Originally posted by Pook
But you will never be able to become rich as an employee (unless you are a super-celebrity) or financially free.
i beg to differ. in my circles nearly everyone is an "employee". this would include attorneys, investment bankers, hedge fund managers, private equity, venture capital, partners at major consulting firms, big time real estate developers, execs at major companies, etc...
all of these people are highly educated, formally educated. i would include myself in that mix. BS Finance; BS Economics; MS Mathematics; MS Economics (a freebe); PhD Economics.
i challenge anyone out there to tackle Stochastic Optimal Control Theory on their own. can't make any money with this knowledge? hmmm...talk to some people i know who work in the abritrage department of a first tier I Bank. they get paid base + bonus, the latter is often 20x the former. they are "employees".
i have a bud who has a masters in theoretical physics. worthless degree? he's at an investment bank pulling in a couple mill a year doing currency arbitrage--using his math background.
i have another colleague who has a degree in english from Harvard. he worked his way up to partner in a vc firm. this employee cashed out a cool $100 million.
because of their education they are way ahead of the curve--these people know their sh!t--big time. would they be where they are without the education? maybe some, but the general answer is, nope. wouldn't even get in the door.
but at the same time, they have the street smarts, as they say. bullshi++ing the bullshi++ers--and better. transferring other peoples money into their pockets. smart money grabs dumb money, etc.
some of these cats pull in $10 million a year. vc, private equity, hedge funds, more still. they are "employees".
there are dumb people making millions. there are smart people making dirt. there are people making billions from SELLING FUKKING WATER! AND DIRT! AND AIR!
many, many, many, people go through the "employee" ranks, learn the business, then cut off on their own and make a ton of money taking the clients with them. there are people, such as myself, who have never been an employee.
we always joke amongst ourselves that, "we are pimps". we have a bunch of ho's working for us, making us money. but treat 'da ho's proppa.
lastly, after scanning through these posts, i have confirmed what i already know...20 year olds are very naive. that's ok though, i said the same damn thing that most of you are now saying, when i was 20. but your chances of becoming rich are far greater if you have an education, than if you don't. if you choose DRAMA, forget it--you are in cat food for life territory.
