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Tmoni26
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Best of luck everyone.
One. More. Day

Tmoni26 Judging from previous posts, I think the scholarships and admission decision will be released at the same time
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Good luck to all R3 applicants for tomorrow! Keep watch on LBS #DecisionTracker for latest call updates...https://gmatclub.com/forum/lbs-202/app-tracker.html

We will set up a dedicated chat room for LBS R3 folks tomorrow before the decision release. Any idea when the calls/emails are likely to come out?

While you wait, I encourage all interviewed applicants to submit their interview reports in BSchool reviews section so that future applicants can benefit from your experience.. https://gmatclub.com/reviews/select.php
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Here is a separate chat room for LBS R3 applicants who are waiting for their decisions.. https://gmatclub.com/forum/mchat3.php?fl=menu
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Just got an email from LBS

I have been placed on the Waitlist.................sigh
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IN!!!! Im on cloud 9..

Tmoni26 I am sorry to hear that. Please keep your hopes high. I've been there!
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IN!!!! Im on cloud 9..

Tmoni26 I am sorry to hear that. Please keep your hopes high. I've been there!


loivoq,

Big congratulations to you.....hope you have a splendid time at LBS
Are you going to attend the Open day at the end of the year
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Where is everybody??

All the best to the R4 applicants
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Just got an email for R4; Declined. No request to re-apply either.

My GMAT is weak (670, Q42/V40) so maybe that was the nail in the coffin. Undergrad GPA is 3.95 (engineering) from a top 4 in Canada. Did not have enough time to prepare for the GMAT so only myself to blame. I'm in the consumer products industry with strong experience over the past 4 years leading strategic manufacturing projects (engineering/project management position) in a large multinational (one of the biggest). I'm turning 27 this month, and background is North African/Canadian. Was hoping the rest of my profile would give me a boost, but was not to be.

Bummed no request for re-apply. Need to up my GMAT game and re-apply soon for the next cycle.

All the best to everyone else :)

H

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HHisham
Just got an email for R4; Declined. No request to re-apply either.

My GMAT is weak (670, Q42/V40) so maybe that was the nail in the coffin. Undergrad GPA is 3.95 (engineering) from a top 4 in Canada. Did not have enough time to prepare for the GMAT so only myself to blame. I'm in the consumer products industry with strong experience over the past 4 years leading strategic manufacturing projects (engineering/project management position) in a large multinational (one of the biggest). I'm turning 27 this month, and background is North African/Canadian. Was hoping the rest of my profile would give me a boost, but was not to be.

Bummed no request for re-apply. Need to up my GMAT game and re-apply soon for the next cycle.

All the best to everyone else :)

H

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Good to see that you are getting prepd up for the next cycle
wish you all the best
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FROM LBS Admissions Blog: Sloan MSc – Scholarships
  Funding your studies is an important consideration when looking to undertake a programme of higher education, particularly when the programme of study is full time such as the Sloan MSc. There are a number of funding options open to potential Sloan Fellows, including company sponsorship, loans and personal finances. For those the Admissions Committee […]

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Hi all

does anybody know:

How much is the commitment fee for LBS MBA?

What is the payment schedule for LBS MBA?

(I couldn't find it on the LBS website)
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Hi everyone, does anybody know whether scholarship decisions have been released for r3?
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Guys & Girls who have been admitted and paid the deposit fee should please be kind enough to respond to the questions above

Also one more question, would LBS accept American Express credit card for the deposit??
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FROM LBS Current Students Blog: ‘Meeting’ Warren Buffett: My trek to “The Woodstock of Capitalism”

In Omaha for the Berkshire Hathaway Annual Shareholders Meeting

‘Meeting’ Warren Buffett: My trek to “The Woodstock of Capitalism”
 

It’s called the Woodstock of Capitalism. Others say it’s a gathering of Warren Buffett fans, wannabes, value investors and other finance professionals. However you want to describe it, the Berkshire Hathaway annual general meeting lies somewhere at the intersection. For me, attending was a bucket list event. I recall when I first discovered Warren Buffett. It was off Investopedia, during a college internship at Vetiva Capital, in Nigeria, subsequent to which my father bought me my first book on him – Warren Buffett Wealth by Robert P. Miles. Then, I was 17 years old.

Visiting Omaha was not a specific aspiration for attending London Business School (LBS) but I planned to cross it off my bucket list at some point in this life. It was my selection as part of a group of 5 out of 50 applicants to participate in Matthias Riechert’s (LBS alum) value investing forum, that inspired me to make the 12-hr trip down. Arriving Omaha on a warm Thursday evening, after hours reading Seth Klarman’s Margin of Safety, all I could do was help myself to a good meal at one of Omaha’s legendary restaurants after visiting Buffett’s impressive house since 1958. Considering the  number of visitors to Omaha for this event (35-40k) represents almost 10% of this quiet town’s population, Air BnB and Uber were in very high demand.


Warren Buffett’s house since 1958

On Friday, I met up with Davide Conti, LBS MBA2017, who was attending the meeting with a few students from his exchange school, Wharton. We kicked the day off meeting with renowned hedge fund manager, Whitney Tilson. He spoke about the importance of studying failure as much as we study success, somewhat in echo of Charlie Munger’s saying: “All I want to know is where I’m going to die, so I’ll never go there”. Sooner than later, he delved into the topic of marriage and divorce. We discussed the importance of accepting and dealing with our mistakes. He gave the example of how after taking the plunge and recommending an investment, he had to sell within weeks after a friend validly challenged his thesis. The ongoing disruption of industries was a topical issue (even throughout the trip), which follows on one of the major themes discussed at the recent GenerationE conference hosted by the LBS Tech & Media Club. We also discussed the role of incentives and compliance in controlling risk taking, when discussing Wells Fargo’s problems, as well as the importance of knowing and expanding one’s circle of competence.


After our meeting with billionaire Mario Gabelli, hedge fund manager Whitney Tilson and Wharton MBA students

We left for Centurylink Center, venue of the big meeting, to do some shopping, and unfortunately missed Warren when he swung by. We subsequently attended an investor briefing hosted by billionaire Mario Gabelli’s company, Gabelli & Company, and he had Q&A with us afterwards. Our next stop was the famous Yellow BRKers event, a gathering of long time Omaha visitors. To cap this day, we caught up with a big group of LBS EMBA alumni, many of which took the value investing courses at LBS and Columbia. We sought to spot Bill Gates and Charlie Munger at a far out location but to no avail. Nonetheless, it was a good evening, meeting more value investors and discussing their motivations to keep attending. We called it a night by 1:30am but needed to be up in 3 hours for the big day.


With LBS students (Davide {top right}) and alumni (Matthias Riechert {top middle}, Ninad, Konstantin, Melinda etc.)

5:20am and we were alreaady on queue at Centurylink. Unexpectedly joined by a former colleague, we patiently waited for just over an hour to get in before sprinting across the hall to get seats on the lower ground. Suffice to say, organizers of the The Investors Podcast, Preston Pysh & Co., had shared a video recording of the sprint route to get the best seats. There were also strategic ways to game the Q&A session, with the hope of getting called upon.


With my 5am line-up crew (Davide Conti & Ildar Davletshin) outside the meeting venue

Before the official programme kicked off with the funny video, I went to the shopping hall to watch Buffett throw newspapers with Bill Gates. While I couldn’t get close enough for a selfie, the Financial Times featured pictures of me in the crowd on its live event blog (see below). Overall, between Charlie and Warren, they answered over 50 questions from analysts, journalists and the audience. It was impressive to see the duo, who met at 35 and 29 respectively and are now 93 and 86, answer questions with such brilliance and humor. It was an endless flow of business, investing and life principles, some of which @LBSAfricaClub shared on its twitter page.


Caught on camera by the FT blog with Warren Buffett and Bill Gates

During the lunch break, we had drinks with the team from Robotti & Co, where we met even more value investors. After the Berkshire Hathaway meeting, we met up with another group of value investors (partly organized by Shai Darshati and his team at Manual of Ideas), then met up with LBS Value Investing Professor, Eddie Ransden, and ended the night at drinks with former Berkshire Hathaway employee and now investor, Ian Jacobs. As you can imagine by now, the quality of the network was truly impressive and I must say that for most people I asked, this is partly what keeps them repeating the yearly pilgrimage.

By Sunday, one could see that the Berkshire Hathaway annual meeting is quite a big deal to Omaha. As people departed, the town gradually lost its buzz. Even at the peak of activities on Saturday, there was barely traffic anywhere. On the day, we first attended the annual meeting organized by Markel Corporation, an investing group structured similar to Berkshire but more willing to invest in areas Berkshire might consider risky. We then met with a diverse group of people partly attracted to the meeting by The Investors Podcast, and then debriefed with a group of LBS alumni including my value investing forum teacher, Matthias Riechert.


With founder of The Investors Podcast, Preston Pysh

As I wrap this up, I’m on my way back to London, reflecting on what was nothing short of an impressive weekend. Some of my key takeaways from multiple discussions include:

1) Most value investors don’t use CAPM in establishing a hurdle rate for their investments. As Matthias puts it, “no billionaire ever got rich using CAPM”.

2) Reading and research diligence are absolutely critical to one’s success as a value investor. In today’s noisy world, independence of thought is necessary. As many, including Buffett, put it, a good investor shouldn’t delegate his research responsibilities.

3) In as much as companies trade at different PE valuations, growth rates should play a key part in making sense of the multiple while still seeking a margin of safety. As the debate around investing in companies such as Google and Amazon continues, it appears to me that the platformization of businesses will remain a disruptive force across many industries.

4) My best quote was from Charlie Munger: “fish where the fishes are”. Focus on the areas within your circle of competence as all you need to be financially well off are a few good companies that will compound beautifully for you over time. Value investing is simple but the diligence required lies beyond many’s reach.

Amidst all the interesting things I’ve done at LBS, some of which I’ve blogged about, attending the Berkshire Hathaway annual meeting was indeed one of the most impactful. It does nothing but brings to life for me our famous hashtag – #whyiloveLBS.


Outside CenturyLink Center, venue of the Berkshire Hathaway annual meeting

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LBS - Admission Trends Over 5 Years!!


Here is our analysis of admission trends and acceptance chances at LBS based on our accumulated forum data of LBS applicants. We have tried to determine acceptance chances by GMAT score, admission rounds, industry, etc. and compare performance of GMAT Club applicants with overall applicant pool. The data used for this analysis is self-reported, so it's advised to use findings of this analysis with discretion. They are meant to give only a general idea of LBS's admission scenario. Don't presume that these findings will hold true all the time.

We would welcome any comments, opinions, suggestions or anything else that you might have to say about the findings of this analysis.


LBS Vs GMATClub: Applicant Pool YoY Comparison
2012 Intake2013 Intake2014 Intake2015 Intake2016 Intake
SchoolGMAT ClubSchoolGMAT ClubSchoolGMAT ClubSchoolGMAT ClubSchoolGMAT Club
# of ApplicantsN/A150N/A207N/A358N/A270N/A274
Acceptance RateN/A0.23N/A0.22N/A0.16N/A0.17N/A0.21
Average GMATN/A717N/A713700712701718N/A716
Average GPAN/A3.5N/A3.42N/A3.43N/A3.6N/A3.54
Avg Work Experience (in Months)N/A66N/A6966636057N/A62
Average AgeN/A28N/A2929282928N/A27



Acceptance Rate by GMAT Score



  • Acceptance chances increase with higher GMAT scores.
  • As you score 730 or more on the GMAT, your probability of getting accepted increases to 1/3. Also you can be fairly sure of getting interview invite.


Sample Size: 558 Applicants





Acceptance Rate by Admission Round



  • It’s surprising that chance of acceptance in R1 is almost same as that in R3
  • R2 and R3 have highest probability of acceptance than other rounds.
  • R1 is greatest round in terms of number of applicants.


Sample Size: 1251 Applicants





Acceptance Rates of Different Age Groups



  • Greatest portion of LBS's applicant pool is coming from 28-30 age group and this group also has highest chance of admission. This is not very surprising because average age of LBS's incoming class has always stayed around 28 - 29.


Sample Size: 412 Applicants





Acceptance rates by Countries



  • For this analysis, we have considered only those countries that have relatively higher number of LBS applicants on forum. We have not chosen the countries with less than 8 applicants with the exception of Russia.
  • We have also shown the difference between average GMAT of overall applicant pool of a specific country and average GMAT of admitted students of that country.


Sample Size: 391 Applicants





Acceptance rates of applicants from various industries



  • The first chart - line chart - shows acceptance rates of applicants from various industries and the pie chart next to it shows industry-wise allocation of applicants.


Sample Size: 514 Applicants







Incoming Class of LBS



  • Here we have done industry-wise classification of students admitted between 2012 and 2016 to see representation of various industries in an average LBS MBA class.


Sample Size: 514 Applicants



As I said earlier, we welcome your views, counter-views, suggestions, etc on the analysis. Thank you!

Hi Narenn,
Thank you for the excellent post. However, I am unable to see the countrywise break down of acceptance rate. By any chance could you reupload ?
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Hi Narenn,
Thank you for the excellent post. However, I am unable to see the countryside break down of acceptance rate. By any chance could you reupload ?

Here's a snapshot of the post, with images.
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