FinanceDude
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Aug 3, 2006
- Messages
- 12,483
I ran into an old classmate of mine from business school. He reminded me of a discussion we had with one of our old profs in a class called money and capital markets that involved him. The background on him is his grandfather started one of the paper mills in central Wisconsin, and sold out to a big outfit for huge money in the 70's, so he is a bit of a trust fund baby:
Dr. Colclough: Then there is an instrument called negotiable CD's, which are available to folks who have $100,000 or more to invest. You can negotiate the rate with the bank on a competitive basis. Yes Mike?
Mike: Can you tell me which banks are willing to do this in Wisconsin?
Dr. Colclough: Well, it doesn't matter, since none of you are in a position to take advantage of a negotiable CD.......
Mike: Dr. Colclough, with all due respect, SPEAK FOR YOURSELF!!!
Laughter and chaos ensued, the prof turned red, etc. Turns out Mike had about $500,000 back then his grandpa left him in a trust he got when he turned 18........
Who says business schools are boring??
Dr. Colclough: Then there is an instrument called negotiable CD's, which are available to folks who have $100,000 or more to invest. You can negotiate the rate with the bank on a competitive basis. Yes Mike?
Mike: Can you tell me which banks are willing to do this in Wisconsin?
Dr. Colclough: Well, it doesn't matter, since none of you are in a position to take advantage of a negotiable CD.......
Mike: Dr. Colclough, with all due respect, SPEAK FOR YOURSELF!!!
Laughter and chaos ensued, the prof turned red, etc. Turns out Mike had about $500,000 back then his grandpa left him in a trust he got when he turned 18........
Who says business schools are boring??