Hi all, I’m new to the forum here. It’s great to know there are other intelligent individuals around who believe that mathematical models of economics are quite crap…anyway I look forward to interacting with you all on the forum.
So here’s my problem. I’m stuck doing a PhD in hard science and really want to quit (why I did this and why I want to quit I don’t want to dive into here…) and eventually start up my own private investment research company geared towards commodities and under-the-radar type investment opportunities for future clients. I’d also like to run this outside of the USA…
Given my background with no degrees in any sort of econ/finance what should I do? Can I really start this up and get funds without any sort of paper attached to my name or should I go back to school and get a masters?
Any help is greatly appreciated. Thanks!
You should get hands-on experience with financial professionals and/or produce tangible results on a small scale that testify to your success and make you attractive to clients.
You can also get another degree if you want, but who would you rather entrust your money with: some kid with two master’s degrees or a business insider with years of experience and a proven track record of financial success?
Thanks…
You’re right on the last point…that’s something I should look into. I would much rather work than go to school again…
Licenses, more licenses, morer licenses.
I am not sure about the kind of the start-up - would it require human talent other than you? Would it require angel finance? If both of these are true, the choice of location where you can do that is pretty limited. Silicon Valley, maybe some Asian Tigers (but not all of them are English-speaking), potentially some Eastern Europe country.
The usual advice with start-ups is to choose a place where there is a lot of cheap talent, where you can live cheaply yourself (“parents’ basement”), and where some angels may finance you on rather liberal terms. Then you may experiment with ideas for quite a long time without angry VCs breathing down your back. Without experimentation you usually stand no chance against established competitors with more capital and steady revenue. As you are your own boss, formal education is usually not needed - but you need to grasp at least the basics of your business, obviously.
In my opinion, based on the goals you’ve stated here, I think school would be a total waste of time and money. Now, as mentioned above, you will more than likely have to waste time and money on classes to pass licensing exams so that you can actually do these things legally…but as for doing the business part, as any entrepreneur would tell you, you basically need two things: specialized knowledge, and and timely action. My first recommendation would be to find a mentor…as in someone who’s already done what you’re trying to do.
I’m going to sound like your mum here and tell you to finish your degree. The time passes before you know it, and it’s always a good back-up thing to have in case you need to return to selling your labour for a wage. Life is long enough that your business ventures can wait till after college, its also too short to miss out on opportunities to study when your younger.