Studying for the 7 - my experience so far
Hey guys, I’m new here, but read a lot of the posts today about
the amount of time it takes to study for a 7. I’m studying now
and I know I’ve made one mistake: Trying to do it too
quickly. I just finished my MBA at the University of Miami on May
20 (graduation) and tried to take the test in roughly 3 weeks of
studying. Couldnt be done. I canceled my appointment
because I didnt think I had as good of a chance of passing as I wanted
to. I was too burnt out from finals and school to focus
appropriately. Now I’m taking a few days off of studying to
clear my mind, have some sex with the girlfriend and get focused
again. I suppose some of you will say that I’m not as smart as
you or such, but I think that if someone with an MBA in finance, just
out of school is having a bit of trouble grasping all the
material, then its not an easy task. The material isnt that
hard, its just the quantity of it and, in my case, getting motivated
again.
Edit: just so you know, my window was opened the 8th and i wanted to take the test the 21st (Monday)
[quote=MikeTampa] Hey guys, I'm new here, but read a lot of the posts today about the amount of time it takes to study for a 7. I'm studying now and I know I've made one mistake: Trying to do it too quickly. I just finished my MBA at the University of Miami on May 20 (graduation) and tried to take the test in roughly 3 weeks of studying. Couldnt be done. I canceled my appointment because I didnt think I had as good of a chance of passing as I wanted to. I was too burnt out from finals and school to focus appropriately. Now I'm taking a few days off of studying to clear my mind, have some sex with the girlfriend and get focused again. I suppose some of you will say that I'm not as smart as you or such, but I think that if someone with an MBA in finance, just out of school is having a bit of trouble grasping all the material, then its not an easy task. The material isnt that hard, its just the quantity of it and, in my case, getting motivated again. [/quote]
No motivation = short career.
My sister has a MBA too. Much like you, she also has no job and no motivation.
You might have the persistency to acquire a degree but you are by no means "smart".
Actually, I have a job. Do you have an MBA? Did you finish
finals and then try to jump right into this? I’m just sharing my
expereince.
Mike Tampa - relax and enjoy yourself. Congrats on the MBA. The only
warnings I would issue, would be of elderly men, talking with clentched
teeth, muttering they were from “Turkeylick” while they haunched over
and scattered feathers out of a brown paper-bag.
[quote=Mojo]Mike Tampa - relax and enjoy yourself. Congrats on the MBA. The only
warnings I would issue, would be of elderly men, talking with clentched
teeth, muttering they were from “Turkeylick” while they haunched over
and scattered feathers out of a brown paper-bag.
[/quote]
cool…thanks…not sure what you’re talking about… but thanks.
[quote=MikeTampa]
[quote=Mojo]Mike Tampa - relax and enjoy yourself. Congrats on the MBA. The only
warnings I would issue, would be of elderly men, talking with clentched
teeth, muttering they were from “Turkeylick” while they haunched over
and scattered feathers out of a brown paper-bag.
[/quote]
cool…thanks…not sure what you’re talking about… but thanks.
[/quote]
Welcome to the club. Mojo appeared a week or so ago and hasn’t made sense yet.
He seems to go through a newspaper cutting words out–then toss them in
a hat and post them on this forum in the sequence in which they are
drawn from the hat.
[quote=MikeTampa]Actually, I have a job. Do you have an MBA? Did you finish finals and then try to jump right into this? I'm just sharing my expereince. [/quote]
Why do I need an MBA? I have my series 7.
[quote=Dewey Cheatham]
[quote=MikeTampa]Actually, I have a
job. Do you have an MBA? Did you finish finals and then try
to jump right into this? I’m just sharing my expereince.
[/quote]
Why do I need an MBA? I have my series 7.
[/quote]An MBA indicates you received an education, a Series 7 indicates you guessed at least 70% of the questions correctly on a multiple choice test.
Is this a sales job, like used cars--or is it a profession that features practioners who claim an exptertise such as accountancy or the law?
If it's used cars, then a license like Series 7 is enough. If it's a profession then an advanced degree should be mandatory.
[quote=Put Trader]
[quote=MikeTampa]
[quote=Mojo]Mike Tampa - relax and enjoy yourself. Congrats on the MBA. The only
warnings I would issue, would be of elderly men, talking with clentched
teeth, muttering they were from “Turkeylick” while they haunched over
and scattered feathers out of a brown paper-bag.
[/quote]
cool…thanks…not sure what you’re talking about… but thanks.
[/quote]
Welcome to the club. Mojo appeared a week or so ago and hasn’t made sense yet.
He seems to go through a newspaper cutting words out–then toss them in
a hat and post them on this forum in the sequence in which they are
drawn from the hat.
[/quote]
The answer is No. P-wee, is not my hand-puppet.
[quote=Dewey Cheatham]
[quote=MikeTampa]Actually, I have a
job. Do you have an MBA? Did you finish finals and then try
to jump right into this? I’m just sharing my expereince.
[/quote]
Why do I need an MBA? I have my series 7.
[/quote]Well, if it doesnt work out for me as a rep, i have a good education to fall back on.
[quote=MikeTampa] [quote=Dewey Cheatham]
[quote=MikeTampa]Actually, I have a job. Do you have an MBA? Did you finish finals and then try to jump right into this? I'm just sharing my expereince. [/quote]
Why do I need an MBA? I have my series 7.
[/quote]
Well, if it doesnt work out for me as a rep, i have a good education to fall back on.
[/quote]
Nice plan.
[quote=Put Trader] [quote=Dewey Cheatham]
[quote=MikeTampa]Actually, I have a job. Do you have an MBA? Did you finish finals and then try to jump right into this? I'm just sharing my expereince. [/quote]
Why do I need an MBA? I have my series 7.
[/quote]
An MBA indicates you received an education, a Series 7 indicates you guessed at least 70% of the questions correctly on a multiple choice test.
Is this a sales job, like used cars--or is it a profession that features practioners who claim an exptertise such as accountancy or the law?
If it's used cars, then a license like Series 7 is enough. If it's a profession then an advanced degree should be mandatory.
[/quote]
Hmmm...as far as I know I get paid on movement of product. Just like a car salesman. However, this is a much more consultative sales process since it involves the sales of intangibles and has a much greater liability beyond a car leaving the parking lot. It seems to me that this job is much more closely related to sales. Not only is it a sales job but it is a professional sales job. A degree is neither mandatory nor necessary. Common sense is all that is required. If you want to take your degree and wax philosophic about modern portfolio theory, Monte Carlo simulation, quantative models, and derivatives...THIS AIN'T THE JOB FOR YOU!
Years
ago the kids couldn’t have made it into the front office. If they
had worked hard and gotten MBA’s maybe they could have gotten
assistant-trader gigs at second-tier firms. but these kids didn’t
have MBAs. Some of them could barely read. They couldn’t
have gotten any firm to hire them as brokers, not when it was the 1980s
and the maret was booming and the Street was filled with ambitious
preppies trying to make it in the business. Kids without fancy
college degrees could have made it only to the back office, slogging
along as clerks, or maybe working in the office were brokerage trades
were executed. But the penny stock era, the era that was coming
to an end in the early 19909s, started to put the street kids in the
front offices.
Page 48, Born to Steal, When the Mafia Hit Wall Street by Gary
Weiss. A must read for anybody without a degree who thinks that
they’ve stumbled into a career that they thought was out of reach.
[quote=Dewey Cheatham][quote=Put Trader] [quote=Dewey Cheatham]
[quote=MikeTampa]Actually, I have a job. Do you have an MBA? Did you finish finals and then try to jump right into this? I'm just sharing my expereince. [/quote]
Why do I need an MBA? I have my series 7.
[/quote]
An MBA indicates you received an education, a Series
7 indicates you guessed at least 70% of the questions correctly on a
multiple choice test.
Is this a sales job, like used cars--or is
it a profession that features practioners who claim an exptertise such
as accountancy or the law?
If it's used cars, then a license
like Series 7 is enough. If it's a profession then an advanced
degree should be mandatory.
[/quote]
Hmmm...as far as I know I get paid on movement of product. Just like a car salesman. However, this is a much more consultative sales process since it involves the sales of intangibles and has a much greater liability beyond a car leaving the parking lot. It seems to me that this job is much more closely related to sales. Not only is it a sales job but it is a professional sales job. A degree is neither mandatory nor necessary. Common sense is all that is required. If you want to take your degree and wax philosophic about modern portfolio theory, Monte Carlo simulation, quantative models, and derivatives...THIS AIN'T THE JOB FOR YOU!
[/quote]Well, first off, this was a thread to say that I sympathize with anyone who is struggling to study. In another post you said you studied for
5 weeks, i've studied for 3. So in effect, not only can i take the test quicker then you can if i take it next week, im also more educated then you are. So I guess your just jealous of someone who holds a degree you only aspire to have.
[quote=MikeTampa]
In another post you said you studied for
5 weeks, i've studied for 3. So in effect, not only can i take the test quicker then you can if i take it next week, im also more educated then you are. So I guess your just jealous of someone who holds a degree you only aspire to have.
[/quote]
Just a suggestion....pass the test before you start trash talking...you're just making yourself look like a punk.
I don't have my MBA and I'm not jealous of you b/c you do. I'm intelligent, I'm making good money, my clients love me, and I'm happy. Of course, I'm still motivated to be more, but I honestly don't believe that the kind of degree or the amount of time you study for a test makes somebody better than somebody else.
Personally, I took 6 weeks to study....not b/c I'm smarter or dumber than anybody else, I just chose to take 6 weeks (I do have a life outside of my job). Sometimes everyone on here gets caught up in a 'pissing contest' for no reason.
[quote=sienna]
[quote=MikeTampa]
In another post you said you studied for
5 weeks, i’ve studied for 3. So in effect, not only can i take the test quicker then you can if i take it next week,
im also more educated then you are. So I guess your just jealous
of someone who holds a degree you only aspire to have.
[/quote]
Just a suggestion....pass the test before you start trash talking...you're just making yourself look like a punk.
I don't have my MBA and I'm not jealous of you b/c you do. I'm intelligent, I'm making good money, my clients love me, and I'm happy. Of course, I'm still motivated to be more, but I honestly don't believe that the kind of degree or the amount of time you study for a test makes somebody better than somebody else.
Personally, I took 6 weeks to study....not b/c I'm smarter or dumber than anybody else, I just chose to take 6 weeks (I do have a life outside of my job). Sometimes everyone on here gets caught up in a 'pissing contest' for no reason.
[/quote]Hey, if you read the whole thread, I wasnt talking trash. I was saying how difficult a time I'm having studying right now. Dewey started in with the whole deal about how my education doesnt matter. I was never talking trash to begin with. He didnt have to start running his mouth in the first place.
[quote=MikeTampa] [quote=sienna]
[quote=MikeTampa]
In another post you said you studied for
5 weeks, i've studied for 3. So in effect, not only can i take the test quicker then you can if i take it next week, im also more educated then you are. So I guess your just jealous of someone who holds a degree you only aspire to have.
[/quote]
Just a suggestion....pass the test before you start trash talking...you're just making yourself look like a punk.
I don't have my MBA and I'm not jealous of you b/c you do. I'm intelligent, I'm making good money, my clients love me, and I'm happy. Of course, I'm still motivated to be more, but I honestly don't believe that the kind of degree or the amount of time you study for a test makes somebody better than somebody else.
Personally, I took 6 weeks to study....not b/c I'm smarter or dumber than anybody else, I just chose to take 6 weeks (I do have a life outside of my job). Sometimes everyone on here gets caught up in a 'pissing contest' for no reason.
[/quote]
Hey, if you read the whole thread, I wasnt talking trash. I was saying how difficult a time I'm having studying right now. Dewey started in with the whole deal about how my education doesnt matter. I was never talking trash to begin with. He didnt have to start running his mouth in the first place.
[/quote]
Dewey started it!! What a dumbass.
Your initial post says that you lack motivation. I agreed with you. You got offended. Tough.
You trumpted your MBA. It doesn't mean sh*t. Get a job. Pass the series 7. Pay back your loans. Bitch.
The only thing any college degree signifies is your dedication to a goal. Not intelligence. So, you decided to waste your time getting a degree, then decided to get another one. Big deal. I spent the same time getting real life work experience. That along with my intelligence, my motivation, my personal intangibles, and my series 7 puts me well ahead of you in my (our) chosen career.
Get off the internet and get busy studying.
[quote=Dewey Cheatham][quote=MikeTampa] [quote=sienna]
[quote=MikeTampa]
In another post you said you studied for
5 weeks, i've studied for 3. So in effect, not only can i take the test quicker then you can if i take it next week,
im also more educated then you are. So I guess your just jealous
of someone who holds a degree you only aspire to have.
[/quote]
Just a suggestion....pass the test before you start trash talking...you're just making yourself look like a punk.
I don't have my MBA and I'm not jealous of you b/c you do. I'm intelligent, I'm making good money, my clients love me, and I'm happy. Of course, I'm still motivated to be more, but I honestly don't believe that the kind of degree or the amount of time you study for a test makes somebody better than somebody else.
Personally, I took 6 weeks to study....not b/c I'm smarter or dumber than anybody else, I just chose to take 6 weeks (I do have a life outside of my job). Sometimes everyone on here gets caught up in a 'pissing contest' for no reason.
[/quote]
Hey, if you read the whole thread, I wasnt talking
trash. I was saying how difficult a time I'm having studying
right now. Dewey started in with the whole deal about how my
education doesnt matter. I was never talking trash to begin
with. He didnt have to start running his mouth in the first
place.
[/quote]
Dewey started it!! What a dumbass.
Your initial post says that you lack motivation. I agreed with you. You got offended. Tough.
You trumpted your MBA. It doesn't mean sh*t. Get a job. Pass the series 7. Pay back your loans. Bitch.
The only thing any college degree signifies is your dedication to a goal. Not intelligence. So, you decided to waste your time getting a degree, then decided to get another one. Big deal. I spent the same time getting real life work experience. That along with my intelligence, my motivation, my personal intangibles, and my series 7 puts me well ahead of you in my (our) chosen career.
Get off the internet and get busy studying.
[/quote]That "real-life work experience" is clearly overshadowed by your lack of maturity. Maybe if you were intelligent enough to get into college, you would have developed a modicum of maturity. And besides, if you're so far ahead of me in your (our) career why dont you do something productive today instead of trying to rip on someone? Surely you must have some clients to attend to......
Put, have you read Liar's Poker? It is about the bond traders at Salomon back in the day. You certainly didn't need an MBA to get with the biggest firm out there then.
I try to stay the Hell away from any posting that is headed this way, but I got to tell ya, education in this business does not have anything to do with success (if anything it is an inverse relationship).
[quote=Dewey Cheatham]
The only thing any college degree signifies
is your dedication to a goal. Not intelligence. So, you
decided to waste your time getting a degree, then decided to get
another one. Big deal. I spent the same time getting real
life work experience. That along with my intelligence, my
motivation, my personal intangibles, and my series 7 puts me well ahead
of you in my (our) chosen career.
Get off the internet and get busy studying.
[/quote]Not to worry, jerk punks like this piece of schidt may be leading the race right now--but those who are essentially lazy and/or stupid, as evidenced by their lack of a proper education, will find that in the long run their clients will mature and begin to realize that the guy they've been using as a broker is a pretender.
[quote=lmjl97]
Put, have you read Liar’s Poker? It is about the
bond traders at Salomon back in the day. You certainly didn’t need an
MBA to get with the biggest firm out there then.
I try to stay the Hell away from any posting that is headed this way, but I got to tell ya, education in this business does not have anything to do with success (if anything it is an inverse relationship).
[/quote]I realize that an MBA was not necessary to land at Sollie or anywhere else in the street--especially as a trader which is actually a job that is not much more sophisticated than putting wheels on cars on an assembly line.
Another fact--people who are too stupid or too lazy to get a decent education are easily persuaded to believe that what they're doing is ethical.
You yo-yos with out an education who are working at wirehouses are damn lucky to have the opportunity. But the same slacker attitude that caused you to decide that you didn't need a degree will come back to haunt you--customers worth having are college educated and as they mature they will see the false image you're portraying and eventually drop you like a bad habit.
Those of you who are working at places that do not count as wirehouses are quite possibly soldiers in a crime family and you're simply too dumb to know it.
This industry is in a phase where anything goes, but what goes around comes around and there will come a day when the well educated, well bred, well spoken types will once again assume their rightful places and you trash will be back in the back office if you're even around at all.
[quote=lmjl97]
I try to stay the Hell away from any posting that is
headed this way, but I got to tell ya, education in this business does
not have anything to do with success (if anything it is an inverse
relationship).
That would depend on how you define success. If your idea of
success is leaving a trail of ruined lives as you convert client assets
to commission dollars you are right education is a handicap.
On the other hand, if your idea of success is to end up as a sixty year
old man or woman who is able to look back and think that they actually
contributed to the bettering of hundreds of lives education does matter.
If you’re a college dropout jerk-off at age 26 you are going to be a
college dropout jerk-off at age 45 too. The difference is that
the people you want to have as your clients are not going to identify
with you.
If you’re not yet fifty you have no idea how fifty year old people
think, but I assure you that they can cut though the bull schidt like a
laser. The guy who was your friend in high school becomes a
complete stranger within ten or fifteen years, replaced by a guy who
shares your interests.
In other words, college educated people end up as clients of college
educated brokers–it’s that mysterious thing called “class” that those
of you without it sneer at, while those of us who have it treasure it.
[quote=Put Trader]
I realize that an MBA was not necessary to land at Sollie or anywhere
else in the street–especially as a trader which is actually a job that
is not much more sophisticated than putting wheels on cars on an
assembly line.
Another fact–people who are too stupid or too lazy to get a decent
education are easily persuaded to believe that what they’re doing is
ethical.
You yo-yos with out an education who are working at wirehouses are damn
lucky to have the opportunity. But the same slacker attitude that
caused you to decide that you didn’t need a degree will come back to
haunt you–customers worth having are college educated and as they
mature they will see the false image you’re portraying and eventually
drop you like a bad habit.
Those of you who are working at places that do not count as wirehouses
are quite possibly soldiers in a crime family and you’re simply too
dumb to know it.
This industry is in a phase where anything goes, but what goes around
comes around and there will come a day when the well educated, well
bred, well spoken types will once again assume their rightful places
and you trash will be back in the back office if you’re even around at
all.
[/quote]
I was laughing so hard I couldn’t see through my tears as i jettisoned
the torpedo. Ubermensch, you missed your calling. Marvel Comics or DC
could of used you as inspiration for countless untold characters. There
is a certain beauty to your anger. If I could, I would wipe my mouth
with a big mac and fed ex you a juicy kiss planted on a nice piece of
ecruwhite Crane’s Executive paper (32lb premium weight~100% cotton~7.5
x 10.5~watermarked).
ROTFLMAO…ClerkBoy, a piece of human garbage like you wouldn’t know class if it bit you on the ankle…this keeps getting better and better!
Capital One has a great series of TV commericals, dealing with Viking pilagers needing to find new lines of work.
As you watch them think of our friends Mojo and Starka–two of the
sleaziest people this thirty year Wall Street veteran has ever
encountered.
Notice how every time I suggest that there is a sleaze factor in the
industry they both pop up with variations of the “Stop talking about
me!” theme.
What a JERK! Frankly, I think you’re a liar as well, ClerkBoy.
[quote=Starka]What a JERK! Frankly, I think you’re a liar as well, ClerkBoy.[/quote]
A liar as well? As in too?
welcome and congrats on the MBA. As you may have realized, nearly every thread becomes polluted with bickering (Im not saying that it is a specific person's fault).
Anyways, I had a path similar to yours. I wanted to take the test a few weeks after I greaduated, but then decided to wait an extra week. I passes my 7 exactly one month after I graduated. Good luck!
[quote=thumperac]
welcome and congrats on the MBA. As you may
have realized, nearly every thread becomes polluted with bickering (Im
not saying that it is a specific person’s fault).
Anyways, I had a path similar to yours. I wanted to take the test a few weeks after I greaduated, but then decided to wait an extra week. I passes my 7 exactly one month after I graduated. Good luck!
[/quote]Are you finding yourself to be a credible spokesman for what you're trying to convey--or do you wish you were ten years older?
[quote=Put Trader]Capital One has a great series of TV commericals,
dealing with Viking pilagers needing to find new lines of work.
As you watch them think of our friends Mojo and Starka–two of the
sleaziest people this thirty year Wall Street veteran has ever
encountered.
Notice how every time I suggest that there is a sleaze factor in the
industry they both pop up with variations of the “Stop talking about
me!” theme.
[/quote]
This is from Gary Weiss’s home page : "Some things never change. But
not Wall Street’s worship of greed. Luis (Weiss’s main character in the
book…) never followed the financial news very much when he was on
Wall Street. Over the past three years, as he has awaited sentencing,
Luis has read about lying analysts, indicted accounting firms, dot.coms
frauds and companies like Enron and Worldcom. During his time on Wall
Street he always felt he wasn’t good enough, not polished enough, to
leave the Chop House Wall Street where he made his fortune and join the
Real Wall Street (socio-economic inferiority complexes strike persons
at all levels of the life ladder, added to validate Put’s
presense). But in recent months he has realized that he was on
the Real Wall Street all along.
(To read more about how Luis clawed his way to the top of the Mob’s
Wall Street, buy a copy of “Born to Steal” - by author Gary Weiss)
Putsy, this author is implying that all of Wall Street is littered with
thugs and the minions who serve them. BTW, I don’t subscribe to
Television. Makes a muck of the gray matter.
[quote=Mojo]This is from Gary Weiss’s home page : "Some things never change. But
not Wall Street’s worship of greed.
[/quote]
A given truth is that sleaze like Mojo will point to other sleaze as they excuse their own lack of morality.
Tell us Mojo–do you believe that the industry is in better hands now
that you undereducated, morally casual, types are finding it easy to
fleece the public?
Sleaze on Wall Street would be a breath of fresh air after you, ClerkBoy!
[quote=Starka]Sleaze on Wall Street would be a breath of fresh air after you, ClerkBoy![/quote]
Am I the only one who thinks that Mojo signs off and Starka signs
on–could there actually be two of them or is it just one sociopathic
dual personality?
Why don’t you just ask your dear friend the moderator if we’re the same person? You did claim that he was your friend, remember?
The large brokerages are trying to commoditize the industry. The
pressure of introducing specialist (tax, financial, estate, gifting,
and insurance planners) is an effort to remove brokers/reps from the
center of influence. There is a steady strategy to marginalize the
relationship between client and advisor. By dumbing down the focal
point realtionship that the advisor has developed, with an enveloping
of specialist advisors, results in leaving the customer branded
with the firms deliverables. The reps limited role as a mere concierge
of services is the goal. Do I believe that the industry is
in better hands? No, Putsy. Do I believe your marginalized opinions,
are as a falling of the leaves, in preparation of a new season? No,
Putsy. Just Fall following Summer.
"The large brokerages are trying to commoditize the industry. The pressure of introducing specialist (tax, financial, estate, gifting, and insurance planners) is an effort to remove brokers/reps from the center of influence. There is a steady strategy to marginalize the relationship between client and advisor. By dumbing down the focal point realtionship that the advisor has developed, with an enveloping of specialist advisors, results in leaving the customer branded with the firms deliverables. The reps limited role as a mere concierge of services is the goal."
Now that would be a nice discussion point... I know that Merrill really emphasizes the team approach and the use of the specialists in providing expertise and experience in certain areas. They claim it is to further in increase the ability of the advisor to capture the account and develop the client relationship. While I agree that this is a great value-added, I also see- to a degree- your point on how it does reduce the influence of the advisor as a "go to guy". By presenting the specialists, the client may see them as the true architect of their plan- no the advisor.... This is going on throughout the industry.. THOUGHTS?? COMMENTS???? Lets try to get about 5-8 solid replies before this post descends into bashing and such....
"no the advisor.... "
Sorry, not the advisor.
Blarm- I agree with you. It is a great resource and it wouldn’t
make sense from a front office standpoint to outsource some of those
other services, but it does make you wonder if it is a scheme to make
the FA more expendible…easier to dump you out on the street and keep
the assets if someone else is really the one behind all the
plans. I would just try to minimize the clients involvement with
these specialsists so you are viewed more as the main man.
Scorpio, good point. However, I think the client might feel that the FA is a little more credible knowing that he/she has access to these people. I really doubt that clients feel as comfortable dealing with a specialist. It’s all about the relationships I guess.
[quote=MikeTampa] [quote=Dewey Cheatham][quote=MikeTampa] [quote=sienna]
[quote=MikeTampa]
In another post you said you studied for
5 weeks, i've studied for 3. So in effect, not only can i take the test quicker then you can if i take it next week, im also more educated then you are. So I guess your just jealous of someone who holds a degree you only aspire to have.
[/quote]
Just a suggestion....pass the test before you start trash talking...you're just making yourself look like a punk.
I don't have my MBA and I'm not jealous of you b/c you do. I'm intelligent, I'm making good money, my clients love me, and I'm happy. Of course, I'm still motivated to be more, but I honestly don't believe that the kind of degree or the amount of time you study for a test makes somebody better than somebody else.
Personally, I took 6 weeks to study....not b/c I'm smarter or dumber than anybody else, I just chose to take 6 weeks (I do have a life outside of my job). Sometimes everyone on here gets caught up in a 'pissing contest' for no reason.
[/quote]
Hey, if you read the whole thread, I wasnt talking trash. I was saying how difficult a time I'm having studying right now. Dewey started in with the whole deal about how my education doesnt matter. I was never talking trash to begin with. He didnt have to start running his mouth in the first place.
[/quote]
Dewey started it!! What a dumbass.
Your initial post says that you lack motivation. I agreed with you. You got offended. Tough.
You trumpted your MBA. It doesn't mean sh*t. Get a job. Pass the series 7. Pay back your loans. Bitch.
The only thing any college degree signifies is your dedication to a goal. Not intelligence. So, you decided to waste your time getting a degree, then decided to get another one. Big deal. I spent the same time getting real life work experience. That along with my intelligence, my motivation, my personal intangibles, and my series 7 puts me well ahead of you in my (our) chosen career.
Get off the internet and get busy studying.
[/quote]
That "real-life work experience" is clearly overshadowed by your lack of maturity. Maybe if you were intelligent enough to get into college, you would have developed a modicum of maturity. And besides, if you're so far ahead of me in your (our) career why dont you do something productive today instead of trying to rip on someone? Surely you must have some clients to attend to......
[/quote]
I don't know about that. I was offered admissions to 6 colleges. One in their honors program with a full academic scholarship. You might want to rethink your position.
Put,
Was it your "dedication to education" that vaulted you to such high levels of esteem and prosperity?
Or...
Was it your dedication to insider trading?
Just curious...
[quote=Dewey Cheatham]
I don't know about that. I was offered admissions to 6 colleges. One in their honors program with a full academic scholarship. You might want to rethink your position.
[/quote]A perfect example of the nonsense that adults won't accept. This cretin has bragged that he doesn't have a degree and that education is a barrier to success.
Now he's claiming that his intention was to go through life without a degree in spite of all sorts of scholarship offers and the like.
It is to laugh.
[quote=Put Trader] [quote=Dewey Cheatham]
I don't know about that. I was offered admissions to 6 colleges. One in their honors program with a full academic scholarship. You might want to rethink your position.
[/quote]
A perfect example of the nonsense that adults won't accept. This cretin has bragged that he doesn't have a degree and that education is a barrier to success.
Now he's claiming that his intention was to go through life without a degree in spite of all sorts of scholarship offers and the like.
It is to laugh.
[/quote]
True. I was offered admission. I accepted one offer. I left after a few semesters. Rote knowledge bores me. Much like you.
Now do you understand?
Duh...
Put...answer the insider trading question...you bragged about that too!
Put...answer the question about wanting to be a rich black man...
First, you state that you won't hire a black man. Then you compare yourself to Stan O'Neal.
[quote=Put Trader] [quote=thumperac]
welcome and congrats on the MBA. As you may have realized, nearly every thread becomes polluted with bickering (Im not saying that it is a specific person's fault).
Anyways, I had a path similar to yours. I wanted to take the test a few weeks after I greaduated, but then decided to wait an extra week. I passes my 7 exactly one month after I graduated. Good luck!
[/quote]
Are you finding yourself to be a credible spokesman for what you're trying to convey--or do you wish you were ten years older?
[/quote]
All I am trying to say is that he it can be done (passing the 7 within a month of graduation). Im not really sure what you are getting at?
[quote=MikeTampa]Actually, I have a job. Do you have an MBA? Did you finish
finals and then try to jump right into this? I’m just sharing my
expereince.
[/quote]
In my opinion, MBAs are severely overrated–and over-compensated.
There is very little difference between the material taught at the
undergraduate level and the MBA level. I’ve looked at a number of
programs. The difference? One starts at $40k after
graduation and the other starts at $80k.
The S7 encompasses a tremendous amount of material. It’s not
difficult, especially for a Finance major. If you have a BS or
MBA in Finance, the calculations involved in studying for and taking
the S7 are going to seem like child’s play.
[quote=inquisitive]
The S7 encompasses a tremendous amount of material. It’s not
difficult, especially for a Finance major. If you have a BS or
MBA in Finance, the calculations involved in studying for and taking
the S7 are going to seem like child’s play.
[/quote]
That is true, there are virtually no calculations on the Series 7 any longer.
The NASD was faced with a crisis a few years ago. People were
failing the “old” test in massive numbers and it was decided that it
was the calculations that were doing them in. You used to have to
caclulate obscure margin requirements for options, you used to have to
be able to calculate how much SMA remained in an account following two
or three trades, you used to have to calculate things like the return a
bond generated if it were called early, you used to have to
calculate how much accrued interest was to be paid on a seller’s option
bond trade that incorporated both Christmas and New Years.
I was in the meeting where it was decided that due to the lack of
ability of the younger people (the fault of schools) and the fact that
computer systems were now doing the calculations for the brokers that
it seemed unnecessary to have the exam candidates actually perform the
calculations themselves.
Adding to the issue was the fact that some of the penny stock firms
were providing their rookies with a Hewlett Packard calculator that had
a built in memory. Those machines had been “loaded” with alpha
facts, and when the user pushed a combination of keys the little screen
became a scrolling cheat sheet.
Out of self defense the NASD decided that those calculators were not
allowed and that all that would be acceptable were basic four function
calculators. Well, things like the yield to maturity cannot be
calculated correctly on a four function calculator–only the “rule of
thumb” method can be. The rule of thumb method, while close is
not precise. Much discussion was focused on the relative fairness
of asking a question and then providing two correct answers–one the
precise answer and the other the rule of thumb answer.
It was decided to not ask the question at all. That was the
camel’s nose under the tent for those who whined that the Series 7 was
too hard.
Series 7 has always been a focus of whining. Back in the 1980s it
was the penny stock firms that whined. They hired morons and
those morons were unable to pass the exam. Firms like First
Jersey complained bitterly that they did not do options and it was
unfair to them that options were so important on the exam. Ditto
for margin and bond yields–calculations are unimportant when you’re
selling fake stocks at prices that are chosen by the broker at the
moment he gives a quote. What I’m saying is that the same stock
could be dollars per share apart at the same moment–you’d be telling
your client it was 22 1/2 and your buddy across the room would be
telling his client that it was 17 3/4. It didn’t matter, there
was no stock anyway.
Well, the NASD was hardly going to make it easier for penny brokers to pass the exam–so their whining went exactly nowhere.
Then in the early 1990s the insurance industry began to realize that if
they were to be truly competitive their people had to be Series 7
licensed. For a number of years "Pruco Investors Services"
sponsored huge numbers of people–with disasterous results. The
same happened at NYLife and others.
So they began to whine. This time the NASD did listen since the
insurance industry was not a hot bed of criminal activity. As a
result, sometime around 1995 the Series 7 began to change. They
did not ring a bell and announce, “Hear ye, hear ye–henceforth the
Series 7 exam will no longer include calculating
the…” Instead those types of questions just
stopped being asked.
Training departments–and schools such as STC–continued to teach the
material. But what happened was rookies were coming out of the
exam and talking to people like me. I’d ask if they could
remember the details of any of the math problems and get answers like,
"I didn’t need a calculator."
At first we thought that that response was because that was a smart
person who did the math in their head–or perhaps it was because their
particular question mix had no math. It was possible, not likely
but possible.
Then it became clear. The chairmen of the question writing
committees went somewhere for a meeting–why meet in NYC or DC when
there are perfectly nice meeting rooms at Palm Springs? Anyway,
at that meeting it was “suggested” that questions involving
calculations were not what the NASD was looking for, instead they
wanted questions that tested the candidate’s knowledge of the
relationship of numbers to each other rather than the acutal numbers.
In other words, if a bond is called early is its yield more or less
than it would have been if it was not called early–stuff like that.
It, Series 7, is not and never has been “child’s play.” Not
because the degree of difficulty is so high but because the sum total
of the massive number of facts that are tested. It’s not
unlike taking a single test dealing with an entire four years worth of
college level material–stuff from freshman year mixed in with stuff
from senior year, all on the same high stakes test.
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