Hello All, This is my first post and I will be taking the June 2008 Level 1. Are there any recommendations for a pre-level book to read before I start studying in the winter. I have heard about Schweser Pre-Level 1 Basics is OK. Any suggestions will be greatly appreciated. Thanks
That’s the one, unless you have tons of time…
If I had tons of time which would you suggest?
I read it. Lots of errata and lots of holes. It’s one of the reason I went with Stalla for Level I (I passed) and not Schweser. Pick up used accounting, econ, stats and finance texts books. Work through the problems. You’ll be much better off. Use them to supplement the CFAI material.
The accounting material is difficult to read. I suggest an alternate text, which you could use as pre-level reading. Financial Accounting by Libby, Libby, Short. I believe 5th edition is the current.
Why not just register and get the books early and casually read them for now?
ymichael12 Wrote: ------------------------------------------------------- > Why not just register and get the books early and > casually read them for now? I think this is what I’d do. No sense in reading a bunch of topics that you won’t be tested on unless you are just looking for the knowledge in general. Stick to the curriculum FTW. What is your industry background?
ChadD Wrote: ------------------------------------------------------- > I read it. Lots of errata and lots of holes. It’s > one of the reason I went with Stalla for Level I > (I passed) and not Schweser. > I’m not aware of errata in that book but we don’t discuss it much on AF. > Pick up used accounting, econ, stats and finance > texts books. Work through the problems. You’ll be > much better off. Use them to supplement the CFAI > material. That’s definitely best if you have time. You could put that together with getting the notes and when they start off on something above your head you go running off to the accounting text. Of course all that stuff is available with Google, too.
JoeyDVivre Wrote: ------------------------------------------------------- > ChadD Wrote: > -------------------------------------------------- > ----- > > I read it. Lots of errata and lots of holes. > It’s > > one of the reason I went with Stalla for Level > I > > (I passed) and not Schweser. > > > I’m not aware of errata in that book but we don’t > discuss it much on AF. I wasted a whole study period because they forgot to put in a line break. This was prior to having substantial accounting knowledge and understanding the format of an income statement. Additionally, there are yen signs instead of astericks and whole slew of other funk ups. Also (and probably the biggest rip off about that book) is most of the info in the pre-CFA text can be found in the intro sections of Schweser notes. > > Pick up used accounting, econ, stats and > finance > > texts books. Work through the problems. You’ll > be > > much better off. Use them to supplement the > CFAI > > material. > > That’s definitely best if you have time. You > could put that together with getting the notes and > when they start off on something above your head > you go running off to the accounting text. Of > course all that stuff is available with Google, > too. I did have the time. I started studying last August for the June 07 exam.
I think that is a good idea to get the materials ahead of time and casually read everything before starting for real in Jan/Feb. I have been working for an asset manager the past 6 months. Any other suggestions or recommendations?