CFA Preperation

[Delita]

Could anyone who has taken the CFA exam recommend some preperation books for level 1.

 

[LegendKiller]

Schweser. Secret Sauce.

I used Allen Resources for Lvl1, Schweser for II and III, passed all 3 consecutively with that.

Make sure you read the books though. CFAI is conforming the books to the LOS. LOS' feed directly into the exam questions, so you *need* to read their stuff even more so than before.

Crappy thing about that is that it'll all be plastic bound copied stuff, no nice hardcover books from Fabozzi and others.

I hope you're not taking lvl1 in a month.

 

[DVK916]

For comprehensive test on finance, the CFA is missing some big topics like

Duration, Modified Duration, Convexity, Immunization, and Increasing Annuities.

 

[LegendKiller]

Originally posted by: DVK916
For comprehensive test on finance, the CFA is missing some big topics like

Duration, Modified Duration, Convexity, Immunization, and Increasing Annuities.

and you know this how?

Every post I see of yours I think you are a bigger doof. It's hard not to since you're either whining, bragging, or spouting off about crap you have *NO* idea about.

From: Fixed Income Analysis for the CFA Program
Frank J. Fabozzi, PhD, CFA

Glossary

Duration.

P 255-267. See also Cash Flow; coupons;Dollar; effective duration; empirical duration; implied duration; Macaulay duration ; modified duration ; option adjusted duration ; portfolio; rate duration

Calculation, 255-256
contrast. See Modified Duration
estimates, 259-262
first derivative, 264
interpretations, 263-265
measures, 507-512
time, measure, 264-265
usage See percentage price change.
Graphical depiction. See Price

Duration/Convexity approach, 255

Convexity
247, 255, 267-271. See also effective convexity; modified convexity; negative convexity; adjustment. see percentage price change. approach. see duration/convexity approach
measure, 267-268, 545
scaling, 269-271

I know that immunization is in there, because I had a question on lvl2 about it, I mainly can't find my portfolio book. As far as increasing annuities, who gives a rats arse? If I wanted to become a monkey financial services cold caller I'd have taken the CFP which is nothing compared to the breadth and depth of the CFA. The CFA isn't about annuities, although lvl3 has quite a bit of material about overall portfolio management.

You really need to not talk about subjects you know nothing about.

 

[DVK916]

Originally posted by: LegendKiller

Originally posted by: DVK916
For comprehensive test on finance, the CFA is missing some big topics like

Duration, Modified Duration, Convexity, Immunization, and Increasing Annuities.

and you know this how?

Every post I see of yours I think you are a bigger doof. It's hard not to since you're either whining, bragging, or spouting off about crap you have *NO* idea about.

From: Fixed Income Analysis for the CFA Program
Frank J. Fabozzi, PhD, CFA

Glossary

Duration.

P 255-267. See also Cash Flow; coupons;Dollar; effective duration; empirical duration; implied duration; Macaulay duration ; modified duration ; option adjusted duration ; portfolio; rate duration

Calculation, 255-256
contrast. See Modified Duration
estimates, 259-262
first derivative, 264
interpretations, 263-265
measures, 507-512
time, measure, 264-265
usage See percentage price change.
Graphical depiction. See Price

Duration/Convexity approach, 255

Convexity
247, 255, 267-271. See also effective convexity; modified convexity; negative convexity; adjustment. see percentage price change. approach. see duration/convexity approach
measure, 267-268, 545
scaling, 269-271

I know that immunization is in there, because I had a question on lvl2 about it, I mainly can't find my portfolio book. As far as increasing annuities, who gives a rats arse? If I wanted to become a monkey financial services cold caller I'd have taken the CFP which is nothing compared to the breadth and depth of the CFA. The CFA isn't about annuities, although lvl3 has quite a bit of material about overall portfolio management.

You really need to not talk about subjects you know nothing about.

So I made a small error, those are on the exams.

I googled, but didn't find it so I assumed it wasn't on the exams.

 

[LegendKiller]

Originally posted by: DVK916

Originally posted by: LegendKiller

Originally posted by: DVK916
For comprehensive test on finance, the CFA is missing some big topics like

Duration, Modified Duration, Convexity, Immunization, and Increasing Annuities.

and you know this how?

Every post I see of yours I think you are a bigger doof. It's hard not to since you're either whining, bragging, or spouting off about crap you have *NO* idea about.

From: Fixed Income Analysis for the CFA Program
Frank J. Fabozzi, PhD, CFA

Glossary

Duration.

P 255-267. See also Cash Flow; coupons;Dollar; effective duration; empirical duration; implied duration; Macaulay duration ; modified duration ; option adjusted duration ; portfolio; rate duration

Calculation, 255-256
contrast. See Modified Duration
estimates, 259-262
first derivative, 264
interpretations, 263-265
measures, 507-512
time, measure, 264-265
usage See percentage price change.
Graphical depiction. See Price

Duration/Convexity approach, 255

Convexity
247, 255, 267-271. See also effective convexity; modified convexity; negative convexity; adjustment. see percentage price change. approach. see duration/convexity approach
measure, 267-268, 545
scaling, 269-271

I know that immunization is in there, because I had a question on lvl2 about it, I mainly can't find my portfolio book. As far as increasing annuities, who gives a rats arse? If I wanted to become a monkey financial services cold caller I'd have taken the CFP which is nothing compared to the breadth and depth of the CFA. The CFA isn't about annuities, although lvl3 has quite a bit of material about overall portfolio management.

You really need to not talk about subjects you know nothing about.

So I made a small error, those are on the exams.

I googled, but didn't find it so I assumed it wasn't on the exams.

So, you could google about that, but not about your stupid money question? Furthermore, you googled and expected to find a detailed list of topics, when you could have easily gone to www.cfainstitute.org to get a Learning Outcome Statement topic list on any level of the exams?

Did you just expect them to give learning resources away for free? You shouldn't assume anything. Do you really think that the CFA cirriculum would miss such important information in the valuation of bonds? Hell, they have one of the worlds foremost experts on bonds (Fabozzi) write a whole book for them on JUST bonds, it's 711 pages long and you read all of it.

It's not a small error, because you have probably been going around saying "Man, that CFA exam sucks, it doesn't even have this and that", when, instead, you really have no idea about the subject, you merely pretend to.

Don't go badmouthing stuff unless you have the goods. I may be coming off as a little harsh, but I don't go around badmouthing stuff I have no idea about and if I do, I preface it with "I think...", not a certain factual statement.

 

[b0mbrman]

Originally posted by: DVK916
For comprehensive test on finance, the CFA is missing some big topics like

Duration, Modified Duration, Convexity, Immunization, and Increasing Annuities.

Those sound like great preparation books for level 1.

Very helpful post :thumbsup:

 

[randumb]

Originally posted by: DVK916
For comprehensive test on finance, the CFA is missing some big topics like

Duration, Modified Duration, Convexity, Immunization, and Increasing Annuities.

Originally posted by: DVK916 from another thread asking if Interest Immunization is on the CFA

Originally posted by: DaWhim
what do you mean which exam? level 1

I meant Level, not exam. Which level.

So Level 1.

:laugh: