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MFA is the New MBA?!

July 3, 2006 in Personal, Professional | No comments

So I read this article today by Harvard Business Review, MFA is the New MBA. No not Master of Finance, but Fine Arts! I know, I was like WTF too. To quote Robert Lutz, Chairman of GM N.A., from the article:

“It’s more right brain… I see us as being in the art business. Art, entertainment, and mobile sculpture, which, coincidentally, also happens to provide transportation.”

Not that Lutz has any credibility now considering how GM is doing, and the article is from 2004. But I kind of see where this is going: it’s all about creativity and people.

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Stock watch of the day

June 16, 2006 in Professional | No comments

Before the bell:

Oracle (ORCL): 4Q profits beat own forcast due to soaring database sales; stock already up 12% this year, will the trend continue?

Other news:

Bill Gates gave the longest 2-week notice ever: he is said to be stepping down in july 2008 from daily operations, but still remaining the Chairman title. Maybe he knows who’s going to be the new president?

GM: “We are doing shitty but we are NOT going to file bankruptcy!” losing $10 billion last year? Unbelievable.

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Want to be a financial analyst?

June 15, 2006 in Professional | No comments

I came across this site from the U.S. Department of Labor, Bureau of Labor Statistics. It is the Occupational Outlook Handbook for Financial Analysts and Personal Financial Advisors. Here’s the outline:

To quote:

“Demand for financial analysts in investment banking fluctuates because investment banking is sensitive to changes in the stock market. In addition, further consolidation in the finance industries may eliminate some financial analyst positions, dampening overall employment growth somewhat. Competition is expected to be keen for these highly lucrative
positions, with many more applicants than jobs.”

“Median annual earnings of financial analysts were $61,910 in May 2004. The middle 50 percent earned between $47,410 and $82,730. The lowest 10 percent earned less than $37,580, and the highest 10 percent earned more than $113,490.”

Another great government source is O*NET, free and VERY detailed information on all occupations (thanks Professor Horton!) I will be writing a series of articles regarding getting a job in the investment banking field.

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Stock watch of the day, *updated*

June 15, 2006 in Professional | No comments

Before the bell:

Bear Stearns (BSC): 2Q profit jumps 80%+
SanDisk (SNDK): upgraded ratings by UBS

Other news: unemployment claims for week ending 6-10-06 fell to a four-month low to 295,000. Unemployment rate fell to 4.6% in May, lowest since July 2001

*Update* Market closed, BSC up $7.36, SNDK up $2.95, average of 5.83% DAILY return if only the above 2 are purchased, not bad huh?

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Goldman Sachs 2nd Quarter Earnings, *update*

June 13, 2006 in Professional | No comments

Goldman Sachs just released 2nd quarter’s earnings minutes ago, more than doubling last year’s numbers to $2.31 billion in net income. It’s Fix Income, Currency & Commodities (FICC) contributed the most, totaling $4.32 billion in revenue. Earnings are led by increased trading activities and M&A deals, including the sale of a powerplant to GE. Goldman still holds it’s status as the world’s largest securities firm by market value, absolutely amazing for a firm that’s relatively small in physical size. As it’s corporate principles state, Goldman strives to be a firm that is large enough to take on high-profile deals but small enough to be nimble to the markets and intimate with clients. Props for my fellow i-bank competitor!

*Update* Market opened, slight price drop, no I do not recommend the stock based on Lehman Brother’s declining performance yesterday after the announcement of higher earnings.

*Update 2* 7:05 PM, Looks like my prediction was correct, GS dropped $5.75 today. now thinking back, the public’s negative outlook on the equity market probably had more to do with the price drop than Lehman’s performance yesterday.

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