Contract Enforcement. One of the most important aspects of a free market.
DirtyZ… you nailed it. Exactly what I’m saying. If you can’t “move-up” on your own brains/undergrad and you’re not good at math then law is about the only thing left (that is semi-respectable & has potential). Lawyers suck and the system is broken because of them. Lawyers should be ashamed of themselves. Pro-bono doesn’t make up for the evilness that they do.
lawyers are idiots. and according to another thread, especially ivy league ones.
Some lawyers are professionals, some are not. Some CFA’ers are professionals, some are not. Stop generalizing. CFA v. JD? Apples and Oranges. Law is not easy, it’s very analytical, and the bar exam (NY, and perhaps CALI) has been equated to CFAI, II, III, back to back to back.
yes i agree, law degrees take more time and money but i was referring to the level of difficulty…passing the cfa says something about the individual’s intelligence if you have the dough and all the time in the world, is it not true that someone of moderate intelligence can get a law degree but have no chance at the cfa
i can’t believe you guys are here bashing a whole profession and calling them idiots. The very act in and of itself shows tremendous ignorance. I shouldn’t even have to tell you guys this, you guys are suppose to be advanced or least mature enough to learn not to throw rocks at people.
Frankly Frank, I’m ashamed of you for defending them. When you get sued and you have to hire a blood sucking lawyer who charges you by the minute… your attitude might change.
FrankArabia Wrote: ------------------------------------------------------- > virginCFAhooker Wrote: > -------------------------------------------------- > ----- > > Your economic logic is not correct for the > legal > > profession. The existance of more lawyers > > actually creates the need for more lawyers to > > combat those lawyers. It self perpetuates. > > > > The way to fix the lawyer problem is to make > them > > all pass an algebra test to get into law > school. > > > > I don’t care about real estate agents. Real > > estate agents have a relatively riskless career > > because they don’t invest their own capital. > > > i want to understand your assumptions iwth regards > to your theoy that more lawyers requires more > lawyers. i understand that with more lawyers you > will need to hire more lawyers for protection. > However, we’re dealing with a fixed client base > and from waht you’re saying, each client can > potentially have 100 lawyers to protect them from > the lawyers. there exist a limit as to the number > of lawyers one needs depending on what you can be > sued for i guess. > > what kind of model are you working with here? or > do you just find the idea intuitively appealing? It’s like the permit raj in India Frank…bureacrats create more burecrats which create more. It’s a vicous cycle. I just dislike lawyers (as a profession) because the local law school and all of the know it all wannabe lawyers (which is like wannabe squared) that are around. Law school requires time, commitment and money true. But CFA requires quite a bit of time (at least a third as much I’d say), not to mention that many of us work while doing it. I also find law students to be far less rounded than commerce/business ones. but that’s just my 2
FrankArabia Wrote: ------------------------------------------------------- > lawyers are important to our economy. They’re the > enforcers of our law, whihc is the glue that keeps > the investment bankers in their Ferraris. > > lets not insult any lawyers here, they serve a big > role. so what if they’re not as mathematically > inclined as some finance geeks, they don’t have to > be. George Bush problably can’t do probability > either, but he has the muscle to bomb a nation and > control world affairs. George W Bush is the first President with an MBA. own it
How about a lawyer, CFA combo? Will that gain your respect?
Nah… a lawyer/CFA combo would just show me that the person holding such a combo is an idiot. I’m hard to please I guess.
“you guys are suppose to be advanced or least mature enough to learn not to throw rocks at people.” What on God’s good earth has made you think that? Do you read what we talk about here?
Isn’t the Goldman CEO a lawyer? And many C-level fortune 500 leaders?
In Canada they say “never buy an oil & gas company run by a lawyer or a landman.”
analyzethis Wrote: ------------------------------------------------------- > yes i agree, law degrees take more time and money > > but i was referring to the level of > difficulty…passing the cfa says something about > the individual’s intelligence > > if you have the dough and all the time in the > world, is it not true that someone of moderate > intelligence can get a law degree but have no > chance at the cfa You are assuming that all law degrees are created equally when in fact they are not. Anyone accepted to a top law school has most likely demonstrated some combination of intelligence & work ethic that is greater than that required in obtaining a cfa. Outside of those top schools, a law degree is relatively worthless & is probably a negative npv proposition.
Anyway, seems like law degrees have turned into a good general “analytical education” as there are so many nonpracticing lawyers. Perhaps because there isn’t enough work to go around? Hopefully CFA doesn’t become like that.
no. CFA won’t become like that. CFAs can always work in a call centre remotely related to the field of finance.
I think the combo question has merits…I’m not in IB, but don’t they have some in-house lawyers for M&A? If so, wouldn’t the combo theoretically make you more valuable?
I think the law of diminishing returns would definetly apply here…
it would be neat if one could take the bar without law school…