Why trade at all?
- Thread starter Maximus
- Start date
In 1999, if you had a MBA degree, and worked at an investment bank for few years, it was very easy to get $200,000 per year. But those days have passed. 2002 was one of the worst years for investment banking business.
I know one MBA, who does not have money to fix the muffler of his car. Another has become a monk. My younger brother is a MBA. He has been working VERY hard to keep his job.
My brother in law just graduated from Wharton. I was visting him when their classes started 2 school years ago. We went out on a pub crawl. At the time they (new students) were happy and thinking when they got out they would make 300. (I remember thinking they do not appeciate what is happening in the capital markets).
when they got out some did not have jobs and the average starting salary was so low it blew me away. I do not want to state it here because I may not remember the exact amount. But, I said to myself, self they must be pretty dissappointed in the short run. Of course in the long run I would love to have that degree.
when they got out some did not have jobs and the average starting salary was so low it blew me away. I do not want to state it here because I may not remember the exact amount. But, I said to myself, self they must be pretty dissappointed in the short run. Of course in the long run I would love to have that degree.
I worked for a large company (Verizon) for 2.5 years before quitting to daytrade. It was a real eye opener. a lot of people had their nice cars and nice houses, tons of debt, and seemed to be pretty miserable at what they were doing. You should have seen the jealous looks on their faces when I told them I was quitting to daytrade. I am sure they were not jealous about the daytrading part, just the ability to leave the rat race.
