MBA’s on Wall Street = Wall Street Crisis?

I did not see this coming, but this is a fascinating study by a banking analyst that has connected the dots between Harvard MBA’s and their choice of Wall Street financial careers.

Ray Soifer, a top-rated banking analyst based in Arizona, has an explanation for the crisis gripping the stock market: Blame Harvard! Soifer has long studied the proportion of Harvard MBAs who pursue careers in finance; when more than 3 in 10 head for Wall Street, it’s time for investors to sell, he says. The implication: Harvard MBAs, in aggregate, subtract value. Alas, his study comes out once a year, so it’s no use to short-term investors. But we’d love to know what Soifer would find if he studied the correlation of Harvard MBAs heading to the Valley with venture-capital returns. The results would be edifying — especially for investors in Facebook, whose Harvard dropout CEO, Mark Zuckerberg, is currently guided by COO Sheryl Sandberg, Harvard Business School ‘95

If this is true it is a hard hit to the the ability of MBA’s to actually create value in the marketplace.

What do you think?

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