Ok honest Q guys, how “bulkier” are CFAI books compared to Schweser? I have CFAI books and I feel they aren’t too bulky “they only look so bcz of the appendixes, glossaries, etc at the end of each book”… so my 2 cents, I believe you’ll spend almost the same amount of time reading CFAI books compared to schweser…
Usif says: “I believe you’ll spend almost the same amount of time reading CFAI books compared to schweser…” Given that you do not have Schweser and are still confident to publicly state the above, I am looking forward to the day you do become an analyst and I will be able to trade against the people going by your advice …
I love this site!!! Besides being a great source of info, I enjoy the occasional comments from unsecure candidates with serious attitude problems, although, to be honest, it’s quite scary to realize that we still have such mentalities in the investment profession!! lol FourCastles, my bud, I have schweser notes, and you can trade against my advices alll you want, well that is if you make it as an analyst in the first place with that attitude! GL 2 all.
CFAHouston Wrote: ------------------------------------------------------- > I agree Caspian. Lots of things that were barely > mentioned in Schweser were highly tested in CFAI! CFAHouston and Caspian, What specific Level II subjects fall under the category of being underemphasized by Schweser? Thanks in advance, dea
Good question dea, i 2nd tht.
I agree with turk-izzle…DOUBLE DOWN.
dea, i think Schweser did a terrible job at Quant, Derivatives, PM, and Fixed Assets, IMO.
I used Schweser for L1, disappointed; switched to texbook + Stalla for L2; going with Textbook + stalla for L3 (lucky to pass L2 in one go). Schweser and Stalla prep is centered around core concepts, but CFAI did not bother grilling on the core concepts. For example, 1) Fixed income, the core concept is MBS valuation - but lopsided number of questions came from asset backed securities - most of them theory / memorizing type ones. 2) PM - questions were very unfair, i thought. There was question on corner portfolios, which is covered in L3. I could not even understand some of the questions… 3) Economics - L2 Eco is focused on forex, but questions were around growth theories 4) FSA - MNC is core concept; but there were some ridiculously easy questions in there and harder and more number of questions in FAS115, and FIN46 5) Derivatives - Stalla and Schweser expects you to memorize many of the formula; so i skipped the difficult Swap formula - in the exam, they gave the formula and asked to plug and play - I could not do it.
"What specific Level II subjects fall under the category of being underemphasized by Schweser? " It wont be duplicated this year, but I think its safe to say, since I passed all the major sections, that the minor sections hurt me, thus I feel they were undercovered (at least in comparison). Specifically, and Im not the only one who will say this, the Portfolio Management section in schweser was a joke and I would not be slightly surprised to find out I got 1/6 questions correct.
Certain things are also “underemphasized” by CFAI as well. For instance, how many pages are written about forex v. growth theories in econ, and what did we get? Growth stuff. I have not done any analysis, but my guess is that Schweser simply reflects the attention CFAI gives to specific material. Any ideas?
Re Schweser- Some areas adequate, some not. I plan to to use CFAI material to cover the holes in Schweser and review notes where I was strong, like FSA. The notes just don’t give you enough info to understand the material in some areas- maybe you can regurgitate it on a test- but if you are like me and want to learn the concepts- you risk a fail…
“i think Schweser did a terrible job at Quant, Derivatives, PM, and Fixed Assets, IMO” Just to build on what Houston had to say, other than Derivatives, I had problems on the other three sections and I think Schweser was inadequate in covering those sections. I am on record saying this before the test.
I’m a first-time level 2 taker. I’m wondering if any of you have an opinion as to whether Level 1 specific content will be on the Level 2 exam. For example: the L2 FSA book is small and it’s supposed to be something like 15-25% of the exam. Is it worthwhile to go back and review a large portion of L1?
Dont worry about Level 1 stuff.