Morgan-Brown, Carol N. SS# -------9
The Graduate Center Prospective Student, Fall 2013
My Personal Statement / Psuedo or ‘flak’ Anthology
Dear Application Committee,
My current slogan is “Provocation is Darwinian.” Like the chorus of the song “Survivor” by Destiny’s Child states: “I'm a survivor (What?) I'm not goin' give up (What?) I'm not goin' stop (What?) …Keep on survivin' (What?)”
Introductions….
Thank you in advance for considering my application that briefly highlights my credentials and capabilities. My intent for undertaking graduate work via the Graduate Center of City University of New York (CUNY) for the Financial Economics program is to continue researching analytical approaches to developing financial products within the "Financial Capital" of the world, to do the research with the support of a pocket friendly academic institution, as well as an institution that has world renowned faculty such as “Michio Kaku.” All so that my proprietary research can be published, sold or contracted out to banks, insurance companies, hedge funds, government agencies and of course universities. Finally, I am a former student of City College of New York and Brooklyn College and my estranged spouse is a graduate from City College with a Master of Arts degree in International Affairs /Relations.
My past education & work experience....
I graduated from the Weatherhead School of Management of Case Western Reserve University in 1995 with a degree in Management. I received an undergraduate scholarship from Minority Scholars Education Program (MSEP) and the Helen Covington Ellen award to help finance my education. I was a member of the Chamber orchestra; playing the violin and a member of the Flag team supporting the football team. Ten years later, I attended Polytechnic University’s Financial Engineering program where I received grants, loans and a scholarship from the University for being a math or science teacher. There I became a member of the International Association of Financial Engineers (IAFE).
Below is my resume, but in a nutshell my past work experiences have been diverse. I was an Adjunct Math Professor for UCC, Cranford, NJ with a wage rate of $80.00 per hour. I was a banker: two summers in the loan documentation department of COB, a few months in the mail processing department of KB and 18 months in the accounting department of FTB. I enjoyed social networking via networking receptions, night life venues via the African American Society of Case Western Reserve University (1991-1995) and the Urban Bankers Association & Coalition of Cleveland Ohio and New York City (1996-1999).
Next, I was a Financial Analyst for Ogilvy & Mather (1997-1998) in the Worldwide Division. The Division was a group of inspiring people. I enjoyed working there and regret resigning. The company was very sales oriented and I miss the cleverness of the Advertising industry; mainly because I just mastered such concepts as risk, control, constraints and restrictions.
For a short time I tried Insurance sales but was immature with the concept of business development. I passed the Health & Life exam for New York State but decided to become a Math Teacher for New York City’s Department of Education. I was a Math Teacher for six (6) years (1999-2005), then a Math coach for two (2) years (2005-2007) making a wage of $39.00 per hour. My salary in 1999 was $31K and I left the NYC DOE with a base salary of $58K. If the math scores increased I had the option of receiving a $10K bonus. The $10K bonus was a part of the United Federation of Teacher’s (UFT) contract for Math Coaches or Lead Teachers. Unfortunately, I wasn’t obsequious enough with my Principal to receive my bonus because the test scores for Ebbets Field Middle School; a new school broken off from the historic Jackie Robinson K-8 School of Brooklyn, New York rose by 12% for 6th grade math students that went to 7th grade. Instead new test prep books were purchased; darn.
Throughout my tenure with the NYC DOE, I have received two out of four grants. They are: the Center for Environmental Research & Conservation (CERC) fellowship for $3000 via the Earth Institute of Columbia University & its Summer Ecosystem Experience for Graduates (SEE-G) and the Teachers of Tomorrow grant for $200. The Michael Jordon Foundation for approximately $1500 and the Japan Fulbright Memorial Fund Teacher Program for approximately $10,000, I didn’t get approved for. I coached a 6th grade math team to compete on Public Television. I attended various professional workshops, seminars and excursions. The Marilyn Burns Workshop: “Thinking Algebra” at Stuyvesant High School Spring (2004) was outstanding, and so were the Geometer Sketchpad seminar, various Texas Instruments presentations, Smart Board workshops, and a MatLab workshop. Finally, I studied at Stony Brook University via the College Board to teach calculus to urban students, I went to Space Camp for Teachers in Huntsvillle, Alabama & attended a Summer Ecosystem Experience via Columbia University in Punta Cana, Dominican Republic.
CAROL N. MORGAN-BROWN
PO Box 111427 Irvington, New Jersey 07111-0427 Cell: (973) 289-4698
Email: carolmorganbrown@hotmail.com or thickskins@msn.com
Education: NEW YORK UNIVERSITY, Brooklyn, New York
Polytechnic Institute (formerly Polytechnic University of NY)
Awarded a Master of Science in Financial Risk Engineering, January 2009
Concentration: Capital Markets, GPA 4.0 (fall 2007), GPA 3.75 (last semester) GPA 3.32 (degree).
CASE WESTERN RESERVE UNIVERSITY, Cleveland, Ohio
Weatherhead School of Management
Awarded a Bachelor of Science in Management, May 1995
Concentration: Banking, Finance and Economics.
Publications: ”What is the Future of Risk Management?” The Vindicator Magazine. Cleveland State University Press.
March 2010. Vol. 40 p. 22.
Experience: CAROL’S GREEN CHIP INDEX Irvington, New Jersey
present Manager / Analyst
<!--[if !supportLists]-->· <!--[endif]-->Compile qualitative and quantitative data about alternative, renewable and or clean energy companies
<!--[if !supportLists]-->· <!--[endif]-->Perform quantitative analysis to determine index composition and value of 25 firms
<!--[if !supportLists]-->· <!--[endif]-->Manage the website of http://carolsgreenchipindex.yolasite.com.
MASSEY, QUICK & CO., LLC Morristown, New Jersey
fall 2008 Quantitative Analyst Intern
<!--[if !supportLists]-->· <!--[endif]-->Collected performance data from various private and public fund managers
<!--[if !supportLists]-->· <!--[endif]-->Performed monthly quantitative analysis
<!--[if !supportLists]-->· <!--[endif]-->Generated Funds of Funds reports for sale representatives, senior management, partners and clients.
NATIONAL SECURITIES, Wall Street Headquarters New York, New York
summer 2008 Finance Intern (Sales and Trading Division)
<!--[if !supportLists]-->· <!--[endif]-->Generated an added value of $1,000,000 to the firm via stockbroker recruitment
<!--[if !supportLists]-->· <!--[endif]-->Composed a theoretical alternative energy index of 30 companies for the Chief Operating Officer
<!--[if !supportLists]-->· <!--[endif]-->Created 4 investment analysis reports for stockbrokers and senior management
<!--[if !supportLists]-->· <!--[endif]-->Performed business development activities such as cold calling and attending seminars
<!--[if !supportLists]-->· <!--[endif]-->Attended daily market summary meetings conducted by Chief Market Strategist.
2005 - 2007 CITY OF NEW YORK, Department of Education New York, New York
Math Coach / Curriculum Specialist (Ebbets Field Middle School)
<!--[if !supportLists]-->· <!--[endif]-->Provided curriculum planning and math content support to fellow educators
<!--[if !supportLists]-->· <!--[endif]-->Developed systems to assist pedagogues ease the learning of mathematics by students
<!--[if !supportLists]-->· <!--[endif]--> Managed a team of 15 math teachers and over 500 students to raise state math test scores by 12%
over a two year period at Ebbets Field Middle School
<!--[if !supportLists]-->· <!--[endif]--> Coached a 6th grade math team to compete on TV against various Brooklyn Middle schools, at
regional “24” Game competitions and to compete for in house “Pi / 3.14” Game competitions.
1999 - 2005 Math Teacher
<!--[if !supportLists]-->· <!--[endif]-->Delivered daily mathematical presentations to adolescents and assessed their understanding on a regular
basis
<!--[if !supportLists]-->· <!--[endif]-->Facilitated student math projects that exhibited New York State’s Core Learning Standards.
1997 - 1998 OGILVY & MATHER, Worldwide Headquarters New York, New York
Financial Analyst (Worldwide Clients Division)
<!--[if !supportLists]-->· <!--[endif]-->Produced monthly reports with Hyperion Enterprise, and Comshare FDC consolidation
software package’s for the world-wide CFO and senior partners
<!--[if !supportLists]-->· <!--[endif]-->Originated quarterly costs and fee analysis of large corporate accounts valuing over 500 million dollars.
1996 - 1997 FIFTH THIRD BANK, Regional Headquarters Cleveland, Ohio
Financial Analyst (Finance Department)
<!--[if !supportLists]-->· <!--[endif]-->Created Profit & Loss analysis and Growth & Variance calculations for Board of
Directors for the Cleveland Affiliate and senior management of Fifth Third Bank
<!--[if !supportLists]-->· <!--[endif]-->Generated weekly and quarterly reports for the Federal Reserve Bank of
Cleveland, Ohio on behalf of Fifth Third Bank
My published writings….
I have had the privilege of working with Victor Marakov a member of the Swiss Basel Committee. He was an instructor of one of my Risk Management classes during the fall of 2008 at Polytechnic Institute of New York University (FKA Polytechnic University of New York). The class was so timely. The financial markets were collapsing; the Dow Jones dropped 900 points on September 29, 2008 and we eventually elected a new president-an African American. After graduation, Professor Marakov offered me a job as a Risk Analyst for his Enterprise Risk Management Department of Metlife. But due to my insecurity, I refused the job offer.
Below is my one page risk management class assignment that was later published in “The Vindicator” Magazine of Cleveland State University and submitted to Dr.Charles Tapiero which inspired him to sponsor an all day CAPCO seminar called: “The future of Risk Management” on July 17, 2011 at Polytechnic Institute of NYU in Brooklyn, NY.
What is the future of Risk Management?
What is the future for risk management and why are risk managers worried about their jobs? Is VaR still useful despite some of its limitation and regulatory requirements? These are the questions that have been plaguing risk managers for at least eight years despite the recent financial crisis; which was due to a breakdown of risk management.
A breakdown of risk management occurred during the financial crisis of 2008 because investment houses and investors purchased various types of exotic derivatives securities and risk managers did not provide enough risk capital to hedge against the risk exposure because of rating agencies and because of “mark to market” policies. Risk managers had to deal with Basel II, the FED, and internal management to create a business model for trading, yet and eventually, all the regulations and models were not adequate because the entire planet faced a financial meltdown. Lastly, the creation and or the recent awareness by investors of interest rate derivatives such as credit default swaps, made it impossible for risk managers to provide enough risk capital for the firm.
Risk capital requirements obtained via VaR proved to be unsound during the financial crisis of 2008; even with the qualitative judgment of risk managers; which is commonly included in the business model for trading. Most likely, the risk metric that was used such as VaR is based on the assumption that returns are normally distributed and not skewed. If returns are skewed or even “…leptokurtotic (that is, they display fatter tails than the normal distribution.) Risk managers often try to proxy fat tails… with stress testing.” Moreover, the capital requirements the stress tests computed were too extreme for most trading business models. [1]
Externally, risk capital requirements come from Basel I and II; a committee of international central bankers that met in Basel, Switzerland, first got together in 1988 to create capital requirements that financial regulators could use. One of BIS’s proposal of the year 2000 was to have a 20% risk weight for AAA to AA- corporate bonds, a 50% risk weight for A+ to A- corporate bonds, 100% for BBB+ to BB- , 150% for bonds below B- and for unrated bonds or just regular loans, a risk weight of 100%. This means that if a bank issues a loan to AAA to AA- rated corporation, the bank would have to have 20% of 8% capital or reserves on hand for each loan. However, over the last eight years the requirements have change and with the recent financial crisis will continue to be amended.
Critics of VaR also play a key role in determining the fate of risk management. Specifically, David Rowe states that using VaR and or the “Gaussian-based statistical techniques” such as correlation, puts unfair and disproportionate weight on extreme data points or outliers. Thus if there are extreme return changes due to extreme market conditions then correlation metrics are unuseful. [2]
Richard Hoppe of Intellitrade suggests that the current techniques are inadequate for today’s risk management problems and new ideas should be strongly considered. [3]
So what is the future of risk management? Well despite the forced resigning of Michael Shaw of Fannie Mae, which illustrates the corporate politics that risk managers have to deal with, risk management is actually on the rise. Risk Analyst positions have increased in the last 5 years, enrollment for financial engineering degrees at schools has increased, and there are several certifications and designations such as Chartered Financial Analyst (CFA) and Financial Risk Manager (FRM) requiring the need for qualified and uniform risk management skills. Moreover, with any type of uniform management policy, there will always be room for improvement. History has shown us that just like the electing of the democratic nominee Franklin D. Roosevelt and his New Deal of the 1930’s, today we have experienced something similar such as the electing of Barak Obama, and his stepchild, TARP. Moreover, if history is repeating itself and we are headed for a great depression, then nothing really matters and new policies will be adapted for the financial crisis of the time.
References:
Batlin, Carl and Barry Schachter. “The 10 challenges left to tackle,” Risk: April 2000.
Rowe, David M. “In Defense of VaR,” Risk Professional, Issue 1/ 6 September 1999.
Hoppe, Richard. ”It’s time we buried value-at-risk,” Risk Professional, Issue 1/ 5 July/August 1999.
My writing pieces (samples only)….
During the spring of 2009 I took a class called Supply Chain Management. Most class assignments were to write briefs about articles focused on supply chain management. Below are the writing pieces.
The Perspective of the Outsourcer: A Supply Chain Management Case
In the April 3, 2006 Harvard Business School case study, “Flextronics International, Ltd” by Robert S. Huckman and Gary P. Pisano, the authors highlight the problems that manufacturing outsourcers face. Many manufacturing outsourcers such as providers of Electronic Manufacturing Services (EMS) are manufacturers for Original electronic Manufacturers or OEM’s. Specifically, an OEM such as a typical Silicon Valley firm will begin the manufacturing process and then the EMS like Flextronics would finish the process or only manufacture a few components such as a printed circuit boarder (PCB). Next it would send the product back to the OEM where the OEM would finish the manufacturing and or packaging.
The main problem that Flextronics faced during the early 1990’s was the slow down of orders from Silicon Valley OEM’s. Thus to survive, Flextronics expanded its services, became a private then a publicly traded company, and acquired more businesses. Although acquiring more businesses and raising capital are important for survival, the designing of a new product and then the issues related to manufacturing that new product is a pertinent supply chain management issue.
The creation of a new cell phone by Flextronics had a lot issues to address; mainly issues related to IP’s or Intellectual Property. Flextronics created four cell phone prototypes where Phones 1 & 3 uses the Global System for Mobile or GSM cell phone data transmission and management system, Phone 4 which use the Code Division Multiple Access or CDMA cell phone data transmission and management system, and Phone 2 which was similar to Phone 3. Since the GSM included about 15 different firm’s IP’s, it was hard for Flextronics to sell Phones 1 & 3. Fortunately, Qualcomm used CDMA which was in Flextronics Phone 4 and a deal was struck…
Another phase of Supply management is determining the requirements. In the case of Phone 4, the requirements were CMDA and although the requirements for Phones 1 & 3 were GSM suppliers, Qualcomm had a chip with CDMA that could be put in the Phones 1 & 3.
Finally pricing or “…the development of prices that appropriately reward the supplier for its efforts…,” was critical in making the new product come to life. [1]
For instance, Flextronics sold Phone 4 or Flextronics contracted to make Phone 4 for a current customer, which was a cost savings for that customer of about 20% to 30% less than what it cost that customer to make Phone 4 “in-house.” [2]
Although their were probably more supply chain management issues related to the manufacturing of Phone 4 and any other products that Flextronics manufactured, the authors did not clearly state what those issues were. The authors mostly focused on the transformation of Flextronics being an EMS and into an ODM via its designs of four cell phones.
Alternative Solutions
Based on my interpretation of the case study, some of Flextronics problems could have been resolved by reaching out to diversity OEMs. Instead of taking years to develop new products, which is still critical for the survival of an any manufacturing company, Flextronics could have created new partnerships with minority business owners or Green or Renewable energy distributors and packaging services to receive legislative tax incentives. Or, Flextronics could began to build relationships with Supply Chain Pollution Avoidance (SCPA) firms to obtain cost saving benefits and or to avoid surcharges by the government. Since it was an international company, and there were many foreign governments involved, I am sure some of my alternative solutions were used by Flextronics.
Final Thoughts
Again, I would have liked more details about the supply chain aspects of Flextronics orders as an EMS provider such as names of their customers of the Silicon Valley companies and what problems occurred. The authors do mention some of their cell phone clients such as Motorola, Nokia and Sony-Ericsson, but the authors mostly insinuate that if there were problems, Flextronics usually solved those problems via an acquisition or by designing a new product.
References:
1) Burt, David, D. Dobler, S. Starling. World Class Supply Chain Management: The Key to Supply Chain Management. 7th Edition. Boston. 2003 McGraw-Hill Education. Page 16.
2) Huckman Robert S., Gary P. Pisano. “Flextronics International, Ltd” Harvard Business School, Product 9-604-063, Boston, Apr. 2006, Harvard Business School Publishing Corporation
3) www.wikipedia.com no
<!--[endif]-->
<!--[endif]-->
Also, I write comments on various blogs, facebook and twitter. My locations are Facebook: Carol Morgan-Brown and Twitter: CarolMB.
My preparation….
My preparation for this specialization is to continue working with the mathematics and science community so that I can be contemporarily confident in the differences between input data and variables. I will create working relationships or reconnect with research labs such as the Center for Environment Research (CERC) of Columbia University and create working relationships with lawmakers such as Andrew Cuomo or Cory Booker. Finally, I will continue to use and master various programming languages, software packages, IDE’s and databases such as, C++, VBA, R or (GNU S), Yield book, FINCAD, Matlab, Hyperion Oracle, MS Access, MS Excel, SPSS, S-Plus, Win 32 and R environment, CIS index, ERIC, GALE, EBSCO-host, Google and Moody’s respectively. Also, I will learn to use other writing formats such as the American Psychological Association (A.P.A.), as opposed to using the MLA style; my favorite.
My research idea….
The specific research that I have in mind is consistent with the studies of a financial engineering student. Financial Engineers determine metrics, create indices and engender value via quantitative models and I am working on trying to articulate "sustainability" via modeling a small set of publicly traded green or clean energy producers; go to http://carolsgreenchipindex.yolasite.com. A pseudo system to assist me would be to model the “Human Cost of Business Development.” My Human Cost of Business Development will be qualitatively different from both the traditional Cost of Production and the Cost of Capital metrics or analytical equations. My data will come from inter-industry business developers such as Financial Consultants, Advertising Executives and Telecommunications Retailers; H2o Wireless.
My Personal Interest & View Points….
I like to play the violin, read the newspaper and volunteer. Recently, I volunteered for the Newark Public Library in the Circulation Department. I shelved books and I was responsible for the Manga/Comic Book section. Also, I used to teach a free Linear Algebra Class at the Bloomfield Public Library in New Jersey. In the past, I was a volunteer for the Radio & Communications Department of Calvary Baptist Church of New York City under the leadership of Pastor David Epstein; brother of Kathy Lee Gifford of NBC’s the Today Show. In that department, I assisted with the soundboard and the lighting for the Sunday morning worships services. It was this department that allowed me to record my first Compact Disc of me playing the violin; all proceeds will go to “The y=3x+2 Scholarship Fund, LLP.” The y=3x+2 Scholarship Fund is for high school and college students who have a proven tract record of success in mathematics. Scholarship awards range from $100 to $10,000 depending on the funds available. The motto of the scholarship fund is: "Changing the mind from the concrete to the abstract one student at a time." The origin of the scholarship fund generated from me being inspired by two co-workers: 7th Grade senior teacher at Roberto Clemente Intermediate School of the Bronx, NY; Charles Schwartz and my math Staff developer; Ms. Arinsburg. Also, my desire to financially support high school students when some of them needed money for college led me to create a formal organization. The name of the scholarship came from the fact that whenever an 8th grade math student needed an explanation, I would always begin with the equation of "y=3x+2."
I am inspired by many mathematicians such as Lagrange, Newton, Gauss and the Weierstrass member Mr. Carl David Tolme Runge but recently I am studying George Boole, Roger Cotes and the great African American Mathematician William Massey.
William Massey’s specialty was querying techniques or obtaining information. His research is so appropriate for today’s modern society that I need his experiences to help fine tune, or link my sustainability metric research. In my opinion; querying results are similar to the linear sound of a violin rather than the non linear sound of a piano; a sound that includes hyper- variables. The sound of a violin is linear because it represents an acuminous sound and yields results that are lines (1-D) or that are products; the answer to a multiplication problem. On the other hand, a wind instrument or a piano queried result represents lingering, Multi-D, range spaced (Rx), time space (Tx) or an unstable universe; a universe that lacks 500 billion dollars in capital.
After using various databases and regularly monitoring the capital markets, I will attempt to articulate analytically various queried results to find a primer, or a scalar for a vector or even an eigenvalue of a matrix that could be considered a sustainable metric. Specifically, let’s say the model/process for the result of a query is y=3x+2. Then I would want to describe in a truncated/digitized fashion a constant relative or a qualitative determinate of y=3x+2. Let’s say that the constant relative of y=3x+2 is “Carol Morgan-Brown,” and let’s say another queried result was modeled to be“x-1” where the adjective/constant relative is “Moab;” the city. Then the analytical qualitative articulation for both is “EQUATIONS.” Ergo I am looking for a real number, or a quantitative value for “EQUATIONS” and hopefully it will be a sustainable metric. This will take a lot of research; especially since the succession/cloning of vectors or arrays create a 3-d trajectory or a wormhole; in my opinion.
In my opinion, queried results could be similar to the encrypted metric used to zip up an analog (non-digital) signal and that encrypted metric could be the sustainable metric that I am looking for; even with incorporating concepts such as white noise, winding, wrapping and my controversial definition of a “Hyper Variable.” My definition of a hyper variable is a variable that means different things at different times but is the same variable yet different powers; a variable with super & subscripts; different from Rene Carmona’s explanation of a hyper-variable in the book Statistical analysis of Financial Data in S-PLUS. Of course the unique time is based on contexts. A perfect example is the word “read.” Suppose the word “read” is a variable and at any moment of time it could mean present tense or past tense; ergo a hyper-variable.
Also I will examine primers, catalysts and or the evolution of a primer to a catalyst & vice versa. Then I will examine data clouds that shield primers, catalyst or even put options that are sometimes considered to be financial projectiles. Next I will determine ethical ramifications of national, global, universal and even sub-atomic strategic economic initiatives and programs as well as examine the ethical ramifications of political initiatives and programs. Or, examining moral hazard and conventional risk metrics of portfolio management will be used; as either a risk metric or a subtrahend for some of my models.
My Philosophy….
My approach will not focus on entitlements nor inheritance issues which are considered interference. Also, I will not idiotically re-express a conventional index via rudimentary number theory manipulation. For example I will not conduct research of phi; a growth index. Then create a proprietary analytical expression, then manipulate my model via numerical analysis and then re-express my index via number theory manipulation. Nor will I publish my findings in the “Journal of Derivatives.” Sorry, but that is a waste of time.
I know the difference between epsilon or a Lagrangian, an ostensible, thin entity versus real, substantial, concrete entities or existence or even t0 (t knot). We live in a transparent world of Pokémon, the IPOD (R.I. P Steve Jobs) and Hip Hop Music (e.g. fluff) and I know the difference. Again, I am not disregarding the succession of a vector. The evidence I am looking for is to describe quantitatively the energy used to create the succession of the vector or array; reminding myself of the awareness that each quantity is an analytical expression. Don’t get me wrong the concept of ‘various interpretations of mathematics’ (set theory) is the universal language ergo some people might state that my sustainability metric research is a waste of time. Reminding myself of the reality that banking systems and cyber security systems always use rudimentary number theory manipulation. However, I want to hone my research and delve into regeneration concepts rather than be misdirected into the possibility of time delays or lulls (a concern of any bank operations dept.) and then cover up the lulls with number theory manipulation; bank fraud. Not to be inconsiderate of the research of polymaths and their work with ciphers, not to ignore the fact that an episilon or a lagrangian is proof of Rx for time, but rather attempt an ideal sustainable metric; an optimal metric that includes decay and growth dynamically. I am looking for a reoccurring “spot rate.” I m talking about a new pi (p) or a new golden mean; phi (f).
My rationale for the research idea….
My rationale for this pursuit is to not cope with, nor get peace of mind when pondering about the concept of termination, loss or in the context of economics; decaying markets. But to learn how to embrace, remember and scaffold a dead market. An example of a decaying market is the newspaper business. Specifically, I am currently working with a company called “Pro-Ven Sales;” the circulation arm of the Star Ledger Newspaper of New Jersey. My location from 6:00am to 9:30am for six (6) months was the junction of Avon, Elizabeth and Clinton streets; the west side (Lincoln Park area) of Newark, NJ. I sold the newspaper to the morning traffic. Pro-Ven Sales has a 10 year relationship with that location and it used to have average sales of 400 papers per day. However, when I left on January 14, 2012 the average daily sales for me was only 16 papers; a decaying market. My best day was approximately 48 Sunday papers costing $2.00 per paper. This was still substantially shy of 400 papers sold. All risk with this market was managed; counterfeit currency collection (operational & systemic risk), theft, safety of the “Hawker” or “Purveyor” and even competition (systemic risk) was accounted for. The police patrolled that area constantly. Protocols by management were established when collecting cash. Theft was reported and written off by the Star Ledger Newspaper organization and I worked with local Ma & Pa stores (Bodegas) to ease competition. Yet the circulation department closed that location. It was so painful for me because it appears that the literate people of the community are no longer there or that the younger generation doesn’t appreciate articulation. Also, decaying markets are the opposite of hope/expectation. The goal of the financial engineer or econometric specialist is expectation and how to manipulate that expectation. If there is no expectation in my opinion, one can’t use it and there is no existence. My goal is to help people believe that there is no null or empty set but that empty set is full of anti-matter. Starting from the “Big Bang” theory which in my opinion insinuates that there is a pre-Big Bang, there is a growing universe and maybe that growth could become an integral, ergo a sustainable metric.
Conclusion….
Most people want to live forever while others just want to maintain. Since I majored in financial risk management or financial engineering / modeling, I want to maintain. Therefore my slogan of “I'm a survivor. I’m not goin' give up…” will yield to “I can’t believe we made that music.” In other words, I will become an innovator!!
Hopefully the brief description of my prospective research is interesting enough for the committee to accept me into the CUNY system. Again, I am aware the Financial Economics program is formidable, yet I am willing to take on the challenge. Thank you in advance for your consideration.
Kind Regards and Yours Truly,
Carol N. Morgan-Brown, MSFE
The Graduate Center Prospective Student, Fall 2013
Manager of Carols Green Chip Index: http://carolsgreenchipindex.yolasite.com
Director of “The y = 3x + 2 Scholarship Fund, LLP:” www.y3x2sf.org
New York State Permanently Certified Secondary Mathematics Teacher
New York State Permanently Certified Business & Distributive Education Teacher