A good number of states don't pay.

I'm guessing you did agric econ from uniben. I actually work on that table dealing with results and transcripts. I can tell you there aren't many 2:1s in that programme, so I assume you're smart enough. NIM/PMP/HSE are pathetically cheap during NYSC. I'm currently doing the PMP, and in as much as I think the tuition is crappy and the knowledge to be gained is infinitesimal, the certificate should come in handy. The year could be a complete waste without one of them. You have nothing but a maximum of 15k to lose. Just do it.

Most painful CV I've ever read.

Wow IB is one of the most competitive fields to break into. My roommate graduated with me last year in a well ranked university. He was one of two first class students in his banking and finance class. Young boy. It's been a year and he's a level 2 CFA candidate with a masters from the London School of Economics. Now, we talk regularly and all we do is lament about how difficult it is to break into the sector, especially in the City where he is, and even here in Africa. You'll find it extrememly difficult outside Nigeria. Down here though, everything is possible, but your case is peculiar because of the age factor. You'll be in the market with people like Ola (the mba vs msc guy up in this forum), and maybe even me . Of course, you can always beat the competition here with enough determination, knowledge (CFA), experience and connections. Note that the CFA will take at least 3 years. My advice will be to enter into a firm that offers a bouquet of services, including IB. How you'll do that is what I don't know, and you'll need the more experienced guys here to spell out your chances. Work your way into any department. In time, you can find yourself having coffee with the overpaid, suicidal IB boys. Difficult, but possible. Cheers

Has anyone made this observation? Finance academics have this sort of hatred for economists. My professors ALWAYS made condescending comments about their colleagues in economics. They make them look like unintelligent people with idealistic ideas about the world; impractical.. Sadly, I've been forced to have that same attitude towards economists too.

deenee: @ sammy, No harm intended, I am just contributing my bit. Just a quick teaser, before we completely derail this thread. Let me create a trajectory for you using the cost vs prize analogy.

Cost- possibility that the entire savings meant for a kid's college fund will be wiped out.

Prize-the commission to be made from a transaction involving the above cited even in the face of information asymmetry and moral hazard


Cost- sale of complex securitised derivative instruments to unsuspecting and unassuming investors.

Prize- taking huge bets on the above cited just to satisfy the hubris of a finance professional.

I could go cite more examples on this analogy.

I still take risks and in fact it is what I do for a living but sometimes it is quite refreshing to challenge the status quo. Who knows, maybe it could bring about a 'disruptive innovation' that will totally change our perception about finance.

@OP, apologies for derailing your thread.

Something consistent about those analogies: the prize seemed to be for the agent only. I guess finance professionals, as agents, need to put more effort into educating the principals about the risk involved in investments. If after painting a clear picture of the possibility of losing the entire college savings, the principal agrees to place the funds in some alternative, high yielding asset, then he's solely to be blamed. His loss will be someone else's blessing in the zero-sum game of financial markets.
About financial modelling. I'll assume that one needs to know the most basic programmes, at least excel, for simple analysis and forecasting. If your role is purely in advisory, the need should be less pronounced. I'm not a big fan of software either, but I can't escape excel.

You make me sound like a teenage African-America defending rap . I am currently studying towards a CFA, so I know not to argue technical matters with one. What I meant by 'myopic' is the fact that the fisherman substituted greed for selfishness, stoked by laziness and indifference. Where I studied (in the West), every tuition seemed to drag us closer to the utilitarian mindset: the greatest good for the greatest number, and greed/ambition/capitalism is the way to achieve that. At what cost? Well, I favour the question 'for what prize?' more. The series of failures in the financial system can be blamed on greed, but also the successes--benefits of which overwhelm the failures. Greed, in business, has a net positive value. The side-effects; recklessness, fraud, systemic failures are the costs we have to bear, but they are always temporary. Yes, group-think, an idea behavioural psychologists have smuggled into Finance.... Fortunately, the field has provided us with great tools to 'bet' against group-think (I would have shorted Facebook shares seconds after the IPO if I could). I'm of the opinion that superior analysis, superior enough, will always override any tendency to group-think. Explains Buffet's wealth. I am very likely to change my ideology after a few years in the field. We all do. I pray, though, that I'll always have that hint of greed, with enough testosterone and capital to take risks. I do agree that Finance (Investment) has been made more complex than it needs to be. It'll be interesting to ask the opinion of 10yr olds, and 80yr olds.

I'm into Finance, albeit early in my career, and I frown at anything slightly downplaying the role of Finance. The anecdote you just provided actually made a stronger case for Finance, and Economics by extension. For the Mexican fisherman, what he lacks is greed. He knows, quite logically, that at the end of any entrepreneurial stint, he'll end up just where he is. The missing consideration, though, is the opportunity cost of his lack of greed-- an essential ingredient in the wealth of nations. Adam Smith's theory asserts that in the course of pursuing his self-interest and greed, we are all better off: more people will have access to better quality fish, more families will make livelihoods of his supply-chain, and governments both home and abroad will derive more revenue from him and provide better infrastructure, his children will be exposed to better education and healthcare, a drought won't throw his family into starvation, and his quality of life, along with many more people, will be better in the long-run, and for more generations. Of course, these assumptions are purely idealistic. The fisherman is only being simple-minded and myopic. Perhaps, if his father had expanded the family business, he'll have a Havard MBA.

With pleasure

I spend a lot of my time in here; lurking if not posting. I'll do a decent job moderating.

Been here for quite a long time. I've watched as Nairaland evolved (and maybe degenerated) along with the society. The forum is finally making the home-run to the one-million mark. The growth has been slow, but it's growth nonetheless. You can share your experiences here; when you joined, etc. Go on and relish the memory of the forum's saner past, and tell us why you think it's not generating as much economic value as it should, compared to it's contemporaries in the US. The numbers should hit 900,000 today. Let's see how long it really takes to get 100,000 members.

The Trinidadians are the finest. Anyone who's actually been to the Caribbean wouldn't dispute that.

Both the Msc and the MBA are good choices. It only depends on exactly what you want: Technical/specialist or business/generalist. Use the NYSC year do discover your true flair. My advice is to work for another two years after nysc, then decide. You might do some real engineering and hate it or you can try business and find out that it's not for you. Hard to know fresh out of school. An MBA could be a grave mistake for many reasons. You should only go into that if you're absolutely sure of what opportunities you're trying to boost, not to create those opportunities at entry-level.

Odds says that you will be posted to a school somewhere in some city/town/village to teach Chemistry and Maths. It is the scariest thing, and it's a profound waste of time. I was lucky (let's just call it luck) to have been posted to a university as an admin staff. Lecturing is unlikely, even if that's what you've been posted to do. I basically carry bundles of files here and there, do menial stuff and make photocopies. EPIC waste of time for someone who had so many tangible opportunities pre-nysc. I'm not quick to despair, so I'm making the best of it, while doing things to ensure that a minute post-nysc is not wasted. I don't fancy the idea of a postgrad before NYSC. You want to be as 'simple and common' as possible. Also, I have a strong feeling you'll become less fixated on a particular industry once you're on ground. I'd like to share some more details, but they're not appropriate for a public forum.

Your answer is pretty clear in there, but I'll introduce another point. How about placing more thought into the NYSC right now, since you want to work down here?. You'll get sufficient time to study the market and decide during that year. I'm in a similar position, and like you, I had high, calculated ideas about what I wanted. I'm a few months into the programme now and my ideas/ambitions are clearer and more realistic, maybe better.

They've started paying here in Edo, for one month.

Baba's Love - Tosinger

http://tosinger.bandcamp.com/album/finally-the-ep

Listening to Tosinger's new song 'baba's love' and feeling it. Check it out and let me know what you think.

http://tosinger.bandcamp.com/album/finally-the-ep

4llerbuntu:



well mr oga who knows the law, you are jumping the gun.

whilst the principal was alive, her properties were not selectively disjointed. she owned them all.

at death, the liabilities go to her estate as a whole, not to parts of it. and until those liabilities are settled, the creditors have a lien on the whole estate as much as will satisfy the debts. what is "net" of what is most disingenious of you to assert and untenable


all this rubbish u keep posting about due diligence shows clearly that you are not a lawyer, at least not in nigeria or any nation of the common wealth. there is a difference between secured credit facilities and unsecured credit facilities, which i presume is what you are averting your mind to in this scenario.

and FYI, an unsecured creditor does not automatically lose his rights upon the death of the debtor, the legal effect of the absence of security is that such a creditor will rank AFTER the secured ones have taken there capital+interest.


secondly, what the estate is worth is NEVER a subject of conjecture, whosoever is a creditor will have to approach the courts of law here to determine legally the debts owed by the deceased, and also how much the value of the estate is worth. after which if other creditors have joined the process, each will prove his ranking in order to be paid.

Then again, the normal procedure in this regard, if actually the deceased was an individual of value with reasonable networth, is the the creditors would have approached the courts immediately to seek for an injunction restraining anybody and their dog involved with the estate of the deceased from dealing in any way whatsoever with any part of it pending the determination of parties rights.

any person who otherwise deals with such an estate unfortunately is bound by the doctrine of caveat emptor and Nemo Dat Quod Non Habet and will obtain no title

so incase u are having this impression u are going to die and leave all creditors hanging, dream on




Futhermore, incase u have not yet cottoned onto that part of the discussion, NO INDIVIDUAL CAN VALIDLY, UNLESS AND UNTIL THE WILL IS EITHER PROVED< OR LETTERS OF ADMIN TAKEN OUT, deal with the estate of the deceased. such transactions have no legal backing and will only result in litigation, and the estate is covered at all times

I'm no lawyer; I'm into Finance. I understand what you're saying with the 'ranking'. That's what happens when a business dies, so it makes sense. In that case, the OP needs to sit back a little.

4llerbuntu:

hunh?  

hunh? hunh hunh?  


hehehehe see this two muguns. he does not have to pay her debts? under which legal system did u hear that one?

for your mind u think abi?




as long as he inherits the estate, he gets both liabilities/assets.    if he does not want the assets, the creditors will simply move against the identified assets wherever they are and in whosoever's custody in which they are.

u think it actually works like that hunh?

Rubbish. If you know how the law works, explain it. We'll all like to learn. Dropping one-liners like some legal sage does not prove that you know anything. In the absence of a clearly-defined will, intuition tells you he can selectively inherit. That he gets the shares does not mean he gets a land too. He has to activate complicated processes to inherit whatever now, unless imposed by law. Individuals are no balance sheets; their assets and liabilities are not inseperable at death. Again, creditors have no claim of assets they failed to take due diligence to secure during the life of the debtor. The stated value of 'estates', in the full sense of the word, should should be net of liabilities anyway. Your $100,000 land is not worth $100,000 to the benefactor or beneficiary if it has fully secured a $70,000 bank loan. That is the default thought-process. I would find anything different shocking.

Why do you have to go through the needle's eye to claim her wealth while effortlessly inheriting her liability? I believe it is your choice to claim her liabilities as much as it is your choice to claim her assets. The creditors should only be entitled to assets that the loans have been collaterized against. Otherwise, they need to count their losses as bad debts and make better lending decisions in the future, i.e ask for collateral. My conclusion: you owe nobody. Initiate the aforementioned processes to lay claims to the non-collaterized assets.

Oh ok. That's interesting to learn. Not all letters are random like 'x'. Thanks

Ok, I do finance not maths, so this can be ridden with errors. Also typed on my phone so ignore the capitalization of 'I'.

I/5 - ((2-2i)/4-3i)) = 0
I/5 = (2-2i)/(4-3i)
I/5(4-3i) = (2-2i)
I(4-3i)/5 = (2-2i)
I(4-3i) = 5 (2-2i)
4i - 3i^2 = 10 - 10i
4i - 3i^2 + 10i = 10
-3i^2 + 14i - 10 = 0
Using almighty formula (-b±*sq root of* b^2-4ac/2a)
-14 ± *sq root of* -14^2 - 4 (-3*-10)/2*-3
-14 ± *sq root of* 196 - 120/-6
-14 ± 8.72 / -6
-14 ± -1.45
I = -14 - 1.45 or I = -14 + 1.45
I = -15.45 or I = -12.55

I doubt this is correct, probably because the quadratic cannot be solved by factorization. But at least this is one attempt. Hopefully the correct answer can be found if you guys correct whatever errors you find.

What did you study, and where?

As a staunch supporter of the CPC, I'll like to congratulate the PDP, Goodluck Jonathan and his supporters--though with a heavy heart. If the elections were indeed free and fair, I wish him the best of tenures, and truly hope that he takes Nigeria where she needs to be. I hope all opposition supports this government and act as effective checks and observers of the new government. May we all enjoy better lives.

If a candidate is independent of any political party, then he should run as an Independent! Like Antanas Mockus of Bogota or the guys that are called the Independents in the UK parliament. There's no such thing as voting the man not the party. Only in the lop-sided thinking of Nigerians.

Natasha,,:

^^^ you are damn right I wonder when people will get to comprehend that it is not the party that matters but the human who is representing the party 

This makes no freaking sense  . Just as a Nigerian ambassador embodies Nigeria, so is a PDP representative a personality in the order of the party. You can at least run a dictionary search on the word representative, or enlighten yourself on the historical idea behind political parties. If a self-proclaimed Democrat runs in the Republican party, will you offer him your vote as a democrat and say you're voting for the man not the party, especially when both ideologies conflict? When did people get so politically idiotic? In as much as he is the president, he still has to fulfil the mandate of the party he represents--the mandate we've all suffered for the past 12 years. Nevertheless, I refuse to give up on Nigeria. Now that I know that there's no salvation to come from the state and the ethnically bigoted, subjective and irrational people, I'll seek other windows. I wish Nigeria goodluck. Now we really need it. When offered three meals of radical change, sincerity of purpose, and goodluck, Nigerians chose goodluck. Enjoy your meal everyday for the next four years. I'm obviously bitter, and truly wish things don't remain the same. I'm just a simple Yoruba boy who cares none about tribe and hates politics. I just want a good country, because I never grew up in one. Nigerians only needed to take a good look around them, then vote. Instead, they looked at accents and attires.

Stupid headline. PDP routs CPC or Jonathan routs Buhari,

The picture you posted of the Nigerian locomotives are our passenger trains. I've been following this along with my skyscrapercity friends from the GE factory in Brazil.

btw, Ezeuche, those trains ARE our passenger trains.

GenBuhari:

This the type we should be aspiring to:

We don't even have to go fancy and electric. I'll be comfortable with this.

delegiwa:

, and you conveniently forgot to remember that the presido was stranded somewhere in East Africa last year.  May the hordes of you will be happy if he dies thru a crash due to an ageing bird right?

Give this guy a break on this one biko.  There is nothing to complain about here.
[/q]

so you will complain when the second and third delivery lands?