What is better for investing in stock market?

A major degree in business or economics? Furthermore, I am thinking about going to a university that gives out a degree in finances and economics. What do you think will be best for investing in the stock market? I think economics because Benjamin Graham and Warren Buffett have their Master's in economics, however, they both have a strong knowledge of business. So now I am unsure what is best... :(

Public Comments

1. I think going to college and majoring in something because it prepares you to invest in the stock market is disgusting. You get to go to college and study the pearls of mankind's search for understanding his environment and himself and to create beauty and you want to prepare for "Should I buy MSFT?". Your whole earlier schooling was to give you the grammar to participate in the conversation of man which doesn't take place in meaningful ways on the exchange floor. Go to college and read Cervantes in Spanish or learn about the Central Limit Theorem or quantum mechanics or DNA or maybe all four and worry about the stock market later.

2. Many of the great investors/speculators had no formal education at all. Think mathematics, statistics, economics, and accounting. They will all be helpful but none are a guarantee to success.

3. I would suggest Economics. You have to learn more when you come out of university. Please read the following:

Books of Peter Lynch, "One up on Wall street" ; "Beating the street"; "Learn to earn".

or the Annual speeches of Warren Buffett of Berkshire Hathaway on the company's website.

http://www.berkshirehathaway.com/letters/letters.html

You don't need to go to any university to read those two sources.They will start you with the right basics of investing and you can add your economics knowledge also.

4. Don't rely on either to get the education you need for investing. Pursue this on your own.

An introductory book like _Stock Markets for Dummies_ is a good place to start. This will give you a basic explanation of most things there are to know about the mechanics of stock investing including useful websites to surf.

Investors Business Daily (IBD) is a solid daily resource (and its complement, www.investors.com ). It's a better newspaper than the Wall Street Journal and it is built around a particular approach to trading. You could read _How to Make Money in Stocks_ by William O'Neil too--he's the founder of IBD.

Search your local library for other books on stock investing. Try to absorb as much knowledge and understanding as you can.

After you have extensively researched and gained a solid foundation/education then look to open a brokerage account and paper trade--this is trading with play money before you put real capital at risk. You should do extensively before you eventually place your first trade live. Your early live trades should be with a very small position size. Only increase position size when you have done well to limit losses when the market has turned against you.

5. No university degree will fully prepare you for trading and investing in the stock market but being a successful trader is as much about understanding psychology as the mechanics of investing.

I know that will sound like rubbish, but try virtual trading first to see what I am talking about.