gontata

[gontata]

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But does that mean that although you deposit T-bills as collateral with the counterparty, and the counterparty holds it, you collect the interest in it? How would it work if it’s cash?

Sorry to potentially ask a stupid question…

[gontata]

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Thanks for the thorough answer, this helps a lot!

[gontata]

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$SE=\frac{\sigma }{\sqrt{n}}$

where

SE = standard error of the sample
σ = sample standard deviation
n = number of samples

[gontata]

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If the rescheduling window is working, try it! It’s like the wild west right now with CFA Institute’s booking system.

[gontata]

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Rolling basis means CFA Institute are constantly considering and awarding scholarships.

They are already overdue to open up applications for Access scholarship so all bets are off on when we can actually apply.

[gontata]

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Awesome, thanks!!

[gontata]

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Who is the offending provider? 😁

[gontata]

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What? Level 2 material is completely different to Level 1.

CFA Institute kept the 2021 material the same as 2020. Are you referring to that?

[gontata]

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Hard to make that call though. I’m registered for Nov 2021 but if it gets delayed due to Covid to 2022, who’s responsible for the cost of changing to the latest materials?

[gontata]

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@yiling already stated the solution: that you should contact the CFA Institute registration department to sort it out.

[gontata]

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Canada is getting it pretty bad as well. What did CFA Institute do last year when Covid was at the peak?

[gontata]

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Related question – does that mean it’s OK for a country to continuously run a current account deficit?

[gontata]

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That makes sense – thanks.

[gontata]

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Isn’t variance a measure of variation?

[gontata]

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Thanks!

I’ve seen an explanation in my notes that compares WACC with company returns, such as this:

• Company returns: 25%
• WACC: 17%
• Investment yield: 8%

I can deduce mathematically that

Investment Yield = company returns – WACC

from the example, but I’m having issues understanding that conceptually.

The other thing that I don’t understand is why does the debt part of the WACC calculation involve corporate tax, but the equity part doesn’t.

[gontata]

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That’s tough! At this point you have to wonder when it’ll actually happen.

[gontata]

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I’m not but I have a few friends in Ontario that are going through it right now. If there is any news on cancellations there it would be good to know!

[gontata]

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As a precaution screenshot everything when you reschedule and note down all reference numbers as soon as you get them.

[gontata]

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Might have missed the boat on that one then.

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