Being a JD/MBA student provides a certain perspective that you simply don’t get from being one or the other. Another example of this was shown to me earlier this week, while I was in class discussing investment vehicles. From the legal side, the professors love to talk about how the derivatives work and are constructed in the legal sense. However, the explanations are never robust enough to truly explain how, and more importantly why, something is used. How does it make money for someone or protect them from losses?
When I am in my MBA finance classes, this is the sole focus of discussion about investments. The fact is that most laws around funds, derivatives, and other investment options came about because someone figured out a way to make money off of them while abusing them. My law professor did a great job of explaining how the instrument is regulated and what steps must be taken if an investor feels that their rights were violated, but ends there. This observation goes to the core of why attorneys make poor businessmen. We stop at the “how it works,” and don’t look into “the why” a business uses it.
That is why I love being a JD/MBA student, because I am able to notice these differences in coverage, mold them together, and walk away from my education with a much deeper understanding of corporate decisions than I would otherwise have as only a JD.