Anyone have any experience with these programs or have any advice on whether or not mastering in them can land me a job at an asset management firm/ hedge fund/ institution?? I am thinking of the trading concentration or the alternative investments concentration for a hedge fund job or maybe the investments one if I want to be a longer term/ swing player.....I just don't know how much I will learn from the trading concentration as I have been trading 3 years already, with periods of great success, along with some months where I haven't done much....Also, how much weight would an institution give to a degree from this place? its hardly a prestigious school, but the curriculum looks interesting and its alumni have been placed in prominent firms. If I got the trading concentration masters, is it going to land me a trading job at a good firm? Check out this link- it lists the different programs and thanks for the advice in advance. http://clfm.iit.edu/programs/fmcourses.html#Trading bigbeech
It seems like alot of universities are creating actual trading rooms to teach the art and science of trading. I know the University of Dayton and Ohio State have 'em. Not sure how much weight they carry.
Go to the school, look in detail at the curiculum: ask them to see sample materials. Have ahard talk with the dean. Ask for hard references from past students and evidence the credential was critical to employement they obtained as a result of completing the program. I've seen the curriculum. My take: If you are already educated and if you need it for marketing purposes it might be worthwhile. If you are already a successful trader just read the books that they use for the course and/or study on your own if you believe the program has value. I would not take the opportunity cost hit unless your employer pays for it and gives you paid time off from work to complete the coursework.....
I guest lectured at The Ohio State University for 3 separate classes, mainly in Investments side...there is no real accreditation since most of this isn't real life experience/money. Kind of like the 8th grade classes we used to see on the CNBC investment challenge. Chris
Do you think taking courses may not help much in trading? Is the market the best teacher? Few years ago, I also wanted to take some courses at a local university (they are quite expensive) but now I think I better use the money to trade. Even I lose them I already learn quite a lot.
At Univ. of Dayton they are managing real money and apparently have done quite welll as I heard they were recently given more money to manage. The VI²P capstone course is the student-managed portfolio seminar called Flyer Investments. As part of this course, top-ranking undergraduate students manage the $3 million portfolio within a team structure. The team currently manages two separate portfolios, the Flyer VI²P Fund, and the Flyer Growth Fund. The Flyer VI²P Fund, the larger of the two funds, is a one million dollar University endowment aimed at realizing steady returns over a long period of time. The Flyer Growth Fund is an established competition fund centered on increased growth with a higher tolerance for volatility. By managing these funds, students are provided the opportunity to invest across sectors and industries in an aggressive but well-diversified portfolio, utilizing in-depth analysis of equality and fixed-income securities. http://www.sba.udayton.edu/cfpm/investments.asp
This is almost philosophical. I read on here and from wherever and from many that books/seminars/teachers etc. don't mean squat. You should learn from the market. To me, this is akin to my trigonometry teacher giving me a test before I learned the material. I'm sure to fail immediately. Give me a few weeks to learn the basics and I might still fail, but I have a much better chance. Give me a few more weeks and I might be able to combine concepts..and so on and so on. BTW..to me..this is what is called "creating YOUR edge". Slowly adding tools to your foundation of strategy to finally become profitable. I think a lot of these people have learned the market a very specific way that worked for them and they found no need of anything beyond simple "get in the trench and dig" mentality. And my trading partner was this exact person. No one taught him anything. However, if you ask him (and I'm of the same opinion) about courses/books/etc., he will endorse this approach. I think the market might be the "hardest" teacher because it won't allow you to make any mistakes. The best "teacher" is really the person inside you. Studying basic and advanced concepts, learning about market reality, talking to other traders that really trade for a living or that have traded for a living, and even a few courses, etc. will not make you a trader, but will lessen your learning curve. Thirst for knowledge that you can apply to practical trading situations. To me, why trade the market with absolutely no knowledge whatsoever? If you have no idea of what to expect, what is the market going to teach you? That you suck and can't make money? Seems counterproductive. We all know we suck and can't make money consistently in the beginning. It's the why's that matter and grabbing a few gems from courses/seminars/classes, whatever will enlighten you. Perfect example is that I've been a consistent trader since October 8, 1998...my last and only margin call..it was my turnaround. However, I read a book in 2001 by Mark Douglas that not only hit me because it was so similar to the mistakes I made before and wasn't making now, but I also found other things to apply to my analysis of my trading. Had I read this book in 1997, you can bet I wouldn't have had a margin call in 1998. So do I pay 40 bucks for a book or suffer a margin call to learn my lesson? I'd rather pay the 40 bucks. I'm not going to say..take this class or do that seminar. This is a personal choice based on your specific life..but to totally dismiss foundational material, free or paid-for, simply because there is a notion that "the market is the best teacher" is probably setting you up for a longer learning curve than you would have otherwise. Everything has an exception and I'm sure those 5 people out there that make money right from the beginning will say knowledge sucks..but I tend to go with the higher probabilities that no everyone has this talent : ) Just don't expect classes or seminars or books to "make you a trader". They only give you pieces of a "puzzle of EDGE" and you have to put them together to create your own for successful continuous trading. Hope this helps. Chris