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Investment is less about knowledge of finance and more about controlling your emotions. Lots of Bernie Madoff's investors were finance smart but couldn't control their greed and didn't know how to identify unrealistic market conditions (or didn't want to face reality).
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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No. I work with people with those degrees and they are only in the $70-80k range. I only know one that is able to play the stock market and do OK but is not what I would consider rich by any means. Becoming rich is more a function having a good income and being able to afford to hire the right financial planners/consultants to grow your money. Just having a particular degree, advanced or not is not going to make anyone rich.
It's probably more of a correlation than causation. Being aware of something does increase the likelyhood of you acting upon said something. The fact that you are more likely to pay attention to your finances gives you a leg up. Watch/read Freakonomics if you havent already.
I never studied finance or econ in college. But since then I've done my homework, and an understanding of it all has been a definite help with my investing. A good portion of my returns/wealth is due to this knowledge.
Dose majoring finance/econs in college make you rich someday ? I believe so since you know about investment.
There area lot of broke smart people out there. Lawyers, accountants, finance guys etc. Knowledge and smarts help but it's not a guarantee you'll be able to hold on to your money or not make bad financial decisions.
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