Sunday, September 12, 2010

Me, Myself and I

Hi, my name is Kyle Yuen. I am currently a Senior at Binghamton University and majoring in Economics. I transferred to Binghamton University last semester. Before I transferred to Binghamton, I attended Stony Brook University and was double majored in Biology and Physics. Through out my attendance at Stony Brook I have switched my major from Biology and Physics to Computer Engineering and Computer Science.

But upon reading "Intelligent Investor" and "Security Analysis 2nd edition" by Benjamin Graham, I soon found a different interest. I became interested in Security Analysis and decided to transfer to Binghamton because Stony Brook was more of a medical and science school. But so far my attendance at Binghamton University have been somewhat disappointing. For those that have read and understood "Intelligent Investor" and "Security Analysis" by Benjamin Graham, they would realizes that a lot of things related to corporate securities being taught in this school or a lot of other school is quite wrong.

It seems that the media and academics have a tendency to only blame Wall Street for certain things without realizing that fundamental flaws can be found at the things being taught in school. By looking at our financial history from early 1900s to late 1950s it would seem that Security Analysis as a field was changing and progressing for the better in some ways. But after late 1960s to present times it would seem that things learned in the previous half of the century has been completely forgotten. It would seems that people have not heed George Santayana's warning, "Those who cannot remember the past are condemned to repeat it." The lack of remembrances of history is not the only problem of academics in finance, it seems that logic is also of absences. Because of this problem I am still uncertain whether I should continue my studies in Economics or switch to Financial Economics or Finance. Hopefully I can make this decision by this semester.

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