I cannot find a better place to discuss CAIA exam. You are welcome as long as you are interested! (I use Schweser ) topic 1: Portable Alpha (pg 138-139) Examples: return: S&P 500 1.18% , HFR fund of hedge fund index 1.1% ; an investor has $100mm to invest in large-cap equities. portable alpha strategy: invest in s&p 500 indext futures and HFR beta for the HFR relative to S&P (beta =1) ): 0.141 So 14.1% of the beta is coming from funds, and the remaining (1-14.1%)=85.9% needs to come from the futures to get a beta of 1. this means that we need to purchase 0.859*100=$85.9mm worth of S&p index futures contracts. ==> How can beta be added up this way? 0.141(beta)*1(weight) + 1*0.859 =1 ? Am I right? to be continued

havent gotten that far, but i look forward to working with you over the next 3 weeks. i too looked for a CAIA forum and no luck.