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/biz/ - Business & Finance

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1510839 No.1510839 [Reply] [Original]

I don't know how to proceed ;(
Time has come to ask the /biz/nessman for advice:

All I want is an interesting job in in finance with long-term maximization of income potential. However, I don’t know how realistic this is, given my current situation. Country is Germany.

After graduating high school, I spent 2 years in the military of which 9 months were compulsory at the time.
Then I went to one of Germany’s top target schools for IB & consulting but after four years I dropped out without a degree, because I failed some math classes. While there, I launched two startups which looked like they required heavy math but actually just needed good analytic capabilities (were good for CV but didn’t make any money). My grades were literally the worst due to not studying enough and heavy sleep disorder but I was still able to do two good internships at big banks. I also did a semester abroad in Asia where my grades were good.
After dropping out I transferred to a shit tier university that recognized at least some of my credit points because I didn’t want to start all over again. However, I now regret transferring credits since my Bachelor GPA will only be 2.4 in the German system which is close to the average student (probably 2.8-3.0 in US system).
I also come from a relatively poor family but my dad makes just enough money so that I don’t get any government assistance or need-based scholarships. However, I invested the money I saved from the military (€8k) first in precious metals & stocks and later in successive waves of cryptocurrencies (LTC, DOGE, MAID, ETH, XMR). So while I have around €30k in student debt I also have €166k is liquid assets. I likely can’t repeat this performance, but the money gives me some freedom to operate for the first time in my life.

>> No.1510841

Most of the people from my old university have already finished their Master’s degree (some at Harvard, MIT, many Mannheim) and are in Ph.D. programs or work at Tier 1 IBs and consultancies and I feel very inferior and envy them since most of them are younger than me and I at 28 will not even complete a shitty Bachelor’s degree till next year.

So what should I do now?

1. Start working in finance? (Likely will not be a good position/institution due to shit degree, career potential might also be limited.)

2. Do Master’s degree? (Probably not get into a great program. Many German universities mainly select by bachelor grade. GMAT is almost worthless here. I might prepare long to get a high GMAT score and go study abroad, but this will probably be expensive. I know I can't get in any of the insane tier programs listed above, I just would want in a good solid program to be on the radar)

3. ???

4. Settle for mediocracy?

>> No.1510846

You should probably use a different pic next time. When I saw the frog I assumed whatever you had to say wasn't important or serious, and I'm sure most people that can help you will think the same.

>> No.1510992

Is maths even fucking needed in commerce? Complex maths that is.

>> No.1511017

>>1510839
> later in successive waves of cryptocurrencies (LTC, DOGE, MAID, ETH, XMR)


Im curious how your forays in Cryploland turned out. I dont hold shitcoins, i only trade them. I just hold BTC.. Making good profits so far, havent had my ass destroyed yet like 40BTC guy

>> No.1511020

>>1510839
>Apply for job in finance
>Show proof of turning 8k into 166k
>Fucking sell yourself
>"Imagine If I had access to 80 million..."

>> No.1511038

>>1511020
finance dudes are very wary of people who can turn 8k into 100k.. they want YES-men. Not rising Warren Buffetts

>> No.1511055

>>1511038
citation needed.

>> No.1511621

>>1511038
>>1511020
>finance dudes are very wary of people who can turn 8k into 100k.. they want YES-men. Not rising Warren Buffetts
This.
Most people who publicly claim such returns are full of shit.
The second thing is that I had to take huge risks to get these returns, and it's also a young man's game. You can't use this strategy if you are already mid 30's or have a family.
While returns were big (46% p.a. for eight years on average) , I suffered long periods of drawdowns and times where nothing happened.
Finally, such strategies often don't scale very well, since the specific markets can not be played with XX million at a time (e.g. most Altcoins, silver coins).

>> No.1511625

Just like the Sims, go on the computer and select the business career track, you will want to get a mirror to practice your speeches and start getting a lot of friends, 2-3 should suffice for the beginning.

>> No.1511626
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1511626

>>1511017
>Im curious how your forays in Cryploland turned out.
I observed Bitcoin almost from the very beginning but I thought that at the end it wouldn't be worth anything since people just could start infinitely many of their own coins. However, this turned out to be wrong because of Bitcoins strong network effects.

In 2013 when Bitcoin rose big time, I thought that Litecoin (which was the most serious Altcoin at that time) might do the same but nothing had yet happened to the Litecoin price. Since I didn't have any Bitcoin it took me 5 days to get my money into btc-e. I sent them around 6500€ and by the time it got there (25.11.2013) LTC was in full swing and I had to buy in at around 10 $/LTC. Later I sold most of this at around 25-30$ when LTC went down and put a lot of it into Dogecoin which I bought for around 50 satoshi. Then Dogecoin mooned to 267 satoshis, but I only sold at later pumps between 100 and 50 satoshi.

I decided to do some active Altcoin trading during the Altcoin boom this spring which again turned out well, made good returns on most of my picks (e.g. MAID. ETH) and only lost money in rare cases (EXP). My basic strategy was to invest like Warren Buffet and then switch into swing trading mode once a coin got pumped.
However, all of this was taking too much of my time and I could not study anymore and it probably only worked well due to the unique upward bias of the market. This made me stop active trading and I put all my coins in an equally weighted portfolio of MAID, BTC, FCT, XMR and Agoras (outlier bet). When XMR mooned like crazy I cut my position in half at 0.0157, 0.0211 and 0.0207.
Now I have shifted the portfolio to 40% BTC since it might rise again and last time BTC rose it took Altcoins quite some time to catch up.

>> No.1512783

>>1511625
Well said

>> No.1513821
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1513821

>>1511625
I guess this is all wisdom /biz/ has to offer.

>> No.1513935

>>1511626
Nice !

>> No.1515214
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1515214

>>1510839
This is not what you should do: 4.

>> No.1515236

>>1511626
these are some good trades dude. you did well growing your BTC. Its not very easy to do this since some people get carried away after a good profit and they end up getting rek'd later down the line.