Paper Gains Newsletter

by Matt Magee at mForce Capital

Is College Worth It?

But we're asking the wrong question entirely about college. Instead of 'Is college worth it?' we should be asking 'Which parts of college are working, and what does that tell us about the future?'

The math is brutal for most graduates. Boomers could trade 4 years of college for 40 years of middle-class security (more or less). Today's 25-year-old faces a negative net-present-value on that same deal. When the fundamental economic bargain breaks down, it flips everything - your discount rate, your risk tolerance, your entire worldview, again, leading to zero-sum beliefs.

But some parts of college are working, especially those that prepare for people to work in the healthcare sector as mentioned earlier. Look at these maps! In the 1990s, the top employer in each state was manufacturing. In 2024, it’s healthcare. That’s a different economy.

We are a maintenance economy, rather than a creation economy.

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This is a topic that is ever-changing, and I think about it often. My short answer today is, it depends. As AI continues to improve, where does that leave recent college grads, and how do they get started in a particular field? Studies like this from the Federal Reserve and the New York Times raise more questions than answers. At least for myself.

Chart of the Week

Jobs likely to be impacted first by AI, according to Microsoft.

Jobs Least Likely to be Impacted by AI, according to Microsoft.

Ending on a Positive Note and

RAMP is an AI success story that you see a lot in the news. Their co-founder, Eric Glyman, posted this last week after a recent fundraising round. To drive home what we talked about above. This is the finance team of the future in their eyes.

What I've Enjoyed Recently

I enjoyed this Money Wise episode. Specifically, the struggle and clear understanding of what money means to him.

Bonus Episode from Money Wise and helping the wealthy find love.

Considering selling your company to a private equity firm? Give this a listen first.

We have hit a dry spell on shows. The good news is by the time this hits your inbox, Hardknocks will be back, and Any Given Saturday about the SEC hits Netflix this week too.

Two very different approaches to their career and life. I will let you decide what side you're on.

Paper Gains Show

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See Ya Soon

-Matt Magee

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Copyright (C) 2025 mFORCE Capital All rights reserved.

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Registered Representative of Sanctuary Securities Inc. and Investment Advisor Representative of Sanctuary Advisors, LLC. Securities offered through Sanctuary Securities, Inc,

Member FINRA, SIPC. Advisory services offered through Sanctuary Advisors, LLC., a SEC Registered Investment Advisor. mFORCE Capital is a DBA of Sanctuary Securities, Inc. and Sanctuary Advisors, LLC.

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