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Need help deciding future plans

Im in 2nd year of my undergraduate as business administration.I don’t know whether I should be doing CFA then MBA,or  CFA and no MBA.

My Father has a textile wholesale business and my brother who is 27 is with him,but he isn’t paying interest in the work,so I think I’ll have to takeover eventually.

So if I choose either of the two options above , how are they going to benefit me in my career path?


Where do you see yourself in 3 year, 5 years, then 10 years. Are you going into finance (In the investment decision making process)for at least 4 years? I would talk to one of your professors about it.  Also, sit down with your dad and a financial planner to discuss the business and what your plans are. Tell your dad you need to know what his plans are so you can plan your life.  He needs to put together his retirement and estate plan. Both of these things (CFA, MBA) are huge commitments.  If you’re secure in your dad’s business you don’t really NEED either. The knowledge you gain is what’s useful.   I don’t regret my MBA even though I’m self employed. 

Financial Planner
BBA (Finance & International Business) 1998,
MBA (With a Global Perspective) 2011,
ChFC® 2018, CLU® 2019
Owns an Independent RIA/Insurance Agency
Series 65, Life, Annuities, Health (Expired 6,63)

If you’re going to take over the business, don’t worry about target schools either.  No one cares because you da man. Or woman, I don’t know you…

Financial Planner
BBA (Finance & International Business) 1998,
MBA (With a Global Perspective) 2011,
ChFC® 2018, CLU® 2019
Owns an Independent RIA/Insurance Agency
Series 65, Life, Annuities, Health (Expired 6,63)

I would forget the CFA as useless on that career path (maybe do level 1 at most).  A CFA from a good school will do way more in terms of the big picture perspective and make you a valuable network of connections.

#FreeCVM #FreeTurd #2007-2017

You’re saying that I should do CFA from a good school and not on my own?

I’m pretty sure that was a typo. Swan meant “MBA” from a good school.

In that case can you suggest me some good schools in London?

I meant MBA, that was a typo.  I’m sure if you look around you can find good schools.

#FreeCVM #FreeTurd #2007-2017

I replied to you but it dosent show in the forumn? why is that


I can commit to both as the business doing very well and they dont need me.I dont mind not doing a job in a bank (such as investment banking) to go to my dad’s office.However,if you say MBA is not useful,I’m fine with not doing that but I would atleast want to do CFA has there is commitment(such as I dont have to go to university everyday,I can make time and study at home) doing CFA would help me make investments.I spoke to my father and he said that I should do MBA and CFA as both will help me in running the business and doing CFA will make me not depend on others to help me make investments.But he asked me to do a job for atleast a year before entering the family business so that I am serious about it and dont take the business for granted.

you cant get a good mba without exp. your choices as of right now is limited to teh cfa exams. from the cfa program, you can get a job, if you work 4 yrs and pass exams you can get charter. or you can get a good mba once you have a couple years exp, then get another job. or you could just work the family biz. but imo, there is a lot of pitfalls in that industry and things can easily go sour.

prolly better that you diversify your family business excess cash to the stock market or real estate. you should always figure a way to extract as much cash from your business while increasing your personal net worth then diversifying your net worth. if the business goes south, then although the businesss dies. you still have all your assets in your personal acct. 

anyways there is an interesting story right now, abotu this guy who si inherting control over this auto maker. his plan is to merge with anotehr co, get really big, then sell his stock in order to diversify to other industries. hes a big fan of buffett. link below. now the co is actually looking pretty solid and cheap right now but its also really cyclical and they had problems during hte great recession.  lots of institutional managers that are good at stock picking have taken up positions as the stock is undervalued. so its interesting how it all plays out.

I love my cheese. I got to have my cheddar.

“you cant get a good mba without exp” 

I know two guys who went straight to Harvard MBA from undergrad. One had a really good transcript, and the other was the son of a business tycoon in some country. So, it is not impossible in general. For the guy in this thread though, probably it is impossible. 

Unless you mean Harvard is no good lately, which to be honest, I don’t know, especially when comparing it to CFA, Indian CA, eating live snakes, or top 50 student in Uttar Pradesh.

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

^yep thats what i meant.

possible but rare. in my class, some chick actually did udnergrad and mba at same time. anyways looking at median class profile can help you see what you need.

anyways i know a guy in the wholesale textile bus. he made a ton of money when the going was good. i think his networth is prolly between 5m to 15m as he has a bh home and a few commercial props and lotsa nice cars. but when **** went sour. he had a ton in invetory and was selling them dirt cheap to his competitors. i think he bankrupted the business. but kept excess cash for himself and invested in real estate. he would restructure those loans before the business collapse on the heavy debt burden.

bitcoin’s dad did the same thing as well with the porn shops, he didnt lever up the business though, so the porn shops still goign strong but with less than half of peak sales.

anyways its a common strat. ppl issuing debt to pay dividends or sahreholder buybacks. thats why corporate bonds are ****. private equity does same thing. buy a co, improve performance. lever the ****. distribute money to itself. sell the co through ipo. then co may or may not go bust.

I love my cheese. I got to have my cheddar.

I think what Nerdy is saying is that you need to work a few years in the porn industry as a fallback in case things go south.

#FreeCVM #FreeTurd #2007-2017

I realize what you’re saying Ohai, but times are different now and those two kids made that move to HBS like 40 years ago.  Also for the life of me, I can’t rationalize why someone would go straight through to MBA.  Without a little experience you’re not substantially altering your pool of current opportunities and robbing yourself of the future optionality/break an MBA a few years in to your career offers.  I mean, you could argue you had a technical specialization and want to diversify, but that’s what double majors are for.  Seems weird.

#FreeCVM #FreeTurd #2007-2017

Anyhow, for JitenK, you can always just do CFA now and explore what MBA opportunities are available to you.

#FreeCVM #FreeTurd #2007-2017

Thats really smart,I’ll think about it


undergrad and mba at the same time must be really difficult, Mark Cuban did the same thing but he went straight for Masters

My parents networth also is in the 15m and they have invested a good amount in real estate,but they are not investing since the past 2 years as they are waiting for the crash so they can invest big,and thank god my parents arent in any debt or dont even want to they find it too scary.But what scares me is that their investments arent diversified and they only invest in real estate and fixed deposits, I want them to try new investment methods but they dont listen.My dad got a offer to join private banking but he declined as private banking was too complicated apparently, you see what I mean  they arent interested in trying new things that would give them a good return.


I dont understand,should I work and then do mba then join family business.or do mba now along with cfa and join family business?

My dad has asked me to work outside for atleast 1 year ,so that im serious about my work and dont take the family business for granted


you cant get good mba without experience?

What do you mean by good MBA?

I’m gonna work but not for more than 1 year,as I really want to get into the family business.

The question is that is CFA AND MBA worth the knowledge if I will join the family business.

Lol bottom line don’t do the cfa. Work outside family business for 1 year to make your dad happy. Learn the textile business. Hire private bank to manage your excess money from the business. In the future maybe consider doing an mba. Your daddy can prolly promote you to ceo of your company. And you can will increase your odds of getting in to a good school. It might teach you how to think better and how to invest!

everything is actually pretty expensive right now. We are at cyclical highs. Now is the time to pay down debt or build cash reserves.

Good mba is loosely defined as top 20 mba school. The typical candidate will prolly have 3 to 5 years of experience. I think you need a minimum 1.5 year to check off that point. Also to earn charter you need 4 yrs finance exp.

Anyways if you are not getting the credentials then I don’t see the point in doing either. Sure you’ll learn stuff, but you’ll waste stuff learning **** you don’t need as well. Imo the best thing that will help your family is for you to learn accounting and how to invest. These two things will help you evaluate your business and compare it to others and may just convince you to diverisfy.

 Most old rich people I know don’t like to try new things. Imo they prolly get approached a lot to do many different things, so it’s prolly smart for them to be hesitant. Many who have been successful do usually use extra money for real estate or fixed rates back when rates were a lot higher. 

Also private bank will typically handhold you in investing while charging you 1 percent. So that’s prolly like 150k per year, if you are worth 15m. What’s even more funny is they’ll just buy mutual funds from their bank that will charge you another percent. Anyways if you are going to focus on learning textile business, you are prolly better off paying a guy to manage your excess money for you.    

I love my cheese. I got to have my cheddar.

Makes sense, you said that I learn accounting and how to invest, how do you propose I do that?(Are you reffering to CFA?)

Yeah,I dont think the 150k is worth it lol, its too much as returns are not that high aswell.

Due to recession now,there is no point for a private banker as most likely value of investments will dip further during 2020.My parent’s friend who is worth atleast 150m has earned his fortune from real estate,so he advices my parents what to buy,when to buy,when to sell, etc and my parents trust him blindfoldedly and he has helped my parents earn good profit from flipping real estate.

Accounting would really help the family business,as I asked my dad about the Rate of inventory turnover ,to see if he has put alot of money in stock,and he said that he dosent know (he said maybe 3,is that good?)

you are still focused on credentials. when you can easily learn this stuff outside of that. there is a ton of stuff on youtube that can teach it to you for free. since you are undergrad you can take accountign classes but this might negatively impact your grade, if you dont do well. you’ll need a good gpa for a good school.

150k is worth it, if they are managing 15m and you dont know what you are doing,  they’ll prolly earn you at around 5x that. 

real estate is what everyone does because there are tax benefits associated with it. similarly msot rich people have private businesses since it allows them to minimize taxes by claiming deductions. flipping real estate is typically a bad idea. the smart real estate people just refinance their properties, that way they dont recognize taxes, and they hold on to the tax deductions associated with property. msot real estate will have paper losses but will be cash flowing assets. 

dont know much about wholesale business but yours seem kinda low which prolly means you have a ton of inventory. a high inventory turnover is typically preferable as it means you are selling your inventory fast (or you dont have enough inventory on hand, which means you can make more money by buying more inventory). learning accounting istn just for operational uses, you can also use it to evaluate other businessses, which if ur rich is something you’ll want to have if you want an edge. 

I love my cheese. I got to have my cheddar.

Oh wow,by the way do banks assure a return or is it still at your risk?

My family is in Dubai,so there are no taxes except VAT,in that case flipping is worth it I guess.

Yeah,I spoke to my dad as to why isn’t he calculating such ratios,he said that he will when the main accountant comes back from his vacation.But I got him to believe as to why calculating that is important, so that’s good.

I forgot to mention,my mum is a agent for foodstuff and sundries , my dad earns 2x than her , but I also want to takeover my mum’s business as she is a agent for the biggest supermarket chains in Dubai and she has good connections with suppliers so I don’t want to waste those resources she has.

returns are never assured, thought i have heard others make this claim, but if they do, they are very likely buying expensive premiums at the expense of the majority of your returns or are comitting fraud so avoid them. the closest you can get to an assured return is a us bill, which yields roughly 2.5%.

anyways sounds like you got an awesome thing going for you with plenty of options. the benefits of being baller, so i envy your positions. use your connections well. anyways dubai is also a pretty awesome spot for a tourist, i know you guys have a ton of my filipino bretheren over there working and from what i hear they live kind of roughly. so treat them nice, esp if they are hot. lol

I love my cheese. I got to have my cheddar.

Isnt a fixed deposit a higher assured return than US bill?I’m from India,and my parents have fixed deposits in India,I was shocked to learn that the rates touch 7%,keeping account into currency fluctuations its a really good investment ,but my parents keep more in Dubai as our business is here.

haha not a baller,my parents are frugal for some reason(our cultural group “sindhis” is known to be selfish and frugal hahah )Maybe because they started of with nothing,and are not willing to let money go away? idk

Yeah,there are many filipinos here,they actually dont have it rough atleast the ones with stable jobs as they are known to spend most of their incomes on going out,restaurants ,atleast the millenials lol,they dont send back their salaries back home ,and spend it all

but the deposit will have default risk from bank. india has higher rates cuz it typically has higher inflation. though that may not be the case right now. 

never let money go. let money grow! there is nothing wrong with being frugal! anyways 15m usd net worth from just ur parents is pretty baller to me. imo, anyone with 3m is golden.

aww saddd. anyways i saw a special on dubai yesterday via cnbc. pretty amazing that their enteir economy is based off trade and tourism and that oil is only 2% of gdp.

personally i dont see the allure of the desert. but i have seen some chicks i met become insta thots over there and the malls look banging. and shes like a swedish chick.

I love my cheese. I got to have my cheddar.

Yes,but inflation dosent matter if your not going to spend the money in India,if you withdraw it to Dubai,its worth it right?

Yeah,most of dubai’s expenditure is on tourism,even now for eid holidays ,hotels are mostly booked and 5 star hotels start at 130 usd with food and beverages lol.Dubai is just affiliated with oil in social media ,as its rich and is arab country…Saudi Arabia has lot of oil,their richest family is said to worth  $1trillion,the family has 15,000 members but around 2000 have most of the wealth :O

I’m born in Dubai and went to the desert only once….yes you cant trust insta thots,maybe sugar babies lool.

malls in Dubai are very good,Dubai mall the most famous of them all is too overrated,as its too crowded and too big.

Such as Mall of the Emirates have luxury to basic range shops and has all the entertainment facilities and it isnt tht crowded compared to dubai mall.

Nah you’ll still take the hit via exchange rate. Inflation affects it

I love my cheese. I got to have my cheddar.

Just remember, there’s always money in the banana stand.