CFA Jay Wrote: ------------------------------------------------------- > purealpha Wrote: > -------------------------------------------------- > ----- > > Yeah, the knowledge is broad, but really good > > stuff…however you can get that from just > buying > > the books. > > > Your right but casual reading and hardcore > studying are 2 different animals. Its would be > hard to really learn (imho) the curriculum if you > were not gearing up for a test. I would be shocked if anybody could put themselves through that without an exam at the end. Those who could likely would not need the CFA anyway.
CFA Jay Wrote: ------------------------------------------------------- > purealpha Wrote: > -------------------------------------------------- > ----- > > Yeah, the knowledge is broad, but really good > > stuff…however you can get that from just > buying > > the books. > > > Your right but casual reading and hardcore > studying are 2 different animals. Its would be > hard to really learn (imho) the curriculum if you > were not gearing up for a test. Very true. Reminds me of the Bobby Jones quote: “There’s golf and there’s tournament golf …and the two are not very much alike.”
purealpha Wrote: ------------------------------------------------------- > Yeah, the knowledge is broad, but really good > stuff…however you can get that from just buying > the books. But you aren’t paying for the knowledge - your paying for the validation that you learned the material and the creditability of the CFAI to provide that validation. Anybody can buy/read the books but not everyone is going to be willing to put the time in to validate they learned what they just read.
Yeah, it is true you won’t load your brain to an unnatural level without a driver. For me a lot of that stuff “stuck” because of my jamming for the exam for 5 months, so yeah. But I talk to CFAs and they say they just memorized and forgot everything! Anyhow I find myself opening the books still all the time, I dig for a specific thing, and apply it in my work. Less broad study but deeper and for some reason I never forget something if I’ve applied it in the real world. But I forgot all that arbitrage triangle crap for example, no use for it. Nobody can ever forget RF+ bla bla x beta, yada yada. Burned into memor for life!
But even if you forget 70% of what you “learned” you at least know how to find it quickly and all you need to do is refresh your memory rather than teach it to yourself all over again.
+1 gik48
My experience is that when I was applying for job shortly before my Level I exam (passed), I felt much more confident in answering specific questions that mostly come from the junior interviewers. In my opinion, CFA programme shows you also the way of thinking and chances are much lower that you get caught unprepared by e.g. a valuation question or case study. With the senior interviewers it was often a good topic for discussion since many of them were CFA charterholders or candidates. On the other hand, studying for the exams is something you do basically every day. Otherwise when you come back from the office you would probably never spend half the time with finance books - since you do not see any immediate goal and deadline ahead of you. Depends on individual motivation though…
aramin79 Wrote: ------------------------------------------------------- > I keep wondering this one point, especially > reading people’s personal experiences and lack of > expectations for any tangible benefit from > obtaining the charter. > > I, for example, work with a CFA charter holder (w/ > MBA) who has the same position as me and, in fact, > I think my area of responsibilities is much > better. This has not been very motivating when > studying for the CFA. > > So I’m looking to hear from other people to see > why you guys are putting yourself through this. I, > for one, think I’m only going through with this > because I started it, and I just don’t want to > quit half way through. Other than that, perhaps > I’m just a glutton for pain and need an excuse to > stay sober for 4-5 days a week. Do all Harvard MBA’s become US presidents. CFA/MBA/PhD/FRM/Actuary, these give you skill sets not potencial. If you get a CFA you would be better than the guy sitting around you.
Because CFA is a beautiful girl and you would like to pursue her.