LeChiffre

[LeChiffre]

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1.4235 [y^x] (1/5) = 1.0732 – 1 = 7.32%

The key here is to raise the number you get after multiplying period returns to (1/n, n = number of periods, in this case 5, resulting in 0.20). This should help.

[LeChiffre]

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@hairyfairy, @googs1484, I’m not overly concerned at this stage. I’ve only had about 15 hours of review between those exams to review additional material, and the topics I have covered have improved. And from some other Level I practice exam threads I’d say I’m about on par, and just above the Schweser peer average. There’s certainly room for improvement, and my scores will trend in the right direction. I’m 220-230 hours deep now, with another 100 or so on the calendar before June 6. I’ll post scores as they come in, another half test on deck Friday, for now, back to quant!

Googs, let’s push through and pass this thing.

-John

[LeChiffre]

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For both sessions I went through and did all the ones I knew or felt pretty confident on, then went back to the stragglers. For the AM first pass took out about 100 questions, PM took out about 90. Went through to the others and had a few moments of clarity where the answer was obvious the second or third time I looked at it.

If I got 70+ in all categories I’d be surprised (probably dipped <70 in one), but if I did any worse than failing band 10 I’d be even more surprised.

[LeChiffre]

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@Stuj79, We are on the same page. I plan on doing a second full review of Ethics prior to my mock exams and final review.

[LeChiffre]

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Greetings,

This is John from Arkansas. It’s great to be a part of this forum and hear
about its members’ CFA experiences. I went to a small, Midwestern school for undergrad
and my MBA. Currently I work as a compliance regulator. I plan on taking Level
I in December 2015. Right now I’m reading Rachel Bryant’s book as a prep guide
(she’s how I became aware of this forum) and plan to begin studying before the
end of this year. I’m really looking forward to this experience and
contributing to the community.

Why the CFA?
Long term I’d like to do equity research or asset/portfolio
management. I really enjoy the analytical and quantitative side of finance (ask
me that after 300+ hours of studying and I may be less enthusiastic) and want
to keep my skills polished while gaining a qualification which will help me
with career moves down the proverbial road.

I’d be lying if I said I wasn’t a bit nervous and intimidated by the CFA
program, but I look forward to learning a lot about the material and myself
along the way.

That’s enough deep talk for now. Please do reach out to me if you think there’s
a chance I could be of assistance. And of course anyone in Arkansas looking for a
study group or otherwise, I’ll be checking this site regularly.

Best,

John

[LeChiffre]

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@archer90, while I haven’t begain studying myself, I second the points of @tacheman and @Pranav above about practice exams and making notes as you work through the books. If you’re not already doing questions from the Q-bank at the end of each section, that should help hammer down things you know and things you need to polish up.

Another suggestion from a CFA study-strategy book I read: flashcards. The act of writing the flashcards will help you retain and provide you a quick and simple way to review bits you haven’t looked at in a few weeks.

In short:

• Make notes (brief summaries) as you go of sections you would like to retain more of

• Do practice tests and Q-bank questions

• Make flashcards

Get back to us and let us know if these help.

Best,

John

[LeChiffre]

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Also, just saw that I’m spending about 90 seconds per question while most others are spending closer to two and a half minutes. Perhaps some are using materials as they do the practice questions? I’m doing them blind.

[LeChiffre]

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@Lollypolly, I’m using Schweser questions. I haven’t done any repeat questions. I do review them after the quiz so I see what I need to do differently. If you’ve covered all those you seem to be on a good pace.

Honestly, I feel like I’ve covered a lot in the 100 hours or so I’ve studied, but my estimate may be a bit on the low side. Knock on wood, but this isn’t as stressful as I was anticipating. But when practice exam rolls around I may change my opinion there.

The average score on Schweser (peer comparison) is around where I’m at, higher in some areas and lower in others. I’m trying to gauge if some people are doing them open book. Judging by time per question and scores it seems that is the case, or their retention is way above me. Time will tell.

– John

[LeChiffre]

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Just took the AM, 70% on the nose. In some ways it was easier than Schweser, but it did have a few question types I had not seen before.

[LeChiffre]

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I understand the focus is not hours, it’s more scheduling enough time to cover everything with room to review. That figure is a ballpark (i.e. is this number in the neighborhood of time required). Rachel Bryant suggested 350, 500, and 450 for Levels I, II, and III respectively, and her Level I recommendation was, for me, about spot on.

Has anyone used Schweser videos? I understand that they are available online after being recorded live. They useful? Not so much? Etc.

[LeChiffre]

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@googs1484, okay thanks. I’ll go with this package which includes weekly online classes (also recorded as you mentioned). Does this include the recording on each reading (and is the recording the same as the audio notes)?

[LeChiffre]

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Thanks, @googs1484. Audio notes may be useful on the morning and afternoon commute.

[LeChiffre]

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Well just got off the phone with Schweser and Level II materials won’t be available till mid to late October. So I’ll study directly from CFAI material until Schweser arrives.

[LeChiffre]

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The Intelligent Investor’ by Ben Graham, anything by him, really.

[LeChiffre]

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@Ch.Ministry, I did not order the Secret Sauce. Schweser material should be shipping soon.

[LeChiffre]

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I started in mid-September. Taking it slow for now. Will hit it hard in November and December.

[LeChiffre]

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@googs1484 , long time no see. I’m through ethics, alternative investments, corporate finance, and have half of study session 6 and all of session 7 to go then FRA will be complete as well (6.5 sessions complete).

I agree completely that it is much more in-depth and difficult than Level I. I’m not covering pages nearly as quickly. That being said, ever since I received the hard copy Schweser books it’s been much better than using eBooks.

[LeChiffre]

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@googs1484, which reading is that? If I recall the Schweser video had a nifty way of remembering how to derive CFO.

[LeChiffre]

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@tacheman, thanks, I’m thinking once I get on a roll checking those boxes I’ll want to keep the streak alive and keep going.

Also, great picture. From men into gladiators, and gladiators into Swansons.

[LeChiffre]

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This question is just a wordy
way of asking which investment protects against inflation. I suppose the tricky
part is not overthinking it.

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