The "Be careful to:" Thread

CFA Level III
#41

Return presentation: - Ethics: gross OR net of management fees - Code: BOTH gross and net (together with fee schedule, projection of fees…) - GIPS: gross OR net of management fees MH

#42

Grinold and Kroner : - if real growth, use “g + i” - if nominal growth, use “g” i.e. without inflation already included in g. MH

#43

Utility adjusted return: use VARIANCE and not standard deviation

#44

bump

#45

Jscott24 Wrote: ------------------------------------------------------- > ahh - good to know > > > Include inflation BEFORE adjusting an after-tax > return to a pre-tax return this does not seem tke case within CFAI 2009 answers for the Individual IPS …

#46

Dsylexic Wrote: ------------------------------------------------------- > Accrual accounting for dividends in GIPS: > Recommendation -not Requirement thoought Accrual Accounting had to be used everywhere, even for divs, can anyone confirm or not whether it is mandatroy/recommendation? thanks

#47

It is required for fixed income securities… but only recommended for Dividends…

#48

is it not that in GIPS for Private Equity, we have to report both gross and net SI-IRR?? mhannebert Wrote: ------------------------------------------------------- > Return presentation: > - Ethics: gross OR net of management fees > - Code: BOTH gross and net (together with fee > schedule, projection of fees…) > - GIPS: gross OR net of management fees > > MH

#49

great thread! does anyone have the items mentioned above compiled in a single document? I hate to go through all these posts and create a document if someone has already done it and can share. Let me know. I am at asht70@yahoo.com

#50

If someone has compiled this thread just post it here, so others can benefit. Thanks

#51

Ashwin Wrote: ------------------------------------------------------- > great thread! > does anyone have the items mentioned above > compiled in a single document? I hate to go > through all these posts and create a document if > someone has already done it and can share. Let me > know. I am at asht70@yahoo.com Cripes… I was going to post a fake email demanding that someone send me the list as a joke. HAHA I’ll add another: make sure you do not eat Mexican food the night before the exam.

#52

This thread’s fantastic. Good idea to add stuff now, as reviewing. Would add for commodities forwards/futures: - lease rate reduces the forward price - storage costs increases " " - convenience yield reduces " " I ate Mexican the night before the L3 exam last year… f****g dumb. Maybe I don’t deserve to pass.

#53

malek_bg, in the 2009 exam they gave the AT expenses & pension income as of the 1st retirement year. So, no need to inflate?

#54

This is a great thread! does anyone have all these in a single document and can share? I am at asht70@yahoo.com I hate to go through all the posts and create a document from the scratch if someone has already done it.

#55

thats because you are lazy

#56

boston21 Wrote: ------------------------------------------------------- > thats because you are lazy no, because I am smart. I’d rather not repeat the unnecessary labor and use that time to create something that I can share with others.

#57

Subtract the initial amount when calculating tax drag in accrual taxation.