Flaubert once wrote that “in a corner of every notary's heart lie the moldy remains of a poet.” That truth still holds, though a modern version of that dictum might replace the notary with a social media director or a gossip columnist or a barista or something. But at least one guy is trying to get those moldy remains into finance.
Meet Daniel Rasmussen, Verdad Fund Advisers founder, recent inductee into Forbes 30 Under 30 in finance and apparently the author of a New York Times bestseller. But you don't have to have all that on your resume to get in the door at his hedge fund. A major in liberal studies and a willingness to cash in might be all it takes. From Business Insider:
Though he has spent nearly a decade in finance, he is still a historian at heart. And Rasmussen believes humanities majors have something special to offer to financial firms.
"Students of history and literature are more trained to understand the existence of multiple perspectives and to engage with them, and so can often more accurately understand the human dynamics that drive stock market flows," Rasmussen said. That skill is the reason he exclusively hires liberal arts majors for his undergraduate internship program.
Rasmussen's sympathy with the downtrodden philosophy majors of the world represents a real opportunity for a class of graduates that manages to pull down a comparatively tiny fraction of the jobs on Wall Street – less than 10 percent according to an eFinancialCareers report. But don't expect the whole firm to look like a literary salon.
Rasmussen has an MBA from Stanford in addition to his history degree. And according to his description, Rasmussen's fund aims “to replicate private equity returns in the public markets by using research and quantitative methods to build a portfolio of leveraged companies.” A Proust dissertation only goes so far at Verdad.