You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Degree related to trading
- Thread starter Johan
- Start date
Quote from BSAM:
LOL Well said. Nice puns.
There's a lot of intellectualized bullshit in this thread.
As well as delusional bullshit denying the need for an educational background in finance prior to trading.
And, no, thirty minutes studying a wiki econ/finance link does not qualify as educational background.
Quote from bwolinsky:
This is quite stupid. Like saying you can trade anything, and don't need to know squat about markets or financial theory. Just makes trading that much easier for educated traders and investors.
The only real skill I've found to have a significant edge over others was programming. I know lots of financial professionals, but hardly any that have any idea how to program algorithms. Combine with STATA, SAS training and you're invincible, because you are prepared to analyze data intensively.
Logic and philosophy are whimsical approaches. Kind of like the way the intro statistics class at the University of Kentucky was completely touchy, feely. This will not help you understand your investments, nor will it give you any technical edge.
Financial Econ still rules, and I have not heard anyone with the degree speak up. Have you ever analyzed 6,000 observations with 33 variables? Probably not, and this will help you trade. It may not be a get rich quick path, but will always reinforce your rationale for the trades you make.
<b>Anybody can trade for themselves with any degree, but that doesn't mean you should.</b>
Yes, philosophy can be whimsical. It's a broad subject and that's why I told to emphasize logic and philosophy of science. Logic is not whimsical, in fact an alternative to whimsicality presupposes logic. Law is something you need to understand once you start a hedgefund.
Programming is a useful skill. The way it is applied in statistical analysis is not usefull though. If you want to impress me, answer the following question: how does statistical analysis succesfully surmount the problem of induction?
Quote from bwolinsky:
As well as delusional bullshit denying the need for an educational background in finance prior to trading.
And, no, thirty minutes studying a wiki econ/finance link does not qualify as educational background.
When you say "educational background in finance prior to trading"; are you saying one must obtain a degree in finance or some related subject before he can trade well?
As to your second sentence, since everyone here is over two years old, I think we can all agree with that much.
I have an MBA, which I completed in 1984. Almost all of my electives were in finance. Since I do not trade on the basis of fundamentals, my educational background has no direct bearing on what I am presently doing. And even if I were to trade fundamentally, I would generally be behind the information curve, and would be a tad presumptuous to presume that I could compete with well-funded, well-staffed research teams on that basis. I do, however, wish I had something of a programming background, which I do not. That is my regret.Quote from bwolinsky:
As well as delusional bullshit denying the need for an educational background in finance prior to trading.
And, no, thirty minutes studying a wiki econ/finance link does not qualify as educational background.
Quote from BSAM:
When you say "educational background in finance prior to trading"; are you saying one must obtain a degree in finance or some related subject before he can trade well?
Think about it this way. Say I was going to hire a trader for my RIA. I guarantee I wouldn't hire anybody else without one of these related degrees to finance, because I need them at the ready when they start. Too much training up front is required, and a lack of prerequisite knowledge isn't something I'd want to invest time or money into teaching somebody. Just as an RIA firm likely wouldn't hire an english major with no experience to be an investment advisor, they wouldn't pick anybody without a degree or some formal education in the field. The same should be true for traders. If you can't get hired in the field, why would you think you can compete in it without some formal knowledge of finance and economic theory or any evidence showing knowledgable professional accumen in the financial markets? No one else would trust you with their money, so why would you trust yourself with yours?
It doesn't add up for me, at least, and I find lots of people on this site don't have any background in the subject, but it doesn't stop them from trading.
Quote from Gabfly1:
I have an MBA, which I completed in 1984. Almost all of my electives were in finance. Since I do not trade on the basis of fundamentals, my educational background has no direct bearing on what I am presently doing. And even if I were to trade fundamentally, I would generally be behind the information curve, and would be a tad presumptuous to presume that I could compete with well-funded, well-staffed research teams on that basis. I do, however, wish I had something of a programming background, which I do not. That is my regret.
The educational background is applicable in assessing value, but, as you say, you don't trade on fundamentals, yet lack programming knowledge. For me, analyzing data was directly applicable to my trading activities. I'm miffed by what it is you base your decisions on. If not fundamental, and no programming skillset, what can you possibly be doing to trade profitably with? Buy and hold? I don't know. Having at least some classes is good.
Quote from bwolinsky:
Think about it this way. Say I was going to hire a trader for my RIA. I guarantee I wouldn't hire anybody else without one of these related degrees to finance, because I need them at the ready when they start. Too much training up front is required, and a lack of prerequisite knowledge isn't something I'd want to invest time or money into teaching somebody. Just as an RIA firm likely wouldn't hire an english major with no experience to be an investment advisor, they wouldn't pick anybody without a degree or some formal education in the field. The same should be true for traders. If you can't get hired in the field, why would you think you can compete in it without some formal knowledge of finance and economic theory or any evidence showing knowledgable professional accumen in the financial markets? No one else would trust you with their money, so why would you trust yourself with yours?
It doesn't add up for me, at least, and I find lots of people on this site don't have any background in the subject, but it doesn't stop them from trading.
Kobe Bryant doesn't have a degree.
Ted Nugent doesn't have a degree.
Don't try to think I am against a degree if one wants to trade or play basketball or play a guitar or anything else under the sun. But, stop trying to make these youngsters believe that you are somehow some superior trader because you studied finance. Nothing could be further from the truth. In fact, it could be the opposite. Neither you nor I know all traders. I bet they don't all have RIAs, CPAs, CFAs, etc., etc., etc.
BTW what is a C2 Vendor?