$20K, trade it or go for a MS in Finance

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.
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The best advice so far!!!!!!!!!!:D :D
 
Quote from hermit_trader:

If you have $20K, would u use it to trade or you would go for a MBA/MS in Finance/Financial Engineering? Which one would let you learn more?
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I have one thing to say, "wisdom comes from failure"
 
I got a MS in other field. I wonder whether it is worthwhile to go for another MS/MBA in Finance.

I have been trading for a while but the result is medicore.

My dream is one day I can trade for a good living!

As in the author of the book High Probability Trading said, you need to assume your initial capital as the tutition fee i.e. you lose it in order to learn how to trade.
 
Quote from ssternlight:

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.
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what do you know? has it paid off?

that's a really good school..
 
Quote from hermit_trader:

I got a MS in other field. I wonder whether it is worthwhile to go for another MS/MBA in Finance.

I have been trading for a while but the result is medicore.

My dream is one day I can trade for a good living!

As in the author of the book High Probability Trading said, you need to assume your initial capital as the tutition fee i.e. you lose it in order to learn how to trade.
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One thing you need to consider that has been overlooked, and that is if you dont know someone on the inside who can get you thru the door at a good firm, you must stand inline with all these Chinese and indian educated MBA grads who will work for much less and in alot of cases have better grades,graduated at the top of their class.

Their is no guarantee you are going to get a good job with an MBA, none what so ever. You can say I HAVE AN MBA.
 
Quote from Batman28:

what do you know? has it paid off?

that's a really good school..
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Yes, it paid off. But I went back in '91 when the total tuition was less than $20K and every Tom, Dick, and Harry didn't have an MBA.

The salary bump for my first job more than paid for all the costs -- I worked in private equity. Many people got jobs where the second year's tuition was paid as a "starting" bonus. Of course, some people didn't get jobs at all. It happens even at the best schools. Imagine $140K+ of loans sitting on your desk and no job.

Right before Christmas I had an hour long call from someone interested in doing the MBA at LBS. After looking up the tuition and thinking about the opportunity costs I have to admit my feelings were mixed about going now. Basically, I subscribe to the school of thought that talent will rise to the top without respect to education. For example, my sister didn't finish high school and her net worth is 7 figures -- not counting real estate. :) She hires professional resources for her business as she needs them.

What an MBA from a quality school does is provide you entree to the fast track. It opens doors and provides a ready made network of people who will be willing to help you out. What you make of it from there is up to you.

It won't make you a better trader. It won't make you a more successful in business per se -- although it can help you avoid many mistakes. It will certainly help you structure problems and be more rigorous about potential outcomes.

Hope that helps.

Sam
 
Ah another week, another "grad school vs trading" thread. 5 pages of replies, not too shabby. The past four threads stopped after page 3 or so.

One would think these threads might follow a more timely seasonality, as it's a bit late in the game to consider a program starting Fall-07. Indecisiveness and procrastination usually find themselves together though..
 
20k id prob trade....even if you lost all the money at least you learned 20k in lessons that will help you later in life....i liked the one dude comment of "not having to kiss anyones ass" - my single goal in life
 
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