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re: Tips for a Young Investor
Posted on 10/9/13 at 1:01 pm to tokenBoiler
Posted on 10/9/13 at 1:01 pm to tokenBoiler
quote:
If you set up a single-elimination tournament ladder for, say 10,000 people, and you ran the tournament with the competition being flipping coins, one person is guaranteed to win. 5 people are guaranteed to finish in the top 5. 10 people are guaranteed to finish in the top 10. Are those people expert coin-flippers? They'd be famous, if people cared about your tournament.
I've heard of a hell of a lot of people graduating in Psychology and not being successful hedge fund managers, too.
I didn't know, I was just wondering how useful that degree can be in the investing world.
Posted on 10/9/13 at 1:09 pm to Turkey_Creek_Tiger
quote:
I didn't know, I was just wondering how useful that degree can be in the investing world.
I don't really know either; just pointing out that having (possibly temporary) success as a stock-picker doesn't necessarily imply great intelligence or great financial wisdom or anything else.
I'd guess that the actual major is pretty irrelevant, what counts would be learning how to think critically and incorporate new data into an existing model; possibly being willing and competent to modify the model to accommodate the new data. It all SOUNDS psychological, but I've got no idea if a Psych major learns how to do things like that any better than anybody else in College.
Posted on 10/9/13 at 1:59 pm to Turkey_Creek_Tiger
quote:
I didn't know, I was just wondering how useful that degree can be in the investing world.
Not really that useful. You can learn behavioral finance through self-education and basic common sense/logic. Unless it's from a top school, it's not likely to look too great to prospective investors either.
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