I’m about 12 hours into my studies of derivatives and I have to say it’s really good stuff. I wasn’t impressed with L1 Derivatives (for me it seemed to just be use of forumulas and not that much in the way of application), but L2 seems to put a lot more together and it’s a lot more useful and a lot more interesting. I’m hoping L3 gets even better. I haven’t hit the swaptions yet and figure I’ll probably get hammered in the late part of SS17 but all in all I like it. What are everyone elses thoughts? I came into derivatives a bit nervous but feel pretty good about it so far. Budfox had some good advice about how to approach it. I’ve liked the Schweser videos on this topic. They’ve helped a lot. I figure I have another 15-18 hours more to go on it but am looking forward to moving on to the full L2 review.
Ok, and we care because … ?
gm, I was a bit intimidated by swaps the first time around, but i’m feeling better about it. i’m more stressed about fsa right now. i seem to have forgotten everything we learned in john harris’s class (i just started my review) but yeah, i think i can manage derivatives.
There is no doubt that derivatives come together through level 2 texts. Level 1 exam only had about 20 questions regarding them. Level 2 has quite a bit more. However, if you are 12 years into the making, and do not know more than what is offered in the CFA books, you are either a complete idiot, or a complete idiot.
wyantjs Wrote: ------------------------------------------------------- > There is no doubt that derivatives come together > through level 2 texts. Level 1 exam only had > about 20 questions regarding them. Level 2 has > quite a bit more. However, if you are 12 years > into the making, and do not know more than what is > offered in the CFA books, you are either a > complete idiot, or a complete idiot. This is the second thread that you have been a complete dick on. In as many days. Awesome.
C’Mon guys… he needs inspiration/motivation … and who doesn’t, we all need it at some time or the other. You will be all good GMofDen. Initially Derivatives is difficult, 2nd read should connect the dots. I have read Derivatives once and found it ok, expect for few concepts that did not stick, which will, when I do a 2nd scan of the section.
cfasf1 Wrote: ------------------------------------------------------- > gm, > > I was a bit intimidated by swaps the first time > around, but i’m feeling better about it. i’m more > stressed about fsa right now. i seem to have > forgotten everything we learned in john harris’s > class (i just started my review) but yeah, i think > i can manage derivatives. Even I’m very worried about FSA. Everything else seems to be manageable with lots of reviews.
i m still puzzled about swap thing… maybe until i start with the qbank and yes i think the derivative is not as shltty as L1 also
I like derivatives. It isn’t easy but quite close to the real thing and indeed a lot more appealing than L1. I agree with sf… FSA s*cks.
Currently feeling much better about FSA than derivatives but still have to finish up like I said… Fourcastles and wyantj piss off. There always have to be a-holes on the forum.
CFAS1 and Dinesh thanks for not being an douchebag like some of the others. Cfas1 what stage are you on reviewing the FSA? I went back to some of the old exams and looked at FSA and a lot of it wasn’t as tough as I thought. I think his comprehensive questions that Harris offered were as hard as I’ve seen. I’ve gone back and done all SS’s of his questions a couple of times but everything that was recommended put to memory is only right about 60% of the time. Still screwing up some of the calc’s with and equations with all-current and temporal. Going to hopefully be in full curriculum review by Thursday.
GMofDen Wrote: ------------------------------------------------------- > I’m about 12 hours into my studies of derivatives > and I have to say it’s really good stuff. I > wasn’t impressed with L1 Derivatives (for me it > seemed to just be use of forumulas and not that > much in the way of application), but L2 seems to > put a lot more together and it’s a lot more useful > and a lot more interesting. I’m hoping L3 gets > even better. > I haven’t hit the swaptions yet and figure I’ll > probably get hammered in the late part of SS17 but > all in all I like it. > > What are everyone elses thoughts? > > I came into derivatives a bit nervous but feel > pretty good about it so far. Budfox had some good > advice about how to approach it. I’ve liked the > Schweser videos on this topic. They’ve helped a > lot. I figure I have another 15-18 hours more to > go on it but am looking forward to moving on to > the full L2 review. Wow, good for you. I was pretty confident with Forward, Futures, and Options, then once I hit Swap, I’ve lost my confidence with derivative. (now trying to go over CFA and Schweser swap questions to build my understanding)
man, i hope the fsa on the test is less brutal than i’m imagining it to be. i JUST started reviewing fsa by going over john harris’s black notebook and doing the questions in there. i think i spent most of my time so far focusing hard on quant, equity and derivatives, saving this review for last because i wanted it to stick, so it’s a little disconcerting because i hadn’t focused on it in a while. i’m not sure what the best way to review is. i plan on reviewing the harris notes, doing all the questions, then doing all the questions in the cfa text. got suggestions?
The only reason I think it’s going to be less brutal is that we only have 3 minutes per question. That doesn’t leave a wholeeee bunch of time to make too many adjustments. (Although I’m not test time confident in FSA) What I’m nervous on missing is going to be some sort of non-numeric question on let’s say Cumulative Translation adjustment. A question that is real wordy with 3 of the 4 answers sounding possible. Some of the things he said still resonate and simplify stuff. I.e. there are only 2 adjustments that need to be made with annnyy off balance sheet item. I missed some questions on the FSA hedges. I’m thinking that’s going to have a couple of q’s on the exam.
cool. will have to see how i feel post-review.
How long are you going to review FSA?
not sure. a week maybe?
Good luck. I’ll be right behind you. I was thinking about the same amount of time and hopefully it’ll do the trick. Take care.
yup. we’ll check back in on progress. good luck.
hi guys, cudn’t have made it to john harris…any one want to share d materials?