My interest in the field of finance traces back to my childhood. As I was growing up, the “Doi moi” (“Reformation”) Era brought about more freedom and openness to the stagnant system in Vietnam. People could start to have their own businesses and deal with foreign entrepreneurs. Naturally, I could, at the time, understand neither technical concepts, such as principal, interest and deposit, nor how a bank worked or even what it was; however, in my nascent perceptions, I could discern the importance of financial institutions as keepers of people’s wealth, and even of their hopes for the future.
Accordingly, I grew more and more determined to place my future in the field of finance. Throughout middle and high school, I dedicated most of my time to natural sciences, such as Mathematics, Chemistry and Physics. I could describe myself as an accurate and analytical-oriented person, for not only did I received rigorous training, but I also enjoyed being pertinent and precise. In 2005, I entered the Vietnam National University in Hanoi, majoring in Finance and Banking, but later transferred to International Economics to enroll in an highly selective Honors Program.
Before the time of the transferring decision, I hesitated for a brief period because I would have to postpone my pursuit of Finance. Nonetheless, I understood the importance of Economics and fully anticipated that an extensive knowledge of the field would eventually serve me well in a financial career. My concentration during the program, conveniently, focused heavily on Stock Market, International Finance, Economics of Finance and Banking and International Payment.
The insightful study on matters such as commercial banks’ functionalities, the central bank’s instrument and responsibilities, and the significance of the balance of trades and exchange rates, has enabled me to grasp the fundamental ideas of the field, as well as triggered my utmost curiosity in understanding thoroughly the financial side of Economics. In my third year, when I was studying Stock Market, I entered a research project with Dr.
Ha Tran, who was a fellow at the University of XXX. We then worked together on the topic: “Current Situation in the Loan Market for Investment on Real Estate”. Simultaneously, I was also eager to engage in another group research on the petroleum market, which later won me the second prize for student’s research from the Faculty of International Economics. At the end of this school year, I intend to write my graduation thesis in the field of International Finance, particularly????
Additionally, I possess first-hand experiences on the financial market as I started making a small investment in the Ho Chi Minh Stock Exchange during my third year. At the beginning, I consulted my teachers and my parents’ friends, who are experienced businessmen, to comprise a profiting portfolio, which, in turn, required me to watch for enterprises’ data meticulously: their ROEs, P/Es, net profit and current news of their operations. My stocks paid off wonderfully for a short period, as the total value of my portfolio increased by 30% during the first few months.
Like most dabbling investors, I was under the illusion that making money was not a difficult task. Unfortunately, the stock crash happening at the end of 2009 brought me back to the ground. The VN Index, the main indicator of the market, fell from 1200 to 400 in less than six months, reducing my fortune by one-third. However, while most other previously ardent investors withdrew from the market as quickly as they entered, I proposed a new strategy that kept me in the market for long-term investment.
In the near future, I believe I will be able to balance my financial activities once again. In 2010??? , I had a chance to go to Thailand on a trip to Chulalongkorn University in Bangkok. It was my first long trip to a capital city of the neighboring country, which impressed me a lot with their metropolitan infrastructure and dynamic business environment. I was convinced that Vietnam needed decades to reach the current development level of Thailand.
Back home, when I was reading “The Lexus and the Olive Tree” by Thomas Friedmann, the opening pages struck me with minute details of the Asian Crisis in1997, which ignited in Thailand. In merely few weeks, fifty six of fifty eight banks in Bangkok went bankrupt. Accordingly, I have realized that the nascent financial market of Vietnam still has a long way to go, and I myself also have much more to learn. My nation needs a lot more experts in the field to help regulate the emerging market and support people in making ise investments, so that their assets are kept in a safe place and growing. In conclusion, I want to restate my desire for a study in finance in University of XYZ. I firmly believe in my ability in the field due to my long-term commitment and determination. My study would help me best in my future career as a financial expert which I have always dedicated myself to. The knowledge which I shall obtain is also what I aim to bring back to my country, contributing to the development of an advanced, well-structured financial market of Vietnam.