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The Story of Nathan Rothschild's

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The story of Nathan Rothschild's getting control over British economy in 1815 inspired me to study the art of successful trading on a stock market. At that time Rothschild’s family owned a developed “intelligence gathering network”. It covered all European trading centers and capitals. Its rapidness in providing relevant information gave to Rothschilds competitive advantage in their business “on the international level” ("Nathan Rothschild & the Battle of Waterloo"). Nathan Rothschild used such the network to foresee the outcome of Waterloo battle between France and England for the control over Europe. During this battle, his agents were gathering information on both sides of the conflict. Additional agents were responsible for fast delivery of the information regarding proceeding of the fight to Nathan. So, he was the first who knew about the most possible outcome of this battle, and he decided to take advantage of the authority of his network among traders on the London Stock Exchange. Instead of buying securities of the winning side his employees started to sell them not carrying about the price very much (“Dumping Definition | Investopedia”, "Nathan Rothschild & the Battle of Waterloo"). Since other traders knew nothing about the possible outcome, it resulted in 95 % decrease in the value of these securities. On his secret command dozens of his agents simultaneously bought as many English ones as they could for 5 % of their initial value just before the news about English victory became broadly known and their price sky rocketed ("Nathan Rothschild & the Battle of Waterloo"). Analyzing this example I understood that Nathan’s profit would be much smaller if he did not try to mislead other traders and started buying English securities and selling French ones from the very beginning to the end. It illustrates that return is a reward for risk (Ross, Westerfield, and Jaffe 256–262). Rothschild’s success largely depended on the quality of the battle outcome prediction. The fact that he gathered information on both sides of the conflict illustrates that diversification entails decreasing of risk (Ross, Westerfield, and Jaffe 239). Just like Nathan did, I decided to diversify my career choices.

There are two types of career: career as an entrepreneur and working for hire career. Choosing the entrepreneurial activity field, one needs to take into account that business connections are very important in our country. For instance, a manufacturing firm values having a supplier it can count on more than a short term profit. Since my family’s business is in housing industry, I am considering Real Estate as my first type career field. As for working for hire, since I am good at Mathematics, I would enjoy solving problems related to trading on a stock market. Before commencing my business studies, I decided to get some work experience.

I had the internship as an Office Assistant at Bank of China that lasted for three months in 2007. Before applying to an undergraduate program, I enriched my work experience by the part time work at China Telecom as a Customer Manager that lasted for seven months in 2009. Three years ago, I came to the USA to get Bachelor’s degree.

Inspired by my interest in solving problems related to trading on a stock market, I entered the Undergraduate Program in Finance at California State University in Los Angeles. There, I worked on an investment project and was chosen as a class leader in studying and monitoring diverse investment opportunities to determine which one ensured the best return. Working on this project I observed that stocks with low credit rating and large  had higher expected returns than those with high credit rating and small . After one year of studying in L. A., I transferred to Baruch College in New York to gain more experience in Finance. There, I worked on a project in Fundamentals of Management. My student team researched and analyzed a company in order to provide data on management. My responsibility was to devise concepts that would enhance management and increase production. Once, I participated in a credit analysis of a company, when I was an intern at Bank of China. We paid attention to liquidity, efficiency, profitability, and leverage and aimed to see whether the company as well as the industry to which this company belongs has the potential to grow. During my undergraduate classes, it all came back to me enhancing my understanding of the material. These studies and my work experience form my professional profile.

My contribution to the program I am applying to could be my being a successful graduate. To some extent, it is determined by my current following profile. I have acquired excellent office administration experience, exceptional communication and interpersonal skills, good computer skills in Word, Excel, PowerPoint, Access, Peachtree, QuickBooks and have become familiar with the following major investment computer tools: Reuters 3000 Xtra, Bloomberg Professional. To be a successful graduate I also need to realize the reasons of my applying to this program.

My goal is to get acquainted with different approaches to solving problems related to trading on a stock market. Therefore, I am attracted to this program. Another its attractive feature is that this is a part time program and successful graduate students allowed to work in the Statistical Consulting Service Unit under the Department of Statistics (“Postgraduate Study – STA, CHUK”, “Consulting Service – STA, CUHK”). Besides, the degree this program provides gives opportunity not only to work in the industry, but also to apply to PhD program in Statistics (“Admission Req (STA) – STA, CHUK”). Since Prof. Chan Ngai-hang, Prof. Poon Wai-yin, Dr. Phillip Yam, and Prof. Jianqing Fan have outstanding honor records (“Professor CHAN Ngai-hang, STA, CUHK”, “Professor Poon, W. Y, STA, CUHK”, “Dr. YAM Sheung Chi, STA, CUHK”, “Jianqing Fan”), I would be happy to attend their courses.

Thus, the story of Nathan Rothschild’s getting control over British economy in 1815 inspired me to diversify my career choices. There are two types of career: career as an entrepreneur and working for hire career. My family’s business is in housing industry. Therefore, I am considering Real Estate as my first type career field. As for working for hire, since I am good at Mathematics, I would enjoy solving problems related to trading on a stock market. Before starting my business studies, I got some work experience at Bank of China and China Telecom. Inspired by my interest in solving problems related to trading on a stock market, I choused Finance as my academic major for undergraduate studies. I am applying to this program due to the following reasons: I would like to enjoy solving problems related to trading on a stock market, this is a part time program and successful graduate students allowed to work in the Statistical Consulting Service Unit under the Department of Statistics (“Postgraduate Study – STA, CHUK”, “Consulting Service – STA, CUHK”), the degree this program provides gives opportunity not only to work in the industry, but also to apply to PhD program in Statistics (“Admission Req (STA) – STA, CHUK”), instructors have outstanding honor records. Since I have the appropriate professional profile and my choice of the program is justified, I have a good chance to be a successful graduate.

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