i check the los from CAIA pdf file, and find no much changes from 2008 or 2007… by right there would be a lot of changes due to subprime crisis, esp. for hedge fund… why the learning object doesn’t reflect this? out-dated?
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They took out the entire cluster section from one of the chapters. Thats a pretty significant change. One thing I find interesting though, is that I have heard in Level II they focus alot of their attention on Convertible Arbitrage. I’m wondering if this was just coincidental with the fact that CB Arbitrage was the worst performing strategy (-60% YTD according to Eurekahedge) of 2008…
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Thats true. There is very little change from 07 or 08. Given that CFA changes their material with high frequency its kinda sad that the LOS have not changed materially.
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