Need some Opinions on CFA

amee74 · April 9, 2007, 8:16pm

Hey Vishal,

To answer ur first part if you have CFA L1 cleared bfore ur summer placements then it is goin to definitely help you out in that.

Now the answer to the second part I am also looking out for

Does anybody has a clue to that????:(

@vishal, faisal.........Quants if first, followed by FSA and Corp Finance thn Investments and Economics and Ethics.

faisal_n_k · April 10, 2007, 5:08am

Hi guys,

By any chance, doesn't seem like though , but I would ask anyways is there any guy (or gal even better ) on here who is in Dubai and wants to go for CFA??? lemme know

cheers

akshatagarwal · April 10, 2007, 11:09am

Thanks guys for the input but guys like me who dont know "A,b,C,d....." 😞 of finance, what should be the course of action of theirs. I mean to ask that whether they should study something thts easy to grasp so tht it can build up their confidence or start with the the tough ones first so tht u find everything easy.

And + which topics you guys find easy and which ones tough??

Cheers

Hi all . I am taking the L1 this june. Only the last book is left now and the ethics portion is left.
As I am from engineering background, i found the quants part very easy. The economics portion is also very interesting. Although accounting portion was lengthy. Corporate finance is also very interesting.
I would sugest that first you should go thru the quants part and then eco portion. Then you can do whatever topic you want according to your liking

cheers

kkj06 · April 14, 2007, 11:23am

Guys,

I am facing problems in understanding the FSA portion from schewer notes. Any tips on cracking this would be most helpful.

Thanks,
Kunjan

yogesh_jainy · April 14, 2007, 2:44pm

hi!

i m planning to do cfa. i hve 2 queries plz answer them.

1) i m planning 2 gve dec 2007 l1 xam. i wld b starting from 2 day. do u thnk i cn clr it wid 2 hr of dedicated stdy. i hve a bankn nd insurance background.

2)i m also thnkn of joining ciia crse frm icfai. do you thnk cfa(from american institute) + ciia from icfai is a gud option.

wtn fr reply.

regards

yogesh

n_z_o_m_n_i_a_c · April 16, 2007, 10:37am

Has anyone cleared level 2 here....please put fundaes...

crash_test_dummy · April 16, 2007, 1:09pm

I'm back. I'm gonna start preparing for L1 December 2007 this week....and this time, i better crack it! Last year was disastrous, and this time I'm gonna learn from my mistakes and get it right. Will record my experiences here as often as i can.

My Resolutions:

1. I will study consistently and regularly, never not-studying for more than 2 days in a row.

2. I will "STUDY" and not merely "READ".
Read = casually flipping thru the pages, without bothering to put pen to paper or taking notes. Going thru solved sums rather than solving them myself.
Study = sit down seriously with pen, paper and calci, solve sums, take notes and work systematically without distractions.

3. I will not wait for study groups to form and coordinate my schedule with others. If like-minded sincere ppl come along, well n good, if they don't, i'll do my own thing.

4. I will not let any self-pity come in the way.

5. I will make up for every lost day of study with equal number of hours of study the following day.

6. I will not use "heavy workload" as an excuse to not study.

7. I will mercilessly and ruthlessly cut down on all useless fringe activities such as casual phone calls, chatting, hanging at street corners, pointless outings, watching every damn movie in town, endless downloading of crap from the net, and other unmentionables.

8. I will set realistic targets and hold myself accountable for achieving them on a daily basis.

9. I will be shameless in asking for help and support from people. Will not let ego issues come in the way.

10. I will not be miserly in spending on books, CDs etc. I will not waste my time hunting for study material, xeroxes, and what not for dirt cheap prices.

11. I will use my holidays effectively, putting in at about 3-4 hours of study on holidays and at least 8 hours of study every weekend .

12. I will maintain this enthusiasm throughout the study period. I will not let it fizzle out within a few weeks.

13. I will stick to my resolutions and treat the above list as non-negotiable and read-only. I will not be a spineless weasel and secretly logon and edit the list to suit my conveniences at a later point.

Done. Sorry for spamming, guys. Im starting preparations for L1D07 this week and intend to use this post as my reference point. If anyone wants to join hands in preparing together absolutely consistently and sincerely, we can think about doing a group meeting once in a while. Im looking for guidance on the FSA part, and im sure i can guide ppl on the quants part. Wat say? Wish me luck! CFA L-1 ACT II BEGINS!!

PS: In the process, im also trying to revive this thread to its glory days. Hope to post regularly henceforth.

yogesh_jainy · April 16, 2007, 3:49pm

hi!

i m planning to do cfa. i hve 2 queries plz answer them.

1) i m planning 2 gve dec 2007 l1 xam. i wld b starting from 2 day. do u thnk i cn clr it wid 2 hr of dedicated stdy. i hve a bankn nd insurance background.

2)i m also thnkn of joining ciia crse frm icfai. do you thnk cfa(from american institute) + ciia from icfai is a gud option.

wtn fr reply.

regards

yogesh

hey!

please reply to my query itz urgent

morris · April 16, 2007, 5:25pm

hEY All

I'm back.
PS: In the process, im also trying to revive this thread to its glory days. Hope to post regularly henceforth.

Thanks a lot dude.. am appearing for June07...
was just going to bed for a nap

after tiring work out at gym, but this post was much more refreshing!!!!!
Best of Luck guys for chase of those three Golden Alphabets.

Cheers!!!!!

lokuzzzzhere · April 16, 2007, 7:08pm

CTD you roxxxxxxx man ....

Seriously, If you or anyone follow these resolutions CFA is in his pocket.

Finally, me too joining the bandwagon for Dec 07...

Enrolled for L1 long ago ...March 12th I guess

keep the Thread Alive.....

Thanks CTD for starting such a wonderfull thread.

~~Mumma , me bhi padhunga

eng_harsh · April 16, 2007, 8:58pm

Hi guys,
I'm appearing for CFA level 1 and I'm based out of Bangalore.
Me and one of my friends are planning to buy Stalla Passpro and/or Analyst Pro softwares. If can form a pool of 4-5 people we can share the costs and it will come down drastically(like say ard 500 bucks for each). It'll also give a broader choice of questions than sticking only to schweser. Moreover, these softwares are not available online.
Please PM me if you are intersted.

-Harsh

anupam_will_return · April 17, 2007, 5:24am

hi!

i m planning to do cfa. i hve 2 queries plz answer them.

1) i m planning 2 gve dec 2007 l1 xam. i wld b starting from 2 day. do u thnk i cn clr it wid 2 hr of dedicated stdy. i hve a bankn nd insurance background.

2)i m also thnkn of joining ciia crse frm icfai. do you thnk cfa(from american institute) + ciia from icfai is a gud option.

wtn fr reply.

regards

yogesh

Though I can't answer your second question, for the 1st question, I'm sure with your background 2 hrs of dedicated study will be more than enough to ace L1.
All the Best!

-Vengeance

crash_test_dummy · April 17, 2007, 6:46am

CTD you roxxxxxxx man ....
Seriously, If you or anyone follow these resolutions CFA is in his pocket.
Finally, me too joining the bandwagon for Dec 07...
Enrolled for L1 long ago ...March 12th I guess
keep the Thread Alive.....
Thanks CTD for starting such a wonderfull thread.

I wish my posts had the same inspiring effect on myself as they do on others!!

Here's the first in a series of regular posts that i intend to make regarding my studies in the coming weeks and months. The intention is not to show off

, but just to keep a check on myself and to keep communication open with other members of the thread and discuss the topics that i list out below (PS: if any of you guys feel im posting irrelevant personal stuff that you dont find useful, please let me know).

Day 1

Wiped the dust off my old books last night and flagged off my studies with the area im most comfortable in: Quant. Started with Probability (LOS No. 9) and learnt the following concepts from Schweser's Book No. 1:

Topics Covered

Continuous/discrete variables, Continuous/discrete functions, probability density function, cumulative distribution, expected values, etc.
Discrete uniform random variable, Continuous Uniform random variable
Binomial variables, binomial distribution, binomial probability function
Normal distribution, its properties, finding area under normal curves
Roy's safety first principle
Monte Carlo Simulation, Historical distribution (or simulation? cant remember! )

Overall, a very productive first day. Stuck to almost all resolutions. Can't comment on the big picture as yet coz the main topics (Read: FSA, GIPS, etc.) are yet to come.

Weak points

I still cant use the financial calculator properly. Need to work on that.
Need to get out of the comfort zone of quant and familiar topics and take the biggies (Read: FSA, GIPS, Ethics, etc.) head on early in my prep.
Need to develop a long-term plan and time table for all topics.

Next Steps

Make neat summarized notes of all that i've studied so far.
Start next topic: Time value of money, stats, etc.

Comments are most welcome. 😃

lehmanbrothershereicome · April 17, 2007, 8:42am

hi,

i am getting a little stuck with using the calculator if any of the guys who have used it comfortably can help me out with how to make entries.

When i am using it to calculate FV of an annuity i get correct values.
However when i try to calculate PV of an annuity i land up getting incorrect answers.
Any help in this direction will be higly appreciated.

@CTD:

Buddy ur post was very helpful and invigorating.

Thanks,
Pooja
p.s. If someone is very conversant with using the calci...kindly PM ur number so that i can learn it from u. thanks

GOT IT 😃 u have to reset the calci after every calculation. If there is another way please let me know. thanks

crash_test_dummy · April 17, 2007, 9:05am

hi,

i am getting a little stuck with using the calculator if any of the guys who have used it comfortably can help me out with how to make entries.

When i am using it to calculate FV of an annuity i get correct values.
However when i try to calculate PV of an annuity i land up getting incorrect answers.
Any help in this direction will be higly appreciated.

@CTD:

Buddy ur post was very helpful and invigorating.

Thanks,
Pooja
p.s. If someone is very conversant with using the calci...kindly PM ur number so that i can learn it from u. thanks

Aah, calci trouble! Seriously, using that thing is a challenge in itself. Im exceptionally bad at using the calci in particular and electronic devices in general

. Will be doing the annuity/perpetuity section in a few days, and if i figure out something, i'll post. In the meantime, there are three options you got:

1. Study the user manual that comes with the calci.
2. Schweser gives you step by step instructions on how to use the calci...are you facing problems even after following the instructions? In that case, there must be some settings ka jhol...the settings have to be in some Effeactive Annual Rate (EAR) or crap like that. Check out the settings.
3. Consult some gadget guru on this thread.

BTW, Im assuming you using BAI plus, right?

Hey i was thinking maybe a bunch of us could have a "Calci Workshop" where we share gyan on using the calculator effectively and shortcuts and everything. Sounds trivial, i know, but take it from a guy who got so frustrated that he calculated upto the 8th power without using the financial functions!

morris · April 17, 2007, 6:03pm

hI all

Well i am using Texas BAII pro i find it easy.. trust me guys knowing your calci is as imp.as knowing the concepts...
shoot any question regarding it..

@Pooja

you might have not cleared the memory..... use key Clr TVM

Cheers!!!

vishalchopda · April 17, 2007, 8:38pm

hello guys.. i am also plannin to give CFA L1 in dec..
i have just completed reading book4(porfolio mgmnt).. i started with it.. next i will do fsa, eco, derivatives & fixed income and last ethics & quant..
i will mostly startin with my mba or masters in finance (still not sure wat i will take and awatin results of mdi) this june so want to finish off atleast reading the 5 books just once before 15 june.. i guess i can do it but then won't be able to grasp everything.. then after june along with my mba or masters i will revise all again.. plz give comments on my approach.. whether it seems correct.. i haven't bought any calci yet.. shud i buy it now and which one? As of now i am managing with scientific calci :)
for my bckground i am a BE and currntly in TCS..

Thanks,
Vishal

crash_test_dummy · April 18, 2007, 8:34am

hello guys.. i am also plannin to give CFA L1 in dec..
i have just completed reading book4(porfolio mgmnt).. i started with it.. next i will do fsa, eco, derivatives & fixed income and last ethics & quant..
i will mostly startin with my mba or masters in finance (still not sure wat i will take and awatin results of mdi) this june so want to finish off atleast reading the 5 books just once before 15 june.. i guess i can do it but then won't be able to grasp everything.. then after june along with my mba or masters i will revise all again.. plz give comments on my approach.. whether it seems correct.. i haven't bought any calci yet.. shud i buy it now and which one? As of now i am managing with scientific calci :)
for my bckground i am a BE and currntly in TCS..

Thanks,
Vishal

I didnt really understand much of your approach. you planning to finish the syllabus by june and then begin your mba and then take some time off to take the CFA exam, right? Seems a little challenging, but it is achievable. Your first year of MBA wont contain so much finance, so you'll literally be juggling between two different courses (MBA and CFA), which is challenging but achievable, provided you finish MOST of the CFA portion by june...coz once MBA begins, its quite difficult to find time for anything else. I would also advise you to check up your MBA academic schedule with your would-be seniors...what if you got some major MBA quizzes or exams or interneships overlapping with cfa exam dates...you'll lose a lot of money. Also talk to seniors about whether it is practical to find time for both these things. Basically, do a lot of "due diligence" before you register. If you go for MS finance, i feel it will definitely be managable coz the syllabus would overlap. IMPORTANT: You should get the financial calculator ASAP, let go of thate engineering relic! It is as important to know how to use the calci fluently as it is to know the concept itself.

Update time!

DAY 2: Did not study anything. Annoying cousins came over and all that family drama crap ate into my study time. 😞

Next Steps: Ensure immediate compliance with resolution number 1 and 5.

Hey i've been downloading those videos from that CFA work group link someone gave me earlier. Fund the quant video quite useful (way more useful than the other videos i've been downloading

) The best part is, even if you're too tired/lazy to sit with a book, you can always play the video, turn up the volume, open a nice can of beer, and listen to advanced derivatives concepts, while working your foot massager

mulder81 · April 18, 2007, 12:02pm

Hey i've been downloading those videos from that CFA work group link someone gave me earlier. Fund the quant video quite useful (way more useful than the other videos i've been downloading ) The best part is, even if you're too tired/lazy to sit with a book, you can always play the video, turn up the volume, open a nice can of beer, and listen to advanced derivatives concepts, while working your foot massager

Hi all, I am planning to give L1 in Dec 2007... Been a silent reader all along..

Does anyone have the Shwezer videos by any chance ? The ones on the link provided earlier are from some other provider if I am not mistaken...

crash_test_dummy · April 18, 2007, 1:43pm

Does anyone have the Shwezer videos by any chance ? The ones on the link provided earlier are from some other provider if I am not mistaken...

The videos on the site are from some company called "Allen Resources". I found the quant video pretty good, so it doesnt matter what company it is from as long as i understand the concept. (maybe i found it good coz i already knew the topic being taught). The instructor is a finance prof from Duke University...which is great. I've downloaded the video on derivatives and alternate investments today (clicked on "download" last night, slept, and came to work today...hopefully the 450 MB download must be done by now

). Will let you know how good the remaining videos are.

I did hear some rumblings long time ago about some shady agent offering DVDs of schweser videos for some ridiculous price (like 3000 and all) but i didnt pay much attention to it. So no idea.