV of 20k (and god knows how that can turn out).
if it was me you'd have to offer me $1mil for me to drop it.
it's only 1-2 yrs, won't stop u from learning..
education first, no matter what. great traders all had education, just that some spent yrs on their own, others couple of years at uni..
No offense Bat's, but you are equating getting an MBA with and IPO and act as if they are both guaranteed money ... it's that thinking which is leading posters to say "take the MBA, take the MBA", but there is no guarantee that the MBA is going to work out any better than the trading career just like there is no guarantee that the IPO is going to deliver the goods any better than the "bond" .. we do not have nearly enough information to work with to make that decision from this side of the fence ... and for the record, there are plenty of out-of-work fad of the day degreed individuals at the top of every business cycle
Regards,
JJ
Quote from JimmyJam:
No offense Bat's, but you are equating getting an MBA with and IPO and act as if they are both guaranteed money ... it's that thinking which is leading posters to say "take the MBA, take the MBA", but there is no guarantee that the MBA is going to work out any better than the trading career just like there is no guarantee that the IPO is going to deliver the goods any better than the "bond" .. we do not have nearly enough information to work with to make that decision from this side of the fence ... and for the record, there are plenty of out-of-work fad of the day degreed individuals at the top of every business cycle
Regards,
JJ
good point and I totally agree.. but he's equating an MBA with 20k.. my point is if that is the choice, the MBA opportunity cost is greater.. ofcourse nothing is guaranteed in getting u anything..
generally I believe in education, whether at unversity, or your bedroom, from books or other people, from imagination or experiences..
ps. i originally ment the 20k-start-trading path is the IPO, the MBA is the bond..
tradethetrade
Vendor
You have to approach the market like it will be the only thing you will do in your life. If you are going to be thinking of that MBA everytime you lose money, you will start your MBA sooner than you think and with 20k less in your pocket.
BTW, 20k is not enough anyway unless 20k is your risk money.
BTW, 20k is not enough anyway unless 20k is your risk money.
The first problem is you can't get a "quality" MBA for anything like $20K anymore. The school I went to -- LBS -- now charges $40K/year before average personal expenses of another $30K.
So, all in you are out $140K before lost wages. That's the minimum cost to enter the game at a "decent" level.
I haven't looked at MFE or MS program costs recently but if you guessed half that for a quality program you'd probably be in the ballpark.
So, all in you are out $140K before lost wages. That's the minimum cost to enter the game at a "decent" level.
I haven't looked at MFE or MS program costs recently but if you guessed half that for a quality program you'd probably be in the ballpark.