The Question --- which AM topics do you like the best, which ones do you want to hide from

CFA Level III
#1

I’m assuming this gets posted every year… well, we’re at the end… Which topics are you most comfortable and hoping to see… which ones do you want to avoid?

Hoping :

  • Derivatives (including risk derivatives)
  • Fixed Income
  • GIPS
  • Trading
  • Performance
  • Institutional

Neutral :

  • Individual
  • Equity
  • Econ
  • Behavioral

Avoid :

  • Asset Allocation
  • Risk Management (Concept & Qualitive)
  • Industry & Professionalism
#2

My strongest areas are private wealth, institutional, econ, and fixed income (borderline here with neutral). I’ve worked in private wealth management for 10 years so some of these topics are a blessing for me.

Everything else is neutral except for performance evaluation and equity. Equity is a real wild card. Depending on the questions I might be OK or completely up the creek. Same with Performance eval. Some of those mico/macro questions send me for a loop. Still, don’t want to tell myself I’m afraid of anything just yet. Give me 4 solid weeks of study and a week off before the exam and I’ll impregnate the…

#3

AM session

Avoid:

Alts, Asset Allocation, Equity, GIPS

Neutral:

Private Wealth, Institutional

Hoping:

FI, Econ, Performance, Trading, Risk Mgmt, Derivs, Behavioral

#4

My favorites are anything that involve a clear answer. For example; how many futures do you need to change this allocation? My least favorite topics are along the lines of : describe one advantage of how Asset Only allocation is better in this particular situation, compared to an ALM approach ?

#5

I just started doing practice questions yesterday so I am probably screwed in all honesty. However, at least there seems to actually be a consistent theme with your responses…sounds like Equity and Asset Allocation aren’t too fun. My scores so far reflect that : /

Econ, FI, and Dervs (work everyday with them) and I am actually pretty golden on I think along with Behavioral. Institutional, Alts and Trading I am neutral on… rest needs some serious work.

#6

“Determine whether Bob is correct in saying that benchmarks are problematic when comparing long/short equity neutral hedge funds. Describe 2 alternate approaches to measuring hedge fund performance as they relate to the information provided”…

(2 minutes)

#7

I go for Econ and Derivatives/Risk first.

But then I saw the 2015 AM exam, and they asked about permanent income hypothesis…