wait a minute. you have a guaranteed moneymaker, and you want to go to <i>business school</i>? I'd stay home and trade.
I want to start a Hedge Fund and get loaded is what I want. I don't want to settle for trading my own money everyday. B-school is important, especially if it is Harvard or Stanford. Wouldn't it be nice if you had a good trading rep, and went to Harvard? Instead of trading a few hundred thousand or a few million, you'd be trading 100s of Millions of Dollars. I don't know about you guys, but I'd take the latter any day. 1 and 20 on a few hundred million is nicer than trading my own money.
that ivy league stuff is all crap. why posture? why kow-tow to an establishment of people who, as 'Gordon Gekko' so aptly put it, 'hate people, but love animals?' If you know how to do it, do it. The rewards will be yours and sweeter still.
Believe me, I'm not a pretentious kind of guy, and I think that a lot of the Harvard MBA attitude will be lost to diversification. I still think that the big- time MBA matters. It's not that you need one to be a better individual, it just makes making money so much easier.
the markets are the Great Equalizer. This is the place where you can tell Colby Harvardgrad to get a life. Your account doesn't care if you have an MBA. OK. You wanna go work for <a href=>http://home.netcom.com/~ntaleb/newyorker.pdf this guy</a> , I suppose you have to jump through the hoops. But you could be him if your trading is so sharp. Build your capital. Stick the paper in front of HIM, and he'll back you, cuz he'll need you.
Thanks for posting that article. I've already read it though. A buddy of mine told me to read it on the day that he knew of my new strategy. You see, the reason why I'm doing so well is because when I heard about Taleb's strategy, I realised that mine was the exact same thing. That is exactly what I do. I only long options and I try to remain as market neutral as possible. I obviously use TA to figure out what is about to move, and I aim for the big volatility moves to hedge with. That is the simple observation that I also noticed. The strategy is so appealing to me because it makes sense out of all of the BS that I have learned from financial theories. So it was when I heard of Taleb's strategy that I knew that I was probably doing the right thing. Also, I still think that it is worth it to go to HBS, but I want you to know that I greatly appreciate your advice. I'll eventually try to speak with a man like Taleb, but if I do well enough, I guess I won't have to.
People with MBA's from Harvard don't go into trading. They go into areas such as private equity where a third of all people are graduates of this school. If you were to get a job with a hedge fund after business school graduation, it would be as an analyst of some sort. You would not be trading but generating ideas that your traders act on. These are the guys who make the big bucks. Top tier business schools are focused on enhancing peoples management skills not sitting around watching the market. It's still not a bad idea to go to one of these schools as you have yourself a put. Your best best is to get an analyst position in Investment Banking then make your move after two years to a hedge fund, an overseas position or HBS. It will also allow you to explore the finance industry a little more before you commit one way or another.
Taleb initiates positions that can take "forever" to realize, therefore [1] is incosistent with [3]. 13th century and 17th century mathematics? Well, let's see, Fibonnacci was circa 1175-1250, and Isaac Newton was a 17th century Mathematician. Hmmm, perhaps you have come up with your own way of calculating Implied Volatility, and are using Gann or Fibonnaci to do T/A - these are hardly groundbreaking, but the test is in the pudding... nitro
Nitro, you've taken this way too far. And, no, it isn't the exact same strategy. It is basically the same thing though. I guess I read over the part where his strategies may take forever to realize. And no, I don't really need to worry too much about IVs if I'm flipping positions really quickly. Although, it is still nice to know. Obviously, using technical analysis, I'm able to figure out when it is most optimal to get in and out of positions. I was implying that 13th C and 17th mathematics have anything to do with options pricing. Dude, you just took it too far. Give me a break.
This would be my advice. As far as school goes...if you want to be a true pimp in the financial arena, only go to a top 5 program. With your GPA and face value ability, you should definitely take a GMAT to see where you fall. If you can get > 680, you are set. The other consideration for b-school is flexibilty. Hands down the best program out there is the EMBA from Wharton. It is on both East & West coasts. You only have to show up once every two weeks for a few days. Everyone and their brother can get an MBA. To truly stand out with a competitive edge, its simply a matter of Harvard, Wharton, or Sloan @ MIT. Now as far as the logistics of your options & stuff. I would definitely consider going pro, getting your 7 and other goodies. If you have proprietary experience as a captial partner for a major player and can consistently make gains, any business school positioned in the capital marketplace direction can and will appreciate this fact. However, this is not a path to take forever. In other words if you can make $5k a week, why go to b-school?? The answer is simply -- achievement. Plus as other posts have pointed out, there are so many dynamic and unique roads to take in the capital marketplace. Obviously a hardcore trader who has an estabilshed book and pulls in 7 figures a year, does not necessarily have to care or need an MBA. It is all relative to the individiual and what you want to do in life. I have more to add on actual option stuff in a second..................................