Mortgage Backed Securities by Schweser (Just a vent)

Was anybody else appalled by how horribly that particurlar topic was “covered” in Schweser notes? While trying the EOCs there were at least 10 questions where I had NO IDEA what they were talking about. Things that were simply not touched upon in the Schweser Book, not even a bullet point. Terrible…

In my opinion, Schweser does a horrible job at covering the level 2 curriculum compared to how they did with level 1. Also from speaking to people, the number of those who passed seems a lot higher among those who revealed they prepared using the CFA I text than those who did using Schweser.

I watched the Elan videos in addition to Schweser notes. I did ok on the CFAI EOCs.

Admit it’s a hard topic though.

I think schweser did a good job for MBS.

Just wait till you reach ABS…thats hard

I hated this topic!! Need to go over it again

i thought the schweser MBS section was pretty good but I’m yet to do the non multiple choice EOC’s. There are always a few questions in there that aren’t covered in schweser but 10+ is excessive.

Agree that the ABS section of schweser is terrible, not sure if that’s down to how it’s written or just the content though!

When I get home I’ll try to find my workbook and will enumerate the exercises that I pretty much guarantee you can’t solve using schweser only! (Assuming you have no previous experience or knowledge of MBS’s whatsoever).

I am now at the ABS part. ARGH, I hate this stuff… I’m so late with my first pass …

Schweser skipped most of the tranches in a CMO structure!!!

Three weeks ago I was teaching in Toronto, and one of my candidates said that she hates fised income in general, and mortgage-backed securities in particular. We spent about 45 minutes talking about pass-throughs, then POs and IOs, then sequential tranche CMOs, and, finally, more complex CMO structures. Her conclusion? “Now I don’t hate fixed income quite as much.”

I deal with MBS a lot in my work. What are you guys struggling with? It’s really not rocket science. And things like IOs have interesting pricing characteristics (the “kink” in the price with rate movements). Fun stuff :slight_smile:

Although I don’t know for sure, I suspect that when you say this, you’re being metaphorical (or a smart-aleck).

In addition to having worked with MBS a lot myself (I analyzed mortgages at PIMCO for six years), I spent ten years as a warhead designer. When I say that this stuff isn’t rocket science, _I’m giving a prefessional, expert opinion: I used to be a rocket scientist. _


this belongs here, lol

Man, seriously, WHO ARE YOU :smiley: , You sound like the Emanuel Derman equivalent for CFA !

God, is that you?

You guys are too funny!

I dont know about rawraw but I wasnt being sarcastic at all! Your background looks insane. AF’ers are lucky to have you here :slight_smile:

S2000magacian sir hlp me

a) I have done 2700 scswer q bank questins and secured average 71%, I feel i am doing poorly.

Please tell me what should i do in last 25 days to pass

I bandly need to pass frown