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=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.