| Posted: 22 Jan 2007 15:41 | |
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Hi, I'm a high school student who is deciding what university degree to go for. Which would be the best undergraduate program i should get?  Oviously i'm looking for a degree that would help me become a better investor with a value oriented approach. I am considering accountancy, because i think they are best suited to analyze a bussiness thoroughly, but then, why Buffett studied economics? Maybe because it was the only program in which Graham was teaching? Or maybe because the economics field is actually more helpful than accountancy for the bussiness analyst? Anyway, what i am looking for is for some advice on which university degree (undergraduate program) i should choose, (Being Buffett my role model, having therefore a value investing approach)? Thanks (and sorry for my english, i'm foreigner).
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| Posted: 22 Jan 2007 18:33 | |
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What country are you from? Your English is great!
Also... how much longer until you graduate from high school? Welcome to the forum!
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| Posted: 22 Jan 2007 20:52 | |
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Hey, thanks for the greeting. My name is Guillermo (William in Spanish) and im from Argentina. I'm on summer vacation right now, but i'm starting my last highschool year (12th grade) on march, so i gotta make my mind about what university degree i should do. Let me know if you have any ideas about this, thanks
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| Posted: 06 Feb 2007 16:45 | |
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Posts: 5 Join Date: Feb 2007 |
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If you want to study value investing, I think the best university is online, going through everything Buffett has ever written. That was my MBA.
College finance classes are 50 years out of date, I majored in finance and they are still teaching efficient market hypothesis. I live in California, so it's a little ironic that I learned about EMH just as there was a huge real estate bubble going on. Accounting is probably your best bet. But it's important to understand that what you'll learn in college about business is sometimes the exact opposite of what Buffett, Graham, Munger believe.
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| Posted: 06 Feb 2007 22:26 | |
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Posts: 5 Join Date: Feb 2007 |
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I was an investment management management major at a small college on the east coast. The best part of the whole undergraduate experience was the fact that we had this investment club, and we got to experiment in the market with real money. The stuff you learn in the books is one thing, it's quite another when you're making real life investment decisions with actual money!
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| Posted: 14 Feb 2007 18:55 | |
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Posts: 4 Join Date: Feb 2007 |
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Basic finance and accounting are important to learn. Though majoring in either is unnecessary in my opinion. The concepts of TVM (time-value-money) are very important to understand and any finance 101 class will teach you these. Also any basic financial accounting class will give you the fundamentals needed to interpret financial reports. Besides those basics, pyschology is probably more important than anything. Though I'm referring more to having a strong stomach than what they will teach you in college.
Good luck!!!!!!!!
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| Posted: 07 Mar 2007 00:38 | |
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Posts: 16 Join Date: Feb 2007 |
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Is the obtainment of a qualification all that necessary?
Apart from the debate between book smarts and street smarts, which extends all the way to antiquity and which even "The Donald" has tried to answer, the need for a formal qualification directly relating to value investing is in my view unnecessary. I have degrees in both engineering and business. We know that value investing proponents, whilst sitting for finance / investment courses at college level have to stomach and take at face value the inhumane exposure to efficient market, CAPM, and...portfolio theory! I did glean a lot on the world of finance and it was interesting, but the majority of theory and practice as applied to value investing is nonetheless contained quite succinctly in a handful of seminal works of literature, both available and intellectually accessible to the general public. The most noteworthy fact is that the majority of these works is well over 30 years old. In fact some are close to 70 years old and yet have never compelled college deans to design value investing courses en mass. Theory of investment value - John Burr Williams Common stock, uncommon profits - Philip Fisher Security Analysis - do I even have to mention his name! The Value Investor - hmmm Competitive Advantage - Michael Porter Competitive Strategy - Michael Porter Aggressive Conservative Investor - Marty Whitman The Warren Buffett Way - Robert Hagstrom Buffett has alluded to this philosophy in the annual report released last week. Now I believe that he possesses a Masters in Business, and yet he is compelled to highlight that Walter Schloss performed superbly without formal tuition. Even Charlie Munger, a "qualified" lawyer (yes they exist :-) has proved that without an MBA or degree in finance, one can still attain value investor superstardom. It simply takes commitment, literacy and an open mind
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