Help yourself to my notes
I have put my Level 3 notes up here. Feel free to make use of them.They’re not professional and I’m not selling anything. I’m just another candidate like you who will be writing the Level 3 exam in...
View ArticleWhy the Need For Float Adjustment?? International Equity Benchmarks
I’m a little confused by the significance. I see with cross-holding how it could be an issue [e.g. ABC Corp has a Mkt Cap of $100B and XYZ Corp owns 80% of its stock and itself has a Mkt Cap of $100 B...
View ArticleBehavioral Finance
Hi, I’m confused with Behavioral Finace - reading 7 example on page 27(CFAI book 2). In the example, it basically says:Situation 1: 50% probability of winning 150 and 50% probablity of losing...
View ArticleA question for those wiser than I: Short Extension Strategies Short Proceeds
can’t seem to figure this one out…In the CFAI text on short extension strategy for the 130/30 example it says “for every EUR100 received from the client, the portfolio manager shorts 0.30(100)=30 worth...
View ArticleGIPS - modified dietz and daily valuation
is daily valuation method the exact same as the modified dietz method? with the exception that daily valuation will value the assets on the day of the cash flow?
View ArticleTaxes
Hey guys, I’m having a hard time with EOC question # 6. I can’t follow the logic used in their answer. I also didn’t memorize any formula they gave in the chapter and just worked out each question...
View Articledownside risk calc
hiIn CFAI book, volume 5, page 113, question 12(a), you are asked to calc downside risk of a hedge fund. I can’t do the calc, and the answer does give the workings. anyone work it out?
View ArticleWhere are you guys getting extra practice questions from?
Unlike L1 and L2, Schweser/Elan seem super-weak. Any other sources/techniques besides the official CFA exams?
View ArticleFCF valuation ?
Is it reasonable to use a FCFF model to value a company that has gone through a fairly significant turnaround, management/product restructuring and returned to profitability and positive free cash flow...
View Articlelifetime financial advice EOC
based on EOC Qs 2 & 3, do we really need to know the Fig 8-11 hardcore?!I mean for Q 3, for Lee I would go for Strategy C as his co relation with stocks is 0.9 he should have less stocks but...
View ArticleSS5 Reading 15 example 13
The solution saysIn addition, endowment spending is not a very large part of the school’s annual budget (less than 14 percent of revenues). Endowment spending could fall by as much as 20 percent and...
View ArticleStandard I A. Knowledge of Law (scenario)
Imagine you run an investment advisory business for retail clients. Both you and the client reside in country A. Country A’s laws governing the conduct of your particular line of business are just as...
View ArticleMemorization
Hello,I have read all Schweser books so far except of the ethik part and the GIPS part. I used Anki to create my own flashcards. Just started with the CFAI blue boxes and EOC. Seems one really has to...
View ArticleBest Pen for Morning Session
Hi,I just started doing the EOC of CFA I questions and try to write down the answers first before I look at the answer.I feel that my handwriting has become horrible since I left university 4 years...
View ArticleComponents of a Portfolio Return? Difference between Benchmarks & Indexes?
I’m a little stuck on parsing the return of the market from the style. Intuitively, I imagine a fund manager who focuses on deep value stocks and wants to customize a benchmark based on the S&P...
View Articlefixed income portfolio management
hi guys,on p.85 of schweser notes on fixed income portfolio management:there is an example:“A portfolio manager holds 1,000 bonds wiht a face value of $1 million. The current spread over a comparable...
View Articleanother fixed income portfolio management question
hi guys,on p.95 of fixed income portfolio mgmt,it says that “generally, it is impossible to construct a perfect hedge, as you would need to know in advance the ending value of the foreign currency...
View ArticleIII (B) Fair Dealing
Can a firm provide two different services, for example:1. Investment advice related to secondary equity market.2. Investment advice related to new IPOs and secondary offerings. and not be in violation...
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