Today goes to: “Minimum Variance Hedge ratio”
I liked it 
It’s simple to derive if you just equate first derivative to zero. Other than that I have forgotten what exactly it is 
How’s everyone doing on retention. Everytime I look at something, I just get this vague feeling of “oh, ya, that sounds familiar”.
Retention is BAAAD, dont get me started…
it’s because it’s all so wordy. the hard number stuff seems easier to retain…
Seriouly, the more I study, the more I feel that I don’t know anything.
I’m on the same page with you guys. It’s getting frustrating. I’m on my third time through the Schweser stuff and it almost looks new every time. But, I felt the same way last year. It’s in there guys. Just need a good strong finish to bring it out. Keep working hard and don’t panic.
I just looked at the little Schweser book “What a level III candidate should remember from level I and II” Talk about a way to set off panic.
I’m in the same boat which is why I feel like I’m struggling with L3… With number crunching, you do enough of the questions and it stays ingrained in your head. With general concepts, it’s harder because it requires memorization of detailed points you’d have to write down on an exam without actually seeing the answer (morning session where it’s written). Here’s hoping I can actually remember all this stuff for the exam. P.S - Are you guys memorizing lists of things? For example, list and explain 2 problems with Classical Immunization or List 3 problems with using the Sharpe Ratio for certain types of Alternative Investments etc… List the steps in developing an effective ERM system etc??
Share your pains as well PJStyles. v. frustrating in deed!
I just learned how to spell SAMURAI…
That little book what a L3 candidate should know. Is it worth it? I feel it’s more beneficial to really attack the L3 material. And to answer your question re: the 2 negatives of classical Imminization, etc. I’d say we gotta pull all that stuff out on exam day. Can’t leave it to chance.
Mr.Good.Guy Wrote: ------------------------------------------------------- > I just learned how to spell SAMURAI… funny cause that is THE ONLY Acronym i found useful.
What about TURRTLL ? T - Time Horizon U - Unique circumstances R- Risk Objective R- Return Objective T- Taxes L- Legal & Regulatory
You forgot the last L - Liquidity
IPS you need to know cold, no Acronyms for IPS.
damn …i knew i was off somewhere …
Rudeboi, I think TURTL is separate from Risk and Return. So first: Risk and Return Objectives Considered in the light of TURTL constraints… T - Time Horizon U - Unique Circumstances R - Regulatory and Legal Requirements (i.e. ERISA and the foundation/endowment equivalent) T - Taxes L - Liquidity Needs. It’s true that you need to know these cold, but I don’t think there’s any harm in remembering the acronym just as a check to make sure you have all bases covered. Add “Ethics” and you’ll get TURTLE, but I guess your risk and return objectives don’t need to be ethical… 
Rudeboi Wrote: ------------------------------------------------------- > What about TURRTLL ? > > T - Time Horizon > U - Unique circumstances > R- Risk Objective > R- Return Objective > T- Taxes > L- Legal & Regulatory If you need an acronym to remind you of those constraints, you’re in bad shape
How about DRUNK D - Don’t do anything illegal R - Risk and Return U - Unique Circumstances N - Not now, later (time horizon) K - Keep taxes low
bchadwick Wrote: ------------------------------------------------------- > How about DRUNK > > D - Don’t do anything illegal > R - Risk and Return > U - Unique Circumstances > N - Not now, later (time horizon) > K - Keep taxes low that will be my aim on june 7 th after the exam …