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..
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..
agree agree agree.... the market isnt going anywhwere... get your edumacation and there are som many options open to you. if you want proof of what fire you are really playing with right now - go hang out at your local swifttrade for a few days...
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.
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.