I want to learn about finance

brendon

Can I ask why you want to go into investment banking as a career, since you've admitted you know nothing about it?

VeryMan wrote: »

I know almost nothing about finance.

martin2345uk

brendon wrote: »

Can I ask why you want to go into investment banking as a career, since you've admitted you know nothing about it?

Probs because of this

https://forums.moneysavingexpert.com/discussion/5452299

tacpot12

One reason why there are few books on the subject is that it is very wide-ranging. Even a book on the basics would have to cover many concepts, and the author would always have the problem of where to stop. I had a look around Amazon and couldn't find anything that was obviously suitable.

Even financial education books for school children all focus on basic personal finance issues, such as bank accounts, budgeting, credit (loans, credit cards, mortgages) , savings (interest on savings), tax and the benefits of investing, but not the mechanics or language of investing.

What ever learning you achieve, I would suggest you supplement it is two ways.
1) You need to understand the products that you as a retail investor can purchase. The only way to do this is to study the materials that the companies selling them publish, and ideally invest in them; buy some shares, buy some unit trust funds, buy some Bonds, some Gilts, etc. and try to track their performance.
2) You need to understand how the sellers of these products make a profit from them, and how they cover the considerable costs of providing the product to the market. Once you understand this, you can get a job in investment banking.

As a starting point, you need to understand how companies are formed, specifically how their share capital is created and how the profits & losses they make are divided between the shareholders.

Best wishes

ViolaLass

Oh god, I just caught myself muttering about 'young people today'.

I don't deserve this.

Pincher

http://www.amazon.com/Breaking-Into-Investment-Banking-Unorthodox-ebook/dp/B00OWHYZIU




This is amazing. You want help, somebody has written it.


I think I'm going to write a book about how to volunteer for the Mars space program. There is bound to be some keen space cadets desperate for guidance to break into space travel.


Tip No. 1: Pair up, you score higher because you are more stable socially, and can produce children when you get there.


God father of the self-help book, Norman Vincent Peel, we praise you.

saver861

Somehow ..... I think your future seems more in your existing engineering field .... just a hunch don't ya know ....

mark13

Give your local college a ring. They should be able to advise you.

bigadaj

BananaRepublic wrote: »

bigadaj is correct, I knew many people who went into investment banking, all had first class degrees mostly in physics, and higher degrees from world renowned universities. And good grammar. I'm not jealous, no really, well, not much, well okay, I'm green with envy.

What is it about investment banking that appeals? Is it the money? If so, there are ways into finance which will allow you to trouser a good wodge, but you will need to study and get qualifications, and almost certainly need good presentational skills. There are related professions such as actuarial work, but the training takes many years, and you need good qualification. A friend who is an actuary has a first in maths, and a PhD in maths, both from very good universities.

You missed the other bit.

If you come from a wealthy background you can short circuit the process and not be Einstein, I've met a few Tim nice but dims over the years whilst doing due diligence and corporate takeover works.

Best story is when my Mrs was working for an independently wealth guy, she met his son and a mate of his during a fashion show the company were organising. The son was running his fathers hedge fund in New York, which didn't last too long, and his mate had just been sacked for the third time by a London bank. The first two times his family had threatened to withdraw significant funds unless he was reinstated, not sure what happened the third time.

To be fair they were both nice blokes, and were very impressed with the models that were organised, one quote was 'perfect for us, good looking and about as dim as we are' so it's not as if they weren't self aware.

BananaRepublic

I'm surprised, I thought Tim nice but dim went out of fashion with the big bang in the 80's. There is still unfairness, as many jobs have unpaid interns, who learn the ropes, and only the rich can afford to do that. And I have met quite a few public school types who are neither thick nor bright, but advance because of good networking skills. I'm not knocking them, I wish I had the ability to charm the right people.

Pincher

BananaRepublic wrote: »

I'm surprised, I thought Tim nice but dim went out of fashion with the big bang in the 80's. There is still unfairness, as many jobs have unpaid interns, who learn the ropes, and only the rich can afford to do that. And I have met quite a few public school types who are neither thick nor bright, but advance because of good networking skills. I'm not knocking them, I wish I had the ability to charm the right people.

There are plenty of Gordonstoun types who played lots of sports but didn't go in for book learning. They are ideally suited to cruise Marylebone, Mayfair, and hang out at embassies, to pick up funny money earned from god knows what arms deal, fishing monopoly off the Ivory Coast, and just plain piracy. Somebody has to escort the mugs, wine and dine them in Courchevel, and take them where the best grouse shooting are.



Just pray for a storm when they go sailing in the Cayman Islands, so they get blown away in the Bermuda Triangle.