This is got to be the longest, and dullest reading in the entire book.
There is no way that such small detail will be on the test (maybe those 1/10 problems when you have no clue what the answer is)
Does anyone else agree?
havent gotten to that reading but is it many pages of theory without any numbers?
does it add any new info compared to hedge funds in L1 Alt, Inv. ?
lots of new info, but tons of minutiae, the most obscure info possible.
stuff thats hard to find on google, the citation list in the chapter is enormous.
The reason why I’m asking is because I feel a little guilty skimming some material but reading it it feels like an enormous waste of time. I try to get some quick highlights and move on.
what details man?
ask a few questions on this. I have done this reading once. Let me see what i remember
did you use cfai or schweser? schweser should simplfy it
Just remember the main points that appear over n over again on level 1 and level 2
Such as: bias in hedge fund indexes, main strategies of hedge fund, then if something else pops up in the exam… Juz make an educational guess and move on!
The schweser summary is definitely a lot easier to study than the CFAIs text. The CFAI text is up there with the chapter on Corporate Governance for the most needlessly long and wordy section of the syllabus.
I’ve got all the basics down (performance biases, higher moments risk etc) but keep tripping up on questions about all the different types of strategies, i’ll need to review it again in the 2nd sweep.
And is it just me or do hedge funds get no love from CFAI?
I totally get why, but jeez, not even really a suggestion of a possibility that hedge funds might be good for markets, it’s just a bunch of bashing on their risk and return biases. At least in the Schweser summary.
ya they should bash private equity and venture cap. instead
Even I faced the same issue. Schweser video helped. I paused dozens of time and made notes. This helped a lot.