Wednesday, January 3, 2007
Nouvelle année heureuse ! (Happy New Year !)
This is my first posting in 2007. Had a OK new year weekend. I wanted to complete the "Ethical and Professional Standards" material, but hardly could lay my hands on the books. I had already completed standards I and II last week and read III and IV yesterday. I am positive that, I will be done with the standards and GIPS by this weekend. I have spent about 8 hrs so far on this material and really it isn't hard... just a lot of stuff to memorize. I have purchased Schweser's "Understanding Your Financial Calculator" and "CFA Fundamentals" books and they arrived over the weekend. I went through couple of chapters and thought they were too basic. I wasted about $80 and don't think they are worth it. The reference textbooks that I bought should be good enough although it might have taken a little more time to grasp. Anyway, since I already bought the books from Schweser, I have planned to read them before starting other LOS. So, I will read these books after I am done with "Ethical and Professional Standards" material. Look for detailed reviews on these books and the material I used for "Ethical and Professional Standards" as well.
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8 comments:
Hey CFA_Blogger! This is Mahesh, and I'm writing to you from India. A some what similar story like yours... I work with a Financial Services major, but my job is not close enough to doing anything major in Finance. Anyways just a year out of college I did not want to join an MBA for the sake of it. I graduated in Physics in 2004.. (Practically I think nowhere close to Finance, right?)
I will be writing my CFA L1 in June07.. Call quits from my current job and off I go on the road to Finance.
It's inspiring to read about people who keep wondering what has life in store for them. Your blog was an interesting reading so go ahead...
Wish you all the best!
Nice start and I see your writing has good energy with an intent to benefit both personally and to help others through knowledge sharing, which deserves appreciation.
I am one of those CFA aspirants with no financial work experience but a decent financial academic knowledge. I see that CFA certification eligibility now needs 4 years of investment related work experience. With a late start (since I am 31), what is the realistic long term career prospect and doing well, meaning to get to a decent position by 40 or 45 (lets say). I believe you had the same question and would like to hear to help address the tough questions I face.
- CFA Aspirant !!
I am in NY USA area. I have very similar background as you. I am working in IT (I read "Pro Spring" book, and used spring, struts, ...)
and I am doing CFA level II now (finished level I in 2006). What's more: je parle le francais aussi (I also speak french!)
Drop me a word to zlan@hotmail.com when you get some free time.
Daniel
Mahesh,
Thanks. I am not sure, how valuable CFA is in India. I am with you on MBA, you should go for it after a few years of working in the industry.
Best of luck to you.
Hi Anonymous,
I am pretty much in the same boat as you... maybe a year younger. If you pass all levels on your first attempt you should be done with CFA by 2009 June. Ofcourse you can use the CFA designation on your resume only after fulfilling the work experience.. but companies will hire you if you complete Level-II and show a commitment to achieve CFA. The pay may be around $60,000 and you will have to start from the bottom. If you build network by going to your local CFA Charter meetings/events... it should be fairly easy to get a job. The upside is the Investment Management jobs are very stable compared to Investment Banking jobs. If you are really good at your job... I am pretty sure you will earn a lot more. It really depends on what you are doing now... how much you are earning and what is in future if you continue doing what you do.... All these play a major role in your decision.
Thanks for your comments.
Hi CFA Blogger
Thanks for replying back to my comm. As for as what the news say India is still in nascent stages of a growning eco. Looking at the CFA's study the market penetration reached by them here is a mere 2%. Im sure completing the CFA and earning the charter by 2010 will have its benefits.
Anyways lets not deviate from the purpose of this blog. Im still held up at Quant. Any tips for getting thru? Also there is a calc tip for Texas BAII plus pro available. Check this out ... http://www.atomiclearning.com/ti_ba2
Mahesh
Hi Mahesh,
Thanks for the link. It is a great webpage for starters... I actually bought a book from Schweser with tips on using the Calculator.
Regarding Quant Analysis, I just started... You are way ahead of me man!
I am curious as to your review of Understanding Your Financial Calculator because I thought about getting it because the book that comes with the calculator (TI) really is not that good for deep financial stuff. I was able to use it to get through my classes but really felt insufficient in the calculator area. Let me know, Theresa Lewingdon tlewingdon@yahoo.com
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