I was reading the New York Times the other day, and came across this article on Warren Buffett and his take on the current downturn/recession/who-cares-what-you-actually-call-it-because-it-blows. A few 'graphs into the article was this wonderful nugget:
Charlie Munger, Mr. Buffett’s 85-year-old business partner, added his two cents: “Some of the worst business decisions I’ve ever seen are those with future projections and discounts back. It seems like the higher mathematics with more false precision should help you, but it doesn’t. They teach that in business schools because, well, they’ve got to do something.”Great.......
It reminds me of when I was making the rounds with developers in town interviewing for information and trying to break into the business. Everyone said, "nah, you don't really need an MBA to do this. You just need to find someone who will beat you up for a few years and show you the ropes." Of course, everyone who said this a) had an MBA; and b) wasn't willing to hire me and beat me up for a few years.
I did finally get hired and learned a lot of stuff at my firm, but the financial crisis was killing the development world when I was looking for work again. So, now I'm done with another semester of b-school and have decided to tack on a finance minor in addition to my real estate major. Which apparently is all pretty worthless, according to some of the richest men in the world.