http://blogs.wsj.com/deals/2010/03/15/michael-lewiss-the-big-short-read-the-harvard-thesis-instead/tab/article/
http://www.hks.harvard.edu/m-rcbg/students/dunlop/2009-CDOmeltdown.pdf
I must say I must really sit down and read through the whole document in 1 and half an hour although I am very busy with my SAS program. I did not really read very carefully but again it shows that we should never underestimate what people can do with their Bachelor or Master thesis.
I guess, Bachelor and Master students who really want to do a good thesis do not afraid of publishing pressure and do their best creative works. PhD students care so much about things other than the most creative and important questions they should keep focusing on. And as an academic told me the best he has ever done is his PhD thesis, creativity is negatively correlated with the academic status. It seems that people are afraid of losing face if they try their hands on something which is "trivial" in the eyes of their peers.
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