Riz’s Rotman Blog

I’ve been put in touch with my first year buddies and I’ve answered some questions that might be of value to others:

• You’ll get your course info after the taste of the MBA. They will provide you full student access to R-world which has a section with your schedule.
• I’m a member of: The Management Consulting Association, Engineers in Management, New Ventures, and Media and Entertainment Association. I decided mainly based on what my possible careers could involve. They’ll provide you an opportunity after the Taste of the MBA to learn more about the clubs. I’d say it’s better to choose more clubs rather than less; that being said, the clubs are quite expensive in some cases so don’t sign up for everything.

I know it isn’t much but I felt that these were time sensitive for the students just starting their MBA at Rotman. As I answer more questions I’ll post my responses here.

Came across a post (original source Bloomberg) talking about the leagalization of mark-to-make-believe:

Then there’s Level 3. Under Statement 157, this means fair value is measured using “unobservable inputs.” While companies can’t actually see the changes in the fair values of their assets and liabilities, they’re allowed to book them through earnings anyway, based on their own subjective assumptions. Call this mark-to-make-believe.

Yay to legalized Enron. I just marked-to-market my gym shoes since the stinkyness level indicates their value has increased. My net worth is now somewhere in the $2 trillion range. That’s a huge net income this year, luckily taxes are only on realized gains.

I’m currently reading the Art of the start which has a lot of great quotes which I’d like to share:

I never thought of writing for reputation and honor. What I have in my heart must come out; that is the reason why I compose.

- Ludwig van Beethoven

Innovation often originates outside existing organizations, in part because successful organizations acquire a commitment to the status quo and resistance to ideas that might change it.

- Nathan Rosenberg

(My personal Favorite)

Allow me to introduce myself. My name is Wile E. Coyote… Genius. I am not selling anything, nor am I working my way through college, so let’s get down to cases. You are a rabbit, and I am going to eat you for supper. Now don’t try to get away! I am more muscular, more cunning, faster, and larger than you are… and I’m a genius. Why, you could hardly pass the entrance examinations to kindergarten. So, I’ll give you the customary two minutes to say your prayers.

 - The Bugs Bunny/Road Runner Movie (1979)

To his dog, every man is Napoleon; hence the constant popularity of dogs.

- Aldous Huxley

There are very few people who don’t become more interesting when they stop talking. (Man… I have to shut up more)

- Mary Lowry

In preparing for battle I have always found that plans are useless, but planning is indispensable.

- Dwight D. Eisenhower

You can’t build a reputation on what you’re going to do.

- Henry Ford

Thank you for sending me a copy of your book. I’ll waste no time reading it.

-Moses Hadas

Being in the army is like being in the  Boy Scouts, except that the Boy Scouts have adult supervision.

- Blake Clark

For certain people, after fifty, litigation takes the place of sex.

- Gore Vidal

It’s not what you know or who you know, but who knows you.

- Susan RoAne

I have made this [letter] longer, because I have not had the time to make it shorter.

- Blaise Pascal

Nature, which gave us two eyes to see and two ears to hear, has given us but one tongue to speak. (I really need to shut up more)

- Jonathan Swift

The true measure of a man is how he treats someone who can do him absolutely no good.

- Samuel Johnson

Books are good enough in their own way, but they are mighty bloodless substitute for for living.

- Robert Louis Stevenson

Great quotes. Great book. A lot of the content is taught in more formal and riggerous terms at Rotman. Some of the advice is counter to what we learned in b-school simply because what you learn in b-school applies mainly to big biz.  Finally, some of the advice hasn’t come up (yet) in b-school. I recommend this book–it’s a fun read and has great stories throughout.

There are a few things that are very scary to MBA students in their last year… The scariest is probably economic downturn which will tighten company expenditures and make them less likely to hire new grads. Here’s the S&P500 (from finance.google.com):

It gets worse when you zoom in to recent data:

Of course just looking at a chart isn’t enough. You need things like a housing crash, company profits down across the board, confused regulators changing their minds, and trading stoppages and the like. Yes this is state-side but we’re in Canada and the TSX is doing the same thing… Might be time to run for the hills and make signs like “will 5-forces for food.”*

*Ok, yeah, I’m probably jumping the gun here. We have a long way to go before all this hits the fan but we’re taking some good first steps

Update: I found this detailed and compelling argument about why housing is pooched in the states. In addition there’s a great graph of inflation adjusted housing prices from the NY Times. Does this really look sustainable if income isn’t increasing?