Quarter Life Crisis

 Most people know about the CFA credential. The CFA is a solid foundation for a career in  investment banking, but the CAIA is more relevant for people interested in alternative investments like private equity.  Here’s a taste of the content covered on the CAIA.

 Hrm, my financial engineering friends may find this image disturbing..

Online Series in Investment Banking

The Online Series in Investment Banking provides a broad and comprehensive curriculum that exposes students to the many facets of the investment banking industry. The concepts and analytical tools offered in this sequential program lay the critical groundwork for graduating college seniors who are planning on pursuing a career on Wall Street in corporate finance, equity analysis, or investment management. The program also prepares professionals in other fields to facilitate career changes and become established in the highly competitive and rewarding investment banking profession.

Offered in collaboration with Global Window Partners, the Online Series in Investment Banking consists of a series of online self-study courses that are presented in an intuitive, easy to navigate format allowing students to effectively absorb the material. Each of the six core courses consist of three to five self-study modules, with approximately 7.5-15 hours of learning time per course. The individual elective modules present approximately 2.5-3 hours of learning time per module.

Students successfully completing the Online Series in Investment Banking receive a testimonial certifying their completion. Successful completion is defined as successfully completing the performance assessment and Knowledge Review questions, Q&A, and Quiz.

Note: It is highly recommended that students complete Accounting X 1A and X 1B or its equivalent, as well as X 100 Business Economics or its equivalent, prior to enrolling in the program.

Download the PDFs here for:

• Online Series in Investment Banking

Required Courses (Six Courses):

Elective Modules (Choose Four):

Students may enroll in the online self-study courses anytime during the regular academic quarters. Upon enrolling, students are automatically directed to the courses and, after initial login and launch of module, are given access to each individual module for a total of 21 days or a maximum of seven (7) launches, whichever comes first.  Windows and high-speed Internet connection are required.

For more information, call (310) 206-1689 or email echerkez@uclaextension.edu.

To view a list of all online self-study courses available this quarter click here.

For frequently asked questions about our online self-study modules click here.
Counseling Fee/Application Fee: $ 75

Students successfully completing this program receive a testimonial certifying their completion. “Successful completion” is defined as earning the grade of C or higher in all credit bearing courses of the curriculum, as well as successful participation in any experimental non-credit courses, unless more rigorous requirements are stated above. The repeat of courses is permitted.

To establish an enrolled status in this program, click here.

Open Enrollment or Apply for Admission?: Open Enrollment
Federal Financial Aid Available: No
Extension Grant Availability: Yes
Estimated Duration (Full Time): 2.0 years
Internships Available: No
All courses available online: Yes
Program ID: TT305

Please note: counseling and application fees, if any, are not refundable, and may be renewable if completion is not attained by the estimated normal progress as determined by your advisor. Students may be subject to retroactive assessment of counseling fees if course work is already underway.

All programs at UCLA Extension require professional-level English language proficiency in listening and note-taking, reading comprehension and vocabulary, written expression, and oral presentation. If you would like to refine your English language proficiency prior to beginning one of our programs, we offer English as a Second Language programs and an array of classes in Communication and Learning skills.

UCLA Extension reserves the right to amend its training curricula by providing course substitutions that in the opinion of our staff are of equal or enhanced educational value. Within the temporal limits covered by counseling fees, students are entitled to complete programs with the curriculum substantively fixed as of the date they enroll.

UCLA is accredited by the Western Association of Schools and Colleges (WASC). The courses within this program have been developed and are administered in accordance with regulations of the Academic Senate of the University of California.

Interesting chart from careers-in-finance.com.

“Professionals Should Concentrate Their Bets, Amateurs Diversify”

Unfortunately, I’ve had to learn this the hard way. Here’s some more insights into Buffett’s strategies. And here.

And if you want to learn some more specifics into Buffett’s ways of investing, you should try this book written by Buffett’s mentor, Benjamin Graham. I’ve read it, it can get kind of slow (contains a lot of history about markets) and may be kind of dated, but it makes sense that a real investor have an appreciation of some history.

Margin of safety is the only way to invest!  Benjamin Graham and Buffett style..

“Viewed purely in terms of economics, Harvard is really a $40 billion tax-free hedge fund with a very large marketing and PR arm called Harvard University that has the job of raising the investment capital and protecting the fund’s preferential tax treatment.”

Ching ching isn’t the first thing that comes to mind when you think of working in academia. But check out Harvard’s ridiculously huge and profitable endowment.

When Americans start defaulting the credit crisis will only get worse.

Let’s say Mary Jane has a $10,000 credit card balance. She does not pay the principle every month; instead, she pays the 28% interest charge. Credit card companies log the 28% gain on the $10,000 outstanding, which looks quite impressive. However, when they realize they will never get the $10,000 principle back… a loss will be recorded. The $10,000 is an unsecured, or uncollateralized loan - the company can’t touch her car or any of her possessions. In contrast, a mortgage is collateralized - banks can seize your house.

“Google China Exec: Mobile-Search Volume May Exceed PCs In Three Years
 
Google (NSDQ: GOOG) still trails Baidu (NSDQ: BIDU) in online search in China but has high hopes for mobile growth, Google’s China president Lee Kai-Fu said in an interview with Bloomberg News this week. “In some quarters, our mobile traffic will double, whereas it will take perhaps a year to double on the PC side … Looking over a three-year horizon, I know that affordable 3G will happen. … We find that Chinese mobile users are very cost sensitive.”

He suggested that mobile-search volume may exceed that from computers in three years. Google already leads Baidu in the category thanks to an exclusive search deal with China Mobile Ltd. But, as a Baidu spokeswoman pointed out to Bloomberg, the Chinese company will provide search services for fixed-line carrier China Netcom Group Corp. Mobile search overall should take off after the Chinese government issues 3G licenses.

For a sense of scope, also via Bloomberg, according to China’s Ministry of Information Industry, at the end of February, China had 565.2 million mobile-phone users?more than the population of the U.S. and Japan combined.”

Seems to be good news for Goog’s sustained growth in web traffic. But how does Click thru rates for ads translate from PC to mobile?

SO you’re young, you’re in your 20’s, no kids, no responsibilities. Financial advisors may tell you to “take risks since you’re young.” However, inherently you are risk-averse. Want proof?

Let’s play a game –

Fair Coin. When it gets a “Head” the game is over.
The payoffs are as follows:
Head on the first flip = $2
Head on second = $4
Head on third = $8
Etc.

Expected value of Game = (1/2) * $2 + (1/4) * $4 + (1/8) * $8 + ….. = $1 + $1 + $1 + …… = INFINITY

Will you pay me your house + car + xbox360 (everything you got) to play this game, with an expected value of infinity?

I don’t think so.

In fact, the majority of investors are risk-averse. If all investors were risk-neutral, the returns of all investments would equal the risk-free rate.