In my last year of anesthesia residency, an attending told the graduating class “You’re just beginning. We hope we’ve taught you enough so that you won’t kill anyone.”
A surgical friend of mine said that he was very good technically his first year in practice. It wasn’t till about five years later that he had evolved into a good surgeon.
From “No One Would Listen” by Harry Markopolos -the financial fraud investigator and forensic accountant the exposed the corruption and ineptitude of the SEC.
“Although I don’t dislike business schools, I believe half of what they teach students will be obsolete within five years and the other half is just outright false. Generally, they teach formulas that no one uses, case studies that no longer apply in the real world, and concepts that are just going to get people into trouble if they try to apply them. These formulas are an attempt to model the financial world in a simplified form, but they can’t possibly take into account the extraordinary complexity of the markets. It’s important to know these formulas, though; once you’ve mastered them you can begin to make the necessary adjustments for the real world.”