To spot the next bubble, follow the Harvard grads. They tend to flock to the plushest pastures, and “the getting looks best right before a crash.”
It’s called the Harvard M.B.A. Indicator — though it applies to undergrads, too — and it’s one part psychology, another part economics. The idea is simple enough: It’s a bad sign when more Harvard grads go to Wall Street.
Harvard is a magnet for Organization Kids who excel at coloring between the lines. After graduation, they want to do something prestigious, something remunerative, but mostly, something that gives them new lines to color between. That might be Silicon Valley, or it might be Teach for America — or it might be Wall Street, if, that is, the getting looks good.
Tech looks just as, if not more, lucrative, with higher capital requirements, made big banks a little less profitable