Well, if he decides to become a train operator, I hope he can score 100 on the test and wait three years for the MTA to call him 
I read on some other forum that someone is coming in from Philadelphia and Colorado to take the MTA exam
CFAdummy, Too many â:)â and â:(â. Besides that, you are entertaining to read and I like your writing style - it is very direct.
No kidding, is he dinesh sudrani reincarnated? That clown used to start threads with just :)'s and :('s as the main topic.
Iâm better than Dinesh, I passed Level 2 last year I"m only joking. I hope you do well Dinesh, eventhough I donât know you. Youâll pass level 2 this year. I was surprised you didnât pass last year. Just use the force.
CFAdummy Wrote: ------------------------------------------------------- > I hope you do well Dinesh, > eventhough I donât know you. Youâll pass level 2 > this year. Thanks CFAdummy. I will try my best. Need a lot of hardwork and luck to nail this monster.
brianr Wrote: ------------------------------------------------------- > needhelp Wrote: > -------------------------------------------------- > ----- >> My question is who was paying this guy $750k a > year. They made seem like his hedgefund crashed on > takeoff so I doubt he was banking anything from > that. You would think he would have some contacts > to work. I read somewhere that he was an " institutional stock broker" ⌠so some kind of salesman to large institutions and most of his money was broker fees of some kind. Now to jump from that to HF manager, is a stretch, because I donât see what kind of edge this guy can offer to any investor.
dinesh.sundrani Wrote: ------------------------------------------------------- > CFAdummy Wrote: > -------------------------------------------------- > ----- > > I hope you do well Dinesh, > > eventhough I donât know you. Youâll pass level > 2 > > this year. > > Thanks CFAdummy. I will try my best. Need a lot of > hardwork and luck to nail this monster. Hardwork is undeniable but luck?
mo34 Wrote: ------------------------------------------------------- > I read somewhere that he was an " institutional > stock broker" ⌠so some kind of salesman to large > institutions and most of his money was broker fees > of some kind. > > Now to jump from that to HF manager, is a stretch, > because I donât see what kind of edge this guy can > offer to any investor. An institutional sales broker is essentially the intermediary on the sell-side that coordinates a relationship between a sell-side analyst and a buy-side analyst or PM. Someone in this role takes research from his/her sell-side analysts and repackages it (usually with very little value add, in my opinion) for distribution to the buy-side (not to be confused with First Call, which is mass distribution). So, for example, if you are a buy-side client with a position in GE, the institutional salesman will send you a report on GE with a little bit of extra color about what the analyst âreallyâ thinks as well as what sort of interest they might be seeing for them name on their trading desk (i.e., is it a hot or cold stock). These people get paid both with flat fees and trading commissions placed by the buy-side depending on how useful their clients feel the research has been. Youâre certainly right that salesmen donât typically have a strong analytical / investing skill set. They are basically glorified relationship managers. I donât really see how you could run a fund successfully with this kind of background, unless you were a successful analyst or PM prior to becoming a salesmen (but why would you intentionally do that?). So, net net, this guy starting a hedge fund was a sign of the top. I feel sorry for his kids, but not at all sorry for this guy. It seems like he thought he just start a fund with no clue and make a bunch of money because, hey, the market always goes up and everyone else is doing it! I find that attitude insulting to people who put years of hard work into learning the game and learning how to produce value for their clients.
^ well said. I agree
many top MBAs like those from UCLA think they âcan do everythingâ.
There is some luck in getting some of the answers. There are some subjective questions. Also, CFAI can pull any question they want. Last year there were no futures or derivatives questions to infinity. I was expecting some of those, but there werenât any. If they gave some of those, I would have gotten some of them wrong. I studied for portfolio but those portfolio questions were tricky. I did poorly in portfolio. brianr Wrote: ------------------------------------------------------- > dinesh.sundrani Wrote: > -------------------------------------------------- > ----- > > CFAdummy Wrote: > > > -------------------------------------------------- > > > ----- > > > I hope you do well Dinesh, > > > eventhough I donât know you. Youâll pass > level > > 2 > > > this year. > > > > Thanks CFAdummy. I will try my best. Need a lot > of > > hardwork and luck to nail this monster. > > Hardwork is undeniable but luck?