As I said in the Fixed Income class, when you are in finance, "it's always something." It was a stock market crash in 1987 and 2000. Interest rates were 15-20% in the late early 1980's. There were numerous developing market crises in the 80's and 90's. Today it is the subprime mortgage market crisis carrying over to the credit markets in total.
As each of you thinks about your 20, 30, or 40 finance year careers, what could be the issues/opportunities of tomorrow? Another stock market crash? The dollar no longer being the bellwether currency of the world? Rising inflation as cheap labor is used up in China, India, etc. and as world demands for commodities grow geometrically. Aging baby boomers "eating up their stock investments to live on", the associated federal government deficit to fund Medicare/Medicaid and Social Security, etc.
What else might there be? How will the role of finance need to change to meet these challenges? Will we change from forecasters and analysts to risk managers? How can you take what you've learned at Krannert to help you deal with these issues? Most importantly, how can you turn them into a competitive opportunity for your firm and your career?
-Roger Stewart
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