no let up in sight…go figure.
I was reading PM on Monday and Tuesday, hoping to finish PM completely and finally begin reviewing ALL the subjects. Unfortunately PM so long and boring I had to stop. Didn’t do 70,71. Happy to start the review process, though, will have to finish PM later.
Don’t worry, Dreary, it’ll end. It’s what I do, so I actually enjoyed it. Readings 70/71 will require a bit of memorization. Some of the tax equations/relationships are a bit tricky at first glance. Done with schweser books 1,2,3. Started #4 today.
Cubemonkey, you are doing very well. How much are you able to retain. I tried FSA after a month and it seems all new to me! Dreary, apart from PM, Private equity is very long reading as well. S
i was hoping to finish PM today, but no such luck. it just won’t die
solarpower03 Wrote: ------------------------------------------------------- > Cubemonkey, you are doing very well. How much are > you able to retain. I tried FSA after a month and > it seems all new to me! > > Dreary, apart from PM, Private equity is very long > reading as well. > S I’d say I remember all of the basic concepts and ideas. Specific details and tricky equations, not so much, but that’s to be expected. If I’m done with the text by the end of the month, I should be set with March/Apr/May to drill and review.
Dreary Wrote: ------------------------------------------------------- > no let up in sight…go figure. You will feel the same way on the exam. ; ) Keep at it and you will be through before you know it.
I heard Buffet passed all the 3 levels, but he decided not to pay the CFA dues and not use the designation by his name then on… Since he thought that the paper setters did a pathetic job of preparing the Portfolio Management sections. Sources clamed to have reference to his results which show he had > 70% for all sections at all the 3 levels except Port Management where he was consistently < 50% at L1 and L2 and somehow managed a 50-70% at L3. Phew… the bugger almost nuked L3 because of PM.
International CAPM and tax stuff are sooooooooooo boring…
ahh well, u bet! Tax stuff is always very boring. We have to live with this fact, unless you are a ditchdigger.
I just got through readings 66 and 67. I was hoping that I was in the home stretch but I still have international CAPM and tax management to go…so close yet so far. I am hoping to start the review process (and relearning ethics) in March as well. Best, TheChad
swaptiongamma-the Buffett info, I would like to see any data or sources on this remark.
Treynor Black, to learn the actual formulas/calculations in depth or not, that is the question… The LOS’s never say calculate, yet if you head to the back of the CFAI chapter for questions, you need to calculate everything. For today, I’m going to move on, but tomorrow I think I’ll take the time and hammer out those few end of chapter q’s in the actual text. Might take a while. Crap, I’ve hit taxes.
tvPM - I was just fooling around. You will get used to more of me in a bit.
bannisja Wrote: ------------------------------------------------------- > Treynor Black, to learn the actual > formulas/calculations in depth or not, that is the > question… > The LOS’s never say calculate, yet if you head to > the back of the CFAI chapter for questions, you > need to calculate everything. For today, I’m > going to move on, but tomorrow I think I’ll take > the time and hammer out those few end of chapter > q’s in the actual text. Might take a while. > Crap, I’ve hit taxes. Ugh…I was wondering the same thing…I wasn’t planning on learning the formula, but I think I will chalk it up to one of those “if I have time” sections. Another area that I im categorizing under that area is FMCAR. Banni, did you learn the Treynor Black formula last year? On a side note, I have already had two test day nightmares and we haven’t even hit March yet… Best, TheChad
I don’t know what FMCAR even is so you’re ahead of me there. what is it? TB last year- formulas nope, but it was the item set in '07, so if you were at all a gambling person, you’d figure 2yrs in a row on treynor black would be pretty unlikely. you perhaps could go light on the instability of the minimum variance frontier this year if you were playing the odds. i think TB i’ll take the 30 minutes or so that it’s going to take to work through that one problem at the end of the CFAI reading tomorrow and after that, just vaya con dios. i feel like ICAPM should get tested- works so well with both quant and econ, but now with this new stuff on taxes (just had lunch, haven’t started this yet), who knows. i think chalking it up to an “if i have time” section sounds about right for the down and dirty of TB. the idea of active portfolio mgmt and basic concept questions about it, think i’m at a level of relative comfort.
FMCAR is in reading 66. At a high level, it simply measures the amount of risk that an active factor exposure contributes to the active risk squared of a portfolio. The actual calculation is a bit more of a pain. There are a couple of discussions on it around June of last year. I am not one to try to game these tests (especially with what I have heard about levels II and III) but I am finding it very difficult to absorb EVERYTHING. I think your strategy makes sense and has kind of been my thinking through my studies. Do you know if the calculation of Treynor Black was in the LOS a couple of years ago? I believe it was but I am not 100% sure. best, TheChad
chad- not sure about TB a few years ago, but i think it might’ve gotten into some light calcs? those maybe are just the dirty few q’s on the test that you figure everyone is going to mess up on. nobody can really learn EVERYTHING, can they? i don’t remember reading FMCAR at all in schwes’. let’s hope it’s not there. more importantly- WTF CFAI? yeah i’m talking about the new reading on taxes in PM. i do not have that many brain cells left and this is just a lot of new formulas to throw out there. yes, they are all easy but F if i’m going to remember them easily. i just did the schweser concept checkers on this section tonight and i’m wondering how on earth i will remember all of these formulas sans my notecards. and that’s even IF this shows up at all in the vast sea of PM. i really like PM, but this might push my brain over the edge. so many formulas, so little time. going to breeze through IPS now then be done with this for the evening. qbank better have a lot of these new tax formula whatever these are questions. allen iverson i am not- this is going to take practice. practice?