How useful is a law degree in investment management (distressed debt)?

Question

I'm taking my LSAT in October and am seriously considering going to law school. I realize corporate/securities/bankruptcy law all have some application towards business, but how sought after would I be once I graduate compared to MBA's, CFA's, and finance undergrads from the Ivys? I currently have a few years experience as a research associate and market analytics analyst and my ultimate goal is to work for/start a hedge fund focused on high yield and distressed debt investing.

My question is targeted towards money managers and analysts.

Thank you.

Answer 1

As a former hedge fund manager and 19 years in the financial markets I can say in my business experience that the best degree to have is a law degree.

A company will pick up a lawyer faster than any MBA or CFA I. If you go to a top law school you are a shoe in.

Get the law degree, pass the bar, take your CFA exam, and you'll do well.