CFA

ADAM_713 · January 24, 2009, 09:27:24 pm

Anyone attempted/passed this test?

Masshog · January 25, 2009, 06:27:16 am

No, but I am the only one in my group that does not have one (I think I am one of only a few officers firm wide that does not have one) and we have several young analysts studying their arses off to get through. Its pretty much a requirement (except for some of us old dogs) on the buy side to have any chance of advancement. Do you have a specific question?

Masshog · January 25, 2009, 06:28:37 am

By the way, prepare to work your ass off. There is nothing easy about this test.

john c · January 25, 2009, 12:31:48 pm

Quote from: ADAM_713 on January 24, 2009, 09:27:24 pm
Anyone attempted/passed this test?

Signed up and studied for it to fulfill CE requirements for other certificates (CPA, CMA, CFM). Something came up that prevented me from taking the exam when given and never got back on track. It's a very good program and suggest you do it or something - keep your educational wheels going. It was tough (for me, anyway) and is considerably distinct from the CPA or CMA programs. Also, seems like it wasn't cheap, either.

My understanding is that Masshog had a conflict with the Code of Conduct.

Ash · January 25, 2009, 01:25:51 pm

I've been thinking of pursuing a CFA but don't think there is much of a demand in central arkansas for one. I've talked to a few CFAs around here and they basically told me it got them nothing and that a CPA was preferred over a CFA around here for analyst work.

Hell, the analyst position I have now I only got because I'm so good at datamining in databases and working with excel. Good ol' ass backwards arkansas.

john c · January 25, 2009, 01:31:26 pm

Ash, the CPAs are NEVER going to get their own TV show. The only time they show up on the screen is when the mob is about to beat the stuffing out of one of them. At least with stocks there is some glamour.

san1981 · January 25, 2009, 01:31:45 pm

How was the CMA exam? I have heard it was hard, but looking at test questions, it seems like it is a lot like the CPA exam. I already have my CPA licenses and I'm looking into getting my CMA. My goal is have my CPA, CIA and CMA within 18 months. I just have one more section to pass and I'll have my CIA, that is if I don't fail...knock on wood

Thanks for the info.

john c · January 25, 2009, 01:39:51 pm

Quote from: san1981 on January 25, 2009, 01:31:45 pm
How was the CMA exam? I have heard it was hard, but looking at test questions, it seems like it is a lot like the CPA exam. I already have my CPA licenses and I'm looking into getting my CMA. My goal is have my CPA, CIA and CMA within 18 months. I just have one more section to pass and I'll have my CIA, that is if I don't fail...knock on wood

Thanks for the info.

CMA was more interesting for me because my world revolves around private companies and manufacturing. Signed up and prepared for the CIA but never took the exam. I HATED auditing, in or ex. (Did hear that maybe a TV show was going to feature an auditor but don't forget the Enron mess and what happened to Little Johnny at school). That said, a forensics accountant can do some fun stuff and all are handy if you want get in M & A. I don't keep my CPA license active so that I can beg off doing people's taxes - I don't even do mine.

SpareRib · January 25, 2009, 02:22:57 pm

Quote from: john c on January 25, 2009, 12:31:48 pm
Signed up and studied for it to fulfill CE requirements for other certificates (CPA, CMA, CFM). Something came up that prevented me from taking the exam when given and never got back on track. It's a very good program and suggest you do it or something - keep your educational wheels going. It was tough (for me, anyway) and is considerably distinct from the CPA or CMA programs. Also, seems like it wasn't cheap, either.

My understanding is that Masshog had a conflict with the Code of Conduct.

Yep. The subject was naked shorts, and I heard he called the examiner an asshat.

Masshog · January 25, 2009, 02:49:54 pm

Quote from: john c on January 25, 2009, 12:31:48 pm
Signed up and studied for it to fulfill CE requirements for other certificates (CPA, CMA, CFM). Something came up that prevented me from taking the exam when given and never got back on track. It's a very good program and suggest you do it or something - keep your educational wheels going. It was tough (for me, anyway) and is considerably distinct from the CPA or CMA programs. Also, seems like it wasn't cheap, either.

My understanding is that Masshog had a conflict with the Code of Conduct.

No, Masshog had a problem with the code of math. He knew his limitations.

Masshog · January 25, 2009, 02:54:59 pm

All I can tell you about CFA vs. CPA.... you want an analyst/PM job in this town you better be young and working on it or old and have it. Take it and get it out of the way as quickly as you can.

Masshog · January 25, 2009, 02:56:07 pm

Plus, I'm a trader, they keep me in a back room, well hidden (for a number of reasons) when accounts come to visit.

HognotinMemphis · January 25, 2009, 09:45:48 pm

Only thing I can add to this is that all the rich money and fund managers have their CFA. The guys here at Southeastern Asset Management all have them and the partners make tens of millions per year each. They manage private money and 3 mutual funds, the Longleaf family. Until 2008, they were mentioned in the same vain as Buffett but had their nightmare year finally.

ADAM_713 · February 11, 2009, 02:11:26 pm

I am working on it right now, it seems like and endless road.

ADAM_713 · February 12, 2009, 05:06:30 pm

If you don't mind me asking biggus and mass, what are your current positions. You can PM me. Trying to make a judgement on where the CFA can project you.

Masshog · February 12, 2009, 05:21:08 pm

I'm the Senior Fixed Income Trader (Investment grade) at a large mutual fund family. Even though I do Portfolio Manager type work, I will never be considered for a position as I don't have a CFA (or a degree) and I'm irritating and not very good looking.

ADAM_713 · February 12, 2009, 05:39:12 pm

Would you encourage one to get into the trading side?

Masshog · February 12, 2009, 05:41:57 pm

I would suggest that you go the analyst route. Trading is fine and fun and pays well, but the upside for Portfolio Managers is greater. How is your girlfriend Adam? Any improvement?

Masshog · February 12, 2009, 05:45:41 pm

This also presupposes that you are interested in managing money. In some venues, trading is where the most money and upside is found.

ADAM_713 · February 12, 2009, 05:49:21 pm

I have designed my own trading therioes and back tested so I like the aspect of managing money, but I don't want to be a back office analyst. I sent you a PM Mass, thanks for asking.

HognotinMemphis · February 13, 2009, 07:07:30 am

Quote from: ADAM_713 on February 12, 2009, 05:49:21 pm
I have designed my own trading therioes and back tested so I like the aspect of managing money, but I don't want to be a back office analyst. I sent you a PM Mass, thanks for asking.

You have to be an analyst before you become a manager of money.

CFA

January 25, 2009, 06:27:16 am #1

January 25, 2009, 06:28:37 am #2

January 25, 2009, 12:31:48 pm #3

January 25, 2009, 01:25:51 pm #4

January 25, 2009, 01:31:26 pm #5

January 25, 2009, 01:31:45 pm #6

January 25, 2009, 01:39:51 pm #7

January 25, 2009, 02:22:57 pm #8

January 25, 2009, 02:49:54 pm #9

January 25, 2009, 02:54:59 pm #10

January 25, 2009, 02:56:07 pm #11

January 25, 2009, 09:45:48 pm #12

February 11, 2009, 02:11:26 pm #13

February 12, 2009, 05:06:30 pm #14

February 12, 2009, 05:21:08 pm #15

February 12, 2009, 05:39:12 pm #16

February 12, 2009, 05:41:57 pm #17

February 12, 2009, 05:45:41 pm #18

February 12, 2009, 05:49:21 pm #19

February 13, 2009, 07:07:30 am #20