I am struggling to retain BF in memory. Could you please share you tactics in structuring and memorizing this part of the curriculum. I have made some notes, designed some tables for memorization but, honestly, I cannot remember a thing for a period of time longer than half a day and for as much as one part of the material, had exactly the same problem last time I sat for the exam)))… And it is the serious problem as I do not want to lose time on BF in the pre-exam week. How do you handle this part of the curriculum.
I have all 15 behavior biases/errors memorized as well as the profile drawings memorized (BB&K, Pompain BIT, and a few others that dont have names).
Each day, I write down all 15 bias and how to over come them, what the cause is etc… I also draw out the profile pictures daily for the last 45 days. I plan to write it out daily until the test date. It’s pretty easy now, I can almost do it while half a sleep. On top of that, i also write out various other things such as the micro/macro attribution rules, ERM rules, MVO criticisms to name a few… all daily. It takes about 1 hour a day to do this exercise on top of regular studying.
The answer to your question. Do the time, and u will memorize.
Thanks. One follow-up question: how do you handle the segment “BF and Investment Process”, are you memorising the set of biases relevant to all sub-topics, e.g. analysts’ forecasts, market behaviour, etc…
Make an acronym for the biases, I used:
RICCH and FAMA for the 9 cognitive biases and LOSERS for the 6 emotional biases.
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Write down and memorize what you cant remember.
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What you already remember, dont write down and study
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What you think will be on the test, make sure you memorize.
I know acronyms and biases, but there is a lot more to BF than that
cfaonceagain2019, you may consider adopting a few of study strategies presented in the following paper by John Dunlosky. https://www.aft.org/sites/default/files/periodicals/dunlosky.pdf