Manolis... Greek right? You didn't by any chance live in Gaithersburg Md did you? I knew someone names Manolis once Columbo, Yes Greek... I lived in NYC where I got my MS from NYU and then Cleveland where I worked for KEY and GE and got my MBA there too.
I too have contemplated returning for an MBA for awhile. I did my undergrad at an Ivy League school. Here is what I have found thus far, according to research, existing MBA's, and others. Most of the high level execs I know say that the true value in an MBA is the networking that takes place with other MBA's. Of course, this is contingent upon getting into a top tiewr school. Many I talked with said an MBA from anything other than, lets's say top 20 school, is a waste of time and money. That's not an opinion, that's just what I have been told by many. In addition, a traditional MBA program, as many of you have mentioned, is broad and won't necessarily help your career in trading. An executive MBA can be a bit more focused and would probably be much better for my situation, since there is still ample networking. I financial engineering degree, on the other hand, would help. With the current and expected growth in advanced intelligent trading system design, testing, and execution, I would say that taking pushing in a mathematical/computer scince degree would also help a lot, especially given our already deep knowledge of finance. Those two coupled together would make a VERY desirable individual. In addition, if trading on your own is the key, then clearly, the development of models and how to test and execute them seems to me where most focus should go. With that said, clearly an MBA seems like it would be fun to pursue and would definitely add something, even if only on an internal level.
MSF MSFE MSQCF. Applied Stats Applied Mathematics. anything along these lines will expand your understanding of modeling and CDS and such things or strategies that are math intensive in the markets like bonds, derivatives, etc. if you want more general knowledge and its for your own benefit then you would get a lot out of a MBA, but just not a whole lot of excellent high paying offers to help you afford family of you size,if you don't go top 20.
THanks all. As I don't think an MSF and even less so an MBA will alter the way I manage my book, I was initially wondering if it had enhanced any of your lives, personally.... and how. Great responses from both sides. I will look into it and debate it. I have two little girls a wife and a dog. I can think of many other things I can do with money before going out and getting more educated. Nevertheless, it will always be a step forward regardless of if its for the Trading or not. Thanks for the responses.
Glad to hear your perspectives. Since you already did it, what is your recommended course to qualifying to run a hedge fund in Canada. I am right now trading my own account as well as working. But I know there are a lot of regulatory and licensing requirements for the hedge fund business. For one, I do not think I can be apprenticed for three to five years to a financial services company just to obtain the licensing to start a hedgefund (I believe you need a CFA equivalent). I am willing to spend time to study and get the certifications. But how do I overcome the apprenticeship barrier?
The MSF worked for me because I was making a significant career change and wanted the detailed education and background. However, it is a case-specific situation and you need to evaluate your own needs, goals, time, financial situation and mindset to see what, if any degree, is right for you. It is a major commitment (MSF was 2 years non-stop on weekends and nights - other programs are similar for working professionals) so put much thought before stepping into it
With an engineering background, an MBA for me was a great way to understand business, finance, and investing. It was a means to an end for me. You've already achieved the knowledge and experience to be successful as a trader. Unless you're planning to start a company with employees and providing a service or product, or planning to return to the corporate world, an MBA may not be worth the cost or time.
I went back to school full time to get an MBA thinking that it would somehow add value to my career. Wrong! Getting an MBA was one of my worst decisions I've ever made (opportunity cost - loans, forgone paycheck). It is completely useless especially for those who have undergraduate degree in business. You can learn everything and anything on the job! I have recently left the corporate world, and I trade full time on my own. You do not need an MBA and if someone is trying to convince you that you need one, then that someone is full of himself. Better route is getting a degree in quantitative subjects like MS in math finance or statistics. These will definitely help you to stand out among thousands and thousands of clueless MBAs.