Monday, December 21, 2009

Some quotes in Finance

-The point is, ladies and gentleman, that greed -- for lack of a better word -- is good.Greed is right.Greed works.Greed clarifies, cuts through, and captures the essence of the evolutionary spirit.Greed, in all of its forms -- greed for life, for money, for love, knowledge -- has marked the upward surge of mankind.

- Human nature changes very slowly over time, if at all. Therefore, history is relevant because human beings will react to similar circumstances in similar ways. The trick, however, is to find the relevant piece of history on which to draw parallels. In this sense, forecasting is an art, not a science.

-Fortune has something of the nature of a woman. If she is too intensely wooed, she commonly goes the further away.


Funny Quotes

-We have seen this movie before - We are gonna be OK. (On the current economic crisis)

-Like it or not Finance is an area of credentials.

-MBA- Master of Bullshitting and Asslicking

-About a top tier program - "I got a job in I Banking not because of the program but at the cost of it." ( stress on networking)

-Having a Master in Financial Economics means nothing just that you have to be a Master in Job hunting.

-Risk Management is like eating glass - you will bleed through your rectum.

-Ask five economists and you'll get five different answers (six if one went to Harvard).

-It's recession when you friend loses his job , its depression when you lose your job.

-Anybody who had any talent, left India long back.

-In India their is a certainty of mediocrity , in US there is an uncertainity of excellence (in the first job).

- While Applying for MBA : "Doing a CFA will not differentiate you, not doing it will."

Wednesday, December 16, 2009

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Monday, December 14, 2009

Future Posts

I would like to post on the following topics in future as the time permits.

Actuary versus CFA
Top Finance Centric MBAs
Top Masters in Financial Engineering
Top Masters in Finance
Exhaustive List of Masters in Finance
Some Less Known but good Masters in Finance
Finance -Areas and Skill Sets
Top Target Firms in Finance
Why Finance is good for Engineers/Science Graduates

CFA versus MBA

The positives of doing an MBA

• An MBA is still exclusive: It works in its favour that the CFA has been devalued now that more and more people are taking it (including, allegedly, one child's violin teacher).

• The best i-banking and asset management jobs still go to graduates of the top 10 MBA schools.

• An MBA offers contacts and networking; a CFA offers all the networking opportunities of an after-work home study course.

• An MBA from a top 10 school is infinitely better than a CFA, but a CFA has the prestige of an MBA from a top 20 school.

• A good MBA is a bonus for career changers; a CFA is best for someone already in the industry.

• An MBA gives you a prestigious brand name to market yourself with.

The plus points of a CFA

• A CFA is more difficult than an MBA; it's also more relevant, and more comprehensive.

• A CFA teaches hard skills and tests you on them; by comparison, an MBA teaches soft skills.

• A CFA is an excellent route into asset management.

• A CFA is already mandatory for most senior equity analysts and is increasingly required for fixed income analysts.

• Each of the three CFA exams requires 250 hours of study in your own time. That shows true commitment.

• MBA courses offer an introduction to financial theory. The CFA provides the tools to develop creative solutions to complex financial problems – and a growing number of top MBA schools are including it in their curriculum.

Conclusion

It helps to have both – the MBA for strategy and networking and the CFA for financial analysis – but even then you won't be assured of career success (particularly if you plan to use the combination to get a leg-up out of the back office).