Foundations vs Endowments
Do they both have the 5% spending requirement to maintain tax exempt status, or is it only Foundations? I saw both are governed by UMIFA so it got me thinkingThanks!
View ArticleGeneration Skipping: Future Value
Page 298, volume 2: The formula for the future value: 200M * (1.05)^10 (1 - .50) (1.05)^25 (1 - .50)) = 275M does not seem to tax the investment returns (it just has the wealth transfer tax at 50%)....
View ArticleWhat is a general catch all list for removing/mitigating behavioral baises?
A rough list will be helpful. I’ll start1. Seek the opinions which contradicts your view
View ArticleReading 7: Example 3 pg 40 CFAI Curriculum
Can anyone please explain how the optimal portfolio for the second BPT investor is constructed? How do you arrive at values of 78.43% to Layer 1 and 21.57% to Layer 3??
View Articlewhat is period to date return? thanks guys!
According to GIPS:Advertisements that state a claim of compliance and present performance must alsopresent one of the following sets of total returns:a. one-, three-, and five-year annualized composite...
View ArticlePen or Pencil
Does anyone know whether pencil is allowed for writing the AM session or not this year? Thanks!
View Articlewhen growth in market cap>growth in price index
Hi,Can you help me with the following (SS 8 Asset Allocation):when growth in market capitalization>growth in price index it indicates dilution in returnsBut price index is an indicator of market...
View ArticleCFAI End of Chapter Questions
For level 2, I pretty much only did the vignettes, since that represented what was testedNow for level 3, I am doing everything, from vignette to open ended etc, every CFAI EOC question.My point is I...
View ArticleLeveraged Fl-Rate Note example - Curriculum p454 R31
I am so confused about Example #3 in reading 31 concerning the leveraged floating rate notes. I guess I’m confused about the intuition behind the notation. Can anyone take me through example 3? (p455)
View ArticlePension ALM Reading 16 question 6 CFAI text
volume 2 reading 16 page 535 question 6…Why are we using derivatives to hedge the market-related pension risk in this case (choice A) and not nominal and real rate bonds (choice B)-thanks for any insight
View Articlequestion on ethics materials...thanks very much guys
hi guys,in the schweser notes, i dont see any particular session dedicated to soft dollar practices, as i saw in level II.i only saw a session dedicated to asset manager code.can i just assume soft...
View ArticleCFA practice problems reading 10, Q13
Hey guys,Could anyone shed some light on q13 part A ii) where you need to formulate a return objective. It all makes sense up to the return calculation, I can’t quite figure out how they got 4.427%...
View ArticleNot understanding Roll Yield paragraph (pg 28 Schweser Alternatives Book)
Hi.At the bottom of page 28, the reading defines roll yield as the change in the futures price minus the change in the spot price of the underlying commodity. This makes sense.It also defines...
View ArticleSymmetric Cash Flow Matching
Hi guys,I read thisthe Symmetric CF Matching allows for short term borrowing..”this results in reduction in the cost of funding a liability” but also ” introduces price risk”.Why are the both...
View ArticleMake your own Qbank-sort of
just started using an app called Flashcards Deluxe by orangeandapple.comI uploaded my notes from an excel sheet (don’t ask. that is just the way I do things) in cram.com and then imported them in to...
View ArticleEssays - AM Help
Failed L3 last year and I know it’s because of the morning sessions (may have went AM30% PM75%). I’ve read tips and tricks on how to answer the morning session (use bullets, less is more, show work)...
View ArticleAnyone taking the NYSSA 6 week condensed class in NYC?
I am a level III retaker and just signed up for the 6 week condensed class (costs me $850!!!!). Anyone here have taken the class before or are taking it starting this weekend? Any thoughts on this?...
View ArticleCore-Satellite Approach vs. Alpha & Beta Separation Approach
Can someone explain the difference between these two approaches? I must be missing something because they seem awfully similar to me…Am I on the right track if I’m saying something like:In the...
View ArticleCorrelation of returns: when will finance people get this right?
I was just reading about the core-satellite approach to constructing portfolios when I came across a note that read (I paraphrase): managers’ total returns will likely have a positive correlation...
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