Hi people, As my girlfriend is waking up, I decided to take a break and share my messed up study schedule with you. Here it starts: Early december: I registered for the exam and got my CFAI books. I had promised myself to start early, take my time and study well. So I skipped ethics and started to read behavioral finance. After 10-15 pages of struggle, I decided that CFAI readings were way too long for me and that I should go with stalla. January: I opened the stalla pack and saw 4 tiny books. I was so happy with the amount of readings I decided to take a 2-week break. Then things got bad. Due to extreme lack of motivation and issues at work, that 2 weeks got longer and longer. I was unable to start. I remember saying “I will start next week” probably 6-7 weeks in a row. March 15: I finally pulled myself together and took a stab at the readings. Given the short amount of time left I made a study plan. I would read all material very fast, establish a base, and go back and study hard over them again. My plan went ok at first. In the first 20 days, I read the material, read it so fast (even faster than I would read Harry Potter) I was already in the middle of SS 16. Thats almost 5 study sessions a week. Then I stopped. Things at work got worse and worse. I had lost motivation again. A few weeks past, I just wasn’t able to study. Then I realized: there was no way I could pass this exam!! April 30: I quit my job. I was so relieved. My confidence came back. I thought there is no one exam that I cant pass with 5 weeks of full time studying. So I took things slow. First week I moved to NY to my girlfriend’s. Second week I finished rest of readings. 3 weeks b4 the exam: It suddenly hit me. 3 weeks!!! I had barely studied. I tried to think of what I learned so far. All that came to my mind was words like “portfolio beta, MDUR, futures, risk/return objectives” I couldn’t even list half of the study session topics. So since then I am studying as hard as I can. Today: 10 days to the exam. I think until now my studyings equate to about 100 hours. There are 10 more days. I think I can average 10 hours a day, which brings it up to 200 hours. I am thinking 100 hours is more than 1/3 of recommended study time. Besides last min studyings will be more efficient bcoz of greater retention ratio. Also, since I know that I wont have time to get back to what I am studying, I will be forced to engrave the information my head. So bottom line is, it is mathematically possible (100 hours of studying). I havent given up, and I wont give up. As long as it is mentally possible, I should pull this off.
I am in the same boat, with similar mistakes/weaknesses (i.e kept delaying since dec, studied from schweser very quickly, put only about 100 hours until now etc), except that I need to get to work this week. but yes, 100 hours is possible (not just mathematically - i did it last time). i haven’t given up either! all the best!
You could do it - we all procrastinate to some degree. Here is where I’d focus my efforts… (1) Focus on the Sample Tests (2) Focus on review on Ethics & GIPS (3) know the major Behavior FInance Names (there are lists on AF - mcg79 had an awesome list) (Search for ‘Behavioral Finance stuff’ (6) Focus on SS #1,2, 4-5 (IPS), SS#6-9,11-13, and GIPS - then whatever else you can pack in on top of that. (7) Hammer the problems in Reading #38 That should get you in an ok place… Anyone else have any thoughts?
I am in a similar position too. Will see how it goes. I like Data Monkey’s suggestions. Might just use that to study, that way if I fail I can blame it on him (is a term for this?), I really should have studied harder.
attribution bias…
Turkish, minus the initial good intentions (I did not have them), and the quitting part, your timeline, progress and approach (read very, very fast initially, then return) pretty much mirror my own. Your target of 100hrs/10hrs per day is also exactly what I am logging. Finding it quite difficult (stressful, in fact) to let go of GRAT, the diff between loss aversion and regret minimisation, BRICs etc. to focus on the big stuff… but progress is swift. I think I am in territory where I have a chance and now need to reach the comfort zone. P.S. as someone who has thought about the matter in depth, whoever above put behavioural finance at their number 3, I really have to disagree with. Behavioural will be max 15mins of the exam and a pleb would score probably 50% of those marks. We all know loss aversion, overconfidence, status quo, anchoring… Good luck… and to everyone else too… my philosophy is that failing would be bad, but failing from lack of effort in the last 10 days would be shameful, so stick with it.
that wasnt a priority list - just a checklist of Major Focus and Quick Wins (BF should be a quick read with Mcg79s list. - might as well add 15 pts when it can be easily done.) I can see now that I deleted #4, #5 which were Implementation Shortfall Calculation and Plain Vanilla Swaps diagrams
This does not make me feel better …
Ah so now they come out of the woodwork. I spent more time building a dangerously cool excel study plan than I did studying about 6 weeks ago. It’s really something. Last week I realized that I’d read 1 book out of 5 (schweser notes). Some serious hard graft the last 5 days and I’m now at a point where I can complete the readings by next Monday night if I read 105 pages per day. Up to Reading 39 now and so full of caffeine I don’t think I can stop typinggggg
thanks that actually did help…you guys are f’ed (kidding!) 10 hours a day? In all seriousness I have put in lots of 6 - 9 hour days but more power to you if you can do it. I just get too tired