A finance professor and a student are walking together discussing the merits of the Efficient Market Hypothesis (EMH) when they come across a $100 bill lying on the ground.
As the student stops to pick it up, the finance professor says, “Don’t bother – if it were really a $100 bill, it wouldn’t be there.”
Modern finance education is almost entirely focused on explaining the markets using the EMH framework. You’ll learn about the various forms of efficiency, about the CAPM and beta, and why you should only invest in passive, low-cost index strategies.
In other words, they will send the message that you’d better start taking accounting courses as a career Plan B, just in case you didn’t get the memo that being a buy side analyst is pointless. After all, stock prices reflect all known information already.
Am I worried I will be replaced by an index fund?
Nope. And neither should you.
Let me explain ….