Here is a very insightful piece about the real value of a Harvard MBA versus this degree being a proxy for ability.
Jose Ferreira (Harvard MBA grad) makes the case that rather than Coca-Cola
having the most valuable brand, that the top colleges have owned it for
decades. And that brand may be very much at risk.
In my book Lucky andGood: Risk, Decisions and Bets for Investors, Traders and Entrepreneurs, I
make the argument that one needs to separate the “Pride-Of-Ownership Premium”
from the underlying future cash flow.
In the case of an Ivy League education, there is little
doubt that one pays more for a degree than at the local college. And in fact the education may be better. But how much better? If the education is only 20% better but the
cost is 150% more, then the difference should be attributed to the “Pride-Of-Ownership Premium.”
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