Dialogue Days keynote speaker says the economy will eventually stabilize
Dialogue Days Keynote Speaker Timothy Magnusson told business students on Monday to develop a moral compass.
"It's embarrassing to me to see what some of my competitors are doing," Magnusson said.
Magnusson was the keynote speaker for Dialogue Days in the College of Business Administration. He gave his speech in Warriner Hall's Plachta Auditorium.
Magnusson graduated from Central Michigan University in 1994.
"I thought it was very helpful for students. I got to learn a little bit more about the hedge funds, why this economy is collapsing, and what happened (to Wall Street) in 2008," Troy freshman Kyle Kulczycki said.
Magnusson received his M.B.A. from the Thunderbird School of Global Management in Glendale, Ariz. The senior portfolio manager oversees $1 billion in assets for the hedge fund, Black River Asset Management LCC.
Magnusson commended the CBA for providing students with training in sales and the SAP Program. Those are unique things that give them skills that companies want in their employees.
"Our students can compete successfully with any students in the world," said Michael Fields, CBA Dean.
Magnusson advised students to make sure to manage their time wisely at Central Michigan University. They should aim for high grades and build relationships with professors who have connections in the business world.
One student asked about the effect the proposed stimulus package would have on the economy. Magnusson asserted the bill was not a silver bullet. However, the Minneapolis resident recognized the need for rebuilding infrastructure.
Right now, Magnusson doesn't know where the economy is going, but he knows the economy is going to shrink. Investors lack confidence in the markets. Still, he is confident that the economy will stabilize.
"It's going to take time. I don't know what the time frame is. I think it's going to be a good two or three years before we see an upturn," he said.
Magnusson assured students that there will be entry level jobs available as companies lay off more high-salaried employees. The job market will be tough but there are opportunities.
Howell sophomore Matthew Saber said he would focus on becoming a leader and taking advantage of everything CMU had to offer.
"I thought it was motivational knowing that someone from Central Michigan can make it in national industry," he said.
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