for endowments… how testable is it?
very
95% confident…
Get it down cold bro.
reasonably testable… but i cannot get my mind around it… so wont waste too much time remembering it
95% of 100% chance 
wait until the last couple of days before the exam and just memorize it for the test then let it all dribble out after
Don’t let some of the people in this forum scare you. Contrary to percieved wisdom you can have small holes in your knowledge! Very very few people go into d-day knowing everything perfectly.
SkipE99 Wrote: ------------------------------------------------------- > wait until the last couple of days before the exam > and just memorize it for the test then let it all > dribble out after exactly my strategy for a lot of nasty formulas
heck might as well memorize it on your way into the exam, jot it down on scrap paper right when you start, and voila! your a CFA
ahem cfa charterholder!
Not to scare any…just copy&paste…pretty?
Spending(t) = Smoothing rate x [Spending(t-1) * (1 + Inflation(t-1)] + (1 - Smoothing rate) x (Spending rate x Beginning market value(t-1)) – shrinkage estimate? times series? inflation again? BMV – like GIPS stuff.
dampen the extreme effect of market volatility several years ago on the spending , more stable and higher risk tolerance
deriv108 Wrote: ------------------------------------------------------- > Not to scare any…just copy&paste…pretty? > > Spending(t) = Smoothing rate x > + (1 - Smoothing rate) x (Spending rate x > Beginning market value(t-1)) > > – shrinkage estimate? times series? inflation > again? BMV – like GIPS stuff. Thanks for the refresher on this.