One semester under their belts and all of a sudden they’re too good to be consultants. Read more »
Back in February, a young man named Mathew Martoma (né Ajai Mathew Thomas) was convicted of securities fraud. In addition to the actual act of using material non-public information about drug companies Elan and Wyeth to help out his employer, SAC Capital, in the P&L department, one thing that did not do wonders for Martoma’s case was the revelation that he had been expelled from Harvard Law School in 1999, as even he will tell you. For everything that Martoma is (a white collar criminal, an accomplished dancer), one thing he isn’t is stupid. That’s why when he was applying to Stanford University’s business school in 2001, he opted not to mention the incident at Harvard, probably figuring it would hurt his chances. One thing Martoma did not have the foresight to anticipate was that he would one day be a convicted felon, and, more importantly, that when it comes down to it? NOBODY MAKES A FOOL OF STANFORD. Which is this just happened:
Mathew Martoma, the SAC Capital Advisors LP employee found guilty last month of insider trading, is no longer a graduate of the Stanford Graduate School of Business, the school confirmed Tuesday. Administrators at the business school rescinded their offer of admission to Mr. Martoma, a move that nullifies the degree he earned in 2003, according to people familiar with the matter.
Of course, the university is not totally heartless: it gave Martoma a chance to explain, but evidently 4 weeks is not enough time to come up with a credible story. Read more »
Back in December men and women across the globe sat down to take the first exam in a series of exams that they hoped would, one day in the distant future, allow them to place three little letters next to their name, on their business card, email signature, linkedin profile, and maybe even cock: CFA. In practice it would stand for Chartered Financial Analyst, but in theory, oh, in theory, it would mean so much more.
In the weeks since, they’ve tried to put their test out of their minds. Focus. Be in the present. Not agonize over their answer to the question:
Sammy Sneadle, CFA, is the founder and portfolio manager of the Everglades Fund. In its first year the fund generated a return of 30 percent. Building on the fund’s performance, Sneadle created new marketing materials that showed the fund’s gross 1-year return as well as the 3 and 5-year returns which he calculated by using back-tested performance information. As the marketing material is used only for presentations to institutional clients, Sneadle does not mention the inclusion of back-tested data. According to the Standards of Practice Handbook, how did Sneadle violate CFA Institute Standards of Professional Conduct?
Trying not to think about how they’d done was a fool’s mission, of course, as was attempting not to let their mind wander during particularly boring conference calls, about how they’d react upon receiving a passing score. They’d want to be humble, sure, but a confident humble. After all some of their friends probably would not be so lucky and they’d want to come off as sensitive, even though internally they’d be screaming “Hosanna!” from the mountaintops.
Waking up this morning, however, a sobering thought passed over them: what if they failed? What if the hours, days, weeks, and months spent planning were all for naught? What if the money spent was money down the toilet? What if the significant blows to their personal lives were made in vain? What if they had to return to CFA test prep school with their tails between their legs? What if the week they’d blocked off in their Outlook calendar for CFA Camp 2018 was premature? Read more »
Time was, the name “Wharton” signaled something. Prestige. Power. Off the charts entitlement. A long, proud history of sending students to the National Championship of DCF Modeling and and sending the “competition” home with tears in their eyes. Now, though? Future Masters and Mistresses of the Universe can’t even bother to apply. Read more »
Exciting news, if this is the sort of thing you get excited about. Read more »
Unfortunate Scheduling Leaves HBS Student With Mother Of All Sophie’s Choices: Bomb Marketing Exam Or Marry Some Kind Safety School Street UrchinBy Bess Levin
One night that fall, Ms. Navab, who had laughed off the hand-raising seminar, sat at an Ethiopian restaurant wondering if she had made a bad choice. Her marketing midterm exam was the next day, but she had been invited on a very business-school kind of date: a new online dating service that paired small groups of singles for drinks was testing its product. Did Ms. Navab want to come? “If I were in college, I would have said let’s do this after the midterm,” she said later. But she wanted to meet someone soon, maybe at Harvard, which she and other students feared could be their “last chance among cream-of-the-crop-type people,” as she put it. Like other students, she had quickly discerned that her classmates tended to look at their social lives in market terms, implicitly ranking one another. And like others, she slipped into economic jargon to describe their status…As she scooped bread at the product-trial-slash-date at the Ethiopian restaurant, she realized that she had not caught the names of the men at the table. The group drank more and more. The next day she took the test hung over, her performance a “disaster,” she joked. [NYT]
Porn Star-cum-Lubin School of Business School Student Pretty Sure Peers/Professors Won’t Be Able To Keep Their Hands Off HerBy Bess Levin
That’s why former Teen Mom cast member Farrah Abraham has elected to enroll in Lubin’s online program, to save her fellow MBA candidates from themselves. Although you won’t see her in any lecture halls, please, if she happens to make an appearance on campus for whatever reason, keep it in your respective pants. Obviously that message goes out to the faculty as well. Read more »
From: redacted at Stanford GSB
Date: Tue, Apr 9, 2013 at 2:02 PM
Subject: [blastmsg] Dove Rescue Mission (Schwab Lobby)