Now before this sparks a swathe of pro-MBA email the point I am trying to get across is the game has changed not just for Wall Street and the old boy network who's ignorance created this mess, but for the education establishments which fed into this network. Will the value/cost of these degrees, or a career in finance be reassessed?
Good students go to "poor" schools and rich parents send poor students to "good" schools. Maybe greater emphasis will be placed on individual skills and not the colour of the degree? Whatever happens we now have a whole new ball game with a very large void to fill.
I suspect we will see the good students who went to the good schools start 'boutique' investment firms; managing relatively modest sums with just a handful of clients, all done with minimal fanfare. It won't be long before new trees fill the space vacated by the burnt down forest. It will be these people and their firms who will be the ones to watch and follow for the future.
So with that said now is a great time to get back to the basics; time to take responsibiliy for ones own money by doing you own research. At Zignals we are here to help; free stock alerts, free stock charts, free stock screeners; real time prices; chart annotating, saving and sharing through email. New services coming online soon. Just your email address is required to join. If there are areas you would like to see covered in this blog then drop me a line at declan-at-zignals.com.
Also, when did "billion" become the new "million"?
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts, and stock charts website