Do they ? Why would they need one?
they are experts and strong believers in the strong efficient market hypothesis
Most of the top managers (Julian Robertson, steve mandel, seth klarman, etc) don’t. Most of the less well-known ones don’t, either. Of all the prospective managers I’ve met, I don’t think a single one had the charter. There were some senior analysts and pms that did, though. I think part of the reason is the education credentials required to get into that position. If you have an mba from harvard or wharton, why bother with the cfa?
I think you’d be surprised by the number that do. I admittedly can’t name any off the top of my head, but plenty of big names in the industry have it and I’m sure that extends to HFs. Bill Gross and Bill Miller both have it, as did Bill Donaldson. Lesson: If your first name is William get to studying now.
can’t name many of the 10B+ plus but know plenty of $2-5B that do.
I used to have access to bigdough.com and did a search for PMs with CFAs, it’s not small by any means. If they don’t have CFAs, they likely have an MBA from a top 5 finance program. Klarman and others mentioned without CFAs have MBAs from top schools.
Bill Gross doesn’t have a CFA charter. Investopedia lists him as having “certified” financial analyst credentials, lol. http://www.investopedia.com/university/greatest/billgross.asp
No point. Why bother with CFA when ur making bank anyway. Like going back to biz school when ur making millions already. Whats the point unless your going to make more?
NakedPuts Wrote: ------------------------------------------------------- > I think you’d be surprised by the number that do. > I admittedly can’t name any off the top of my > head, but plenty of big names in the industry have > it and I’m sure that extends to HFs. Bill Gross > and Bill Miller both have it, as did Bill > Donaldson. Lesson: If your first name is William > get to studying now. Bill Gross studied for the CFA? That’s news to me.
Marty Whitman has it, but I believe he thinks it’s shit.
When did these people study for it? It must have been before they became rich and famous. Imagine walking in your Level 1 center in June and seeing Warren Buffet sitting next to you, with in his hands, 6 sharpened pencils, 2 calculators, a passport, and the printed version of the CFA ticket.
- The title of this thread is an ethics violation. 2) “Hedge fund” is two words. 3) The CFA charter only came into real popularity this decade. Most of the current established hedge fund managers had already moved far enough up the ranks by then to not need additional certifications and credentials. I hate to be cynical but the greatest utility of the CFA charter for me is to gain respect and open doors to job opportunities. If I was a successful manager with a track record already I wouldn’t bother with it. I come in contact with people across the industry every day and a lot of the younger managers and senior analysts, ones that came of age in the last few years, do have their charters.
Bill Gross is a CFA charter holder. But the fact of the matter is that once you have good work experience in the markets and deep understanding of managing money in your asset class the CFA is pretty much useless. Until then the CFA might give you a leg in preparing you for that experience. Past performance & experience is all that really matters in this game. That being said every big buy-side shop will have plenty of CFAs, long-only or hedge fund. If your under 30 years old and still trying to make a name for yourself I would go for the CFA even if you went to Harvard and worked at Goldman Sachs Asset Management.
JohnThainsLimoDriver Wrote: ------------------------------------------------------- > 1) The title of this thread is an ethics > violation. > 2) “Hedge fund” is two words. > 3) The CFA charter only came into real popularity > this decade. Most of the current established hedge > fund managers had already moved far enough up the > ranks by then to not need additional > certifications and credentials. I hate to be > cynical but the greatest utility of the CFA > charter for me is to gain respect and open doors > to job opportunities. If I was a successful > manager with a track record already I wouldn’t > bother with it. I come in contact with people > across the industry every day and a lot of the > younger managers and senior analysts, ones that > came of age in the last few years, do have their > charters. You’re a pretty serious guy hey?
storko Wrote: ------------------------------------------------------- > JohnThainsLimoDriver Wrote: > -------------------------------------------------- > ----- > > 1) The title of this thread is an ethics > > violation. > > 2) “Hedge fund” is two words. > > 3) The CFA charter only came into real > popularity > > this decade. Most of the current established > hedge > > fund managers had already moved far enough up > the > > ranks by then to not need additional > > certifications and credentials. I hate to be > > cynical but the greatest utility of the CFA > > charter for me is to gain respect and open > doors > > to job opportunities. If I was a successful > > manager with a track record already I wouldn’t > > bother with it. I come in contact with people > > across the industry every day and a lot of the > > younger managers and senior analysts, ones that > > came of age in the last few years, do have > their > > charters. > > > You’re a pretty serious guy hey? You’re a pretty serious guy hey?
Me? Nah, I’m pretty chill. How about you?
ConvertArb Wrote: ------------------------------------------------------- > they are experts and strong believers in the > strong efficient market hypothesis are you implying that hedge fund managers are strong believers that not even inside trading will achieve profits? I would think they would be believers in the semi-strong hypothesis
philip.platt Wrote: ------------------------------------------------------- > ConvertArb Wrote: > -------------------------------------------------- > ----- > > they are experts and strong believers in the > > strong efficient market hypothesis > > > are you implying that hedge fund managers are > strong believers that not even inside trading will > achieve profits? > > I would think they would be believers in the > semi-strong hypothesis It was a joke. Did you not pick up on the sarcasm?
I heard George Soros and Warren Buffet just started learning for the CFA Level I (After failing in the Dec 2008 exam). They basically have a weekly study group together (George W. Bush also desired to join their group, but they denied him due to his low high-school GPA).
Due diligence, people http://www.allianzinvestors.com/mutualFunds/profile/PMTR/about_A.jsp What are those weird letters after the managers name?