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Cfa
Started by KeratinPearls
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OK, curiosity piqued, as I passed the level 1 and then didn't continue as the CFA series seemed primarily geared toward folks advising individuals on their investment portfolios, which was not my interest (company paid for the CFA Stalla prep course at the time)
The exam seemed very difficult at the time; around 1/2 of finance investment professionals, most of whom were practicing in the field, passed the exam in the year I took it.
Huh, I thought that CFAs dealt more with institutional investing, M&A, and things of that sort while CFPs were involved with financial planning for individuals.
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Whats the best route for learning about finance (so you actually know what you are doing or talking about) so that you can make your money work for you. A friend is taking those CFA exams. Don't know anything about them but from a previous thread I think those are for ppl who have years of work experience in finance.
My friend recommended this CFA stuff. Any recommendations?
What's your goal? Personal finance for self or for others? Institutional finance? Do you just want to be familiar enough with the lingo to not be totally taken by the suits?
There's no fast track method to financial savvy; if it were easy they would not command the $$$ they do. I would only go down the CFA pathway if your career goals entail working in finance....
There's no fast track method to financial savvy; if it were easy they would not command the $$$ they do. I would only go down the CFA pathway if your career goals entail working in finance....
I am looking at being able to manage my own finances and knowing how and where to invest (ie. stocks, etc./and know what I'm doing!). I'm not looking at a fast track method...I know it takes time. Reading alone will do it?
Nope, MBA taught me how to do M&A work. CFA was more technical tools and calculations, albeit for more advanced clients; the exam (level one at least) was broad, but nowhere near the level of complexity you'd need to get into to advise a client on a merger. Think zero coupon bonds, time value of money, stuff like that. CFP (per a relative who took coursework in this area) teaches more simple investing principles, "assume the stock market will return 6.9%", things like that.
for original poster -- the CFA would be a poor choice if you're intending to manage your own money -- from what I recall, to sit for the exam, you needed several years experience working in finance even to sit for the level one. The level 2 and level 3 are offered sequentially, a year apart, so you'd be looking at 3 yrs of intense exams, with pass rates around 50% among investment professionals, to qualify to manage your own money? not what I'd suggest.
CFP may be a thought, or sit for a handful of finance courses. Depending on the amount of $$ to be managed, it'd probably make sense to pay a professional a couple thousand to make suggestions rather than go through the pain yourself.
My business school now costs around 100K + 2 yrs to earn the MBA, would it make sense to spend this just to become an entry-level, inexperienced, money manager, versus paying the best-of-the-best a couple thousand to review your portfolio and make suggestions?
