In my 1000 or so hours of studying CFA material, I have encountered many topics that are a complete waste of my time. However, I am very close to nominating Implementation Shortfall as the most useless part of the entire CFA curriculum. Mercifully, I think that it is only a Level 3 thing.
Calvin: ‘I used to hate writing assignments, but now I enjoy them. I realized that the purpose of writing is to inflate weak ideas, obscure poor reasoning, and inhibit clarity. With a little practice, writing can be an intimidating and impenetrable fog! Want to see my book report?’
Hobbes: (Reading Calvin’s paper) ‘The Dynamics of Interbeing and Monological Imperatives in Dick and Jane: A Study in Psychic Transrelational Gender Modes.’