300Hours | pcunniff | Activity https://300hours.com/members/pcunniff/activity/ Activity feed for pcunniff. Fri, 18 Sep 2026 19:29:10 +0100 https://buddypress.org/?v= en-US 30 hourly 2 798d08b4baabe32fd69e4dc17625f321 pcunniff reached the rank Sr Portfolio Manager: https://300hours.com/activity/p/6905/ Mon, 06 Sep 2021 06:59:21 +0100 Forum Level 6

]]> 0 cbecc6e35781084b9b66c400a1988717 pcunniff earned the award Getting Topical: Posts specific to the CFA Level 1 exam. https://300hours.com/activity/p/3197/ Tue, 18 May 2021 23:27:32 +0100 Getting TopicalPosts specific to the CFA Level 1 exam.

]]> 0 b679d62b24a53a5e88afbb5c28a8c78f pcunniff started the topic Efficient Market Hypothesis (EMH) example: Semi-strong and strong form in the forum CFA Level 1 https://300hours.com/f/cfa/level-1/t/emh/ Tue, 18 May 2021 23:27:30 +0100 Kaplan’s responses are making me more confused (lol). Anyway, how on earth does this explanation make sense? I understand that semi strong reflects all publically available info, but kaplan goes on and says “If the semistrong form of EMH is violated, the strong form of EMH is also violated.” Huh? Strong form includes private data. Very confused…Read more

]]> 5d56914d1fb04ef97d63c660916758c2 pcunniff started the topic NPV and IRR in the forum CFA General https://300hours.com/f/cfa/general/t/npv-and-irr/ Tue, 18 May 2021 22:38:37 +0100 Anyone have a better explanation to figure this out? I got lost.. I tried putting in fake numbers and actually thought the answer was  A. Thanks in advance!

 

A company prepares a chart with the net present value (NPV) profiles for two mutually exclusive projects with equal lives of five years. Project Jones and Project Smith have the same…Read more

]]> d38f1280f142bca251f3ac5f149526e5 pcunniff earned the award First Vote: https://300hours.com/activity/p/3187/ Tue, 18 May 2021 22:36:24 +0100 First Vote

]]> 0 f35f7a1e2986eeb6d73ca28a0db6d369 pcunniff replied to the topic 2-Stage Dividend Discount Model example with Gordon Growth Model formula in the forum CFA Level 1 https://300hours.com/f/cfa/level-1/t/ddm-2/#post-99225 Tue, 18 May 2021 22:32:52 +0100 I just straight up struggle at these DDM questions. I am constantly wondering if I have to take the req rate of return as the denominator versus the constant growth at just D/expected rate of return – growth. You get growth at times by taking ROE * RR (1-div payout). So much to remember and I STILL get the questions wrong. Any last minute tips on…Read more

]]> f5a3fa4c524a44eacce705be21b8dcc8 pcunniff replied to the topic How to calculate spot rates from forward rates in the forum CFA Level 1 https://300hours.com/f/cfa/level-1/t/spot-rates/#post-98977 Tue, 18 May 2021 00:11:00 +0100 Thanks Zee. Another question I have as I was reviewing is still relating to forward from spot rates.

 

I notice on some problems that you are raising to the 1/2 power. For example, (1.08^4/1.06^2)^1/2 – 1 = 10.04% whereas some problems I see in kaplan dont do that. Is it due to the fact the implied forward loans are for more than one period? It…Read more

]]> 478ef1e6fd97072bd01d31c90a38e993 pcunniff started the topic How to calculate spot rates from forward rates in the forum CFA Level 1 https://300hours.com/f/cfa/level-1/t/spot-rates/ Sun, 16 May 2021 22:31:28 +0100 Anyone know where the 6.5 is coming in twice on the average below? Feel this is the easier route!

 

Based on the following interest rates:

1-year spot rate
3.0%
1-year forward rate one year from now
5.0%
2-year forward rate one year from now
6.5%
The 3-year spot rate is closest to:
A)5.0%.

B)5.3%.

C)9.3%.

 

Note that the answer can be…Read more

]]> 165d801e502ca4f909c6f93a773c91fc pcunniff started the topic 2-Stage Dividend Discount Model example with Gordon Growth Model formula in the forum CFA Level 1 https://300hours.com/f/cfa/level-1/t/ddm-2/ Sun, 16 May 2021 22:06:33 +0100 Anyone know how to do this for the Gordon growth model?

 

A stock that currently does not pay a dividend is expected to pay its first dividend of $1.00 five years from today. Thereafter, the dividend is expected to grow at an annual rate of 25% for the next three years and then grow at a constant rate of 5% per year thereafter. The required rate…Read more

]]> 20af3443369ad438e3851cea1f79d064 pcunniff earned the award Shopper: https://300hours.com/activity/p/2950/ Sun, 16 May 2021 17:08:32 +0100

]]> 0 2b85481970dca314dac12714c68e83a6 pcunniff reached the rank Portfolio Manager: https://300hours.com/activity/p/2874/ Sat, 15 May 2021 20:44:27 +0100 Forum Level 5

]]> 0 1ea4379abee2f65b2cf53bc806694ef2 pcunniff started the topic Negative convexity: explained in simple terms in the forum CFA Level 1 https://300hours.com/f/cfa/level-1/t/convexity/ Sat, 15 May 2021 19:48:50 +0100 A callable bond most likely experiences negative convexity when the bond’s yield to maturity is:

less than the bond’s coupon rate.
equal to the bond’s coupon rate.
greater than the bond’s coupon rate.

A is correct. A callable bond is most likely to experience negative convexity when the bond’s yield to maturity is less than the bond’s coupo…Read more

]]> 824e4e16acb72533deb6f5868fd2918a pcunniff replied to the topic How to calculate forward rates from spot rates in the forum CFA Level 1 https://300hours.com/f/cfa/level-1/t/forward-rates-from-spot/#post-98283 Fri, 14 May 2021 23:27:19 +0100 Thanks gents!

]]> b0d9af3453ff2cefb52861e2a63ee798 pcunniff started the topic How to calculate forward rates from spot rates in the forum CFA Level 1 https://300hours.com/f/cfa/level-1/t/forward-rates-from-spot/ Fri, 14 May 2021 16:03:02 +0100 Anyone out there (mikey – i know youre reading this ;)), know an effient way to calculate forward from spot rates? I understand the 3y1y (1 year spot 3 years from now) blah blah. My questions is if they give us say:

1 year spot – 5%

2 year spot – 6%

3 year spot – 7%

4 year spot -8.5%

5 year spot – 10%

6 year spot -11%

 

We can go 100 diff…Read more

]]> 53f4310e7f5531a248ec0f87e0a9a123 pcunniff replied to the topic Current Account example: why increase in savings = decrease in trade deficit? in the forum CFA Level 1 https://300hours.com/f/cfa/level-1/t/account-surplus-v-deficit/#post-97685 Wed, 12 May 2021 21:04:37 +0100 Mike – youre the man. Your response was diligent and cleared it up for me. Thanks!

]]> 248c8afda082eb23c777e46cd637701b pcunniff started the topic Current Account example: why increase in savings = decrease in trade deficit? in the forum CFA Level 1 https://300hours.com/f/cfa/level-1/t/account-surplus-v-deficit/ Wed, 12 May 2021 16:16:06 +0100 Hello all – i get confused on this topic and understand (x-m)= S-I + (T-G). Maybe the explanation just confuses me here. A decrease in savings should increase the left side of the equation.  So how does a decrease in a deficit (more imports than exports) result from decreasing savings relative to investment? I would think this would increase it…Read more

]]> 0352b930eb8658034f91be41350ebe5d pcunniff started the topic Weighted Average Collection Period: calculate 'average collection days'? in the forum CFA Level 1 https://300hours.com/f/cfa/level-1/t/weighted-avg-collection-period/ Wed, 12 May 2021 15:27:44 +0100 Can someone explain how to calculate the average collection days. I see the % as a total (200/500 = 40% as an example for march). However, how do you get the average collection days or is this GIVEN.

 

 

 

 

 

 

]]> 82e89143b21d5d98f2b44cbd0dd72225 pcunniff reached the rank Jr Portfolio Manager: https://300hours.com/activity/p/2627/ Wed, 12 May 2021 10:14:06 +0100 Forum Level 4

]]> 0 07be405f7f0e8f3b6d10b66560ca58e9 pcunniff replied to the topic Probability example question: How do you do this in nCr or nPr? in the forum CFA Level 1 https://300hours.com/f/cfa/level-1/t/anyone-know-how-to-do-this-on-ncr-or-npr/#post-97506 Tue, 11 May 2021 17:40:33 +0100 thanks Mikey – how do you get the 8NCR4? Order matters for NCR and doesnt for NPR, correct? Get confused with this. I understand the first part, but unsure of where you get 8NCR4.

 

Patrick

]]> 5a642152b968225b387227d9ffc34d2d pcunniff started the topic Dividend Discount Model Example: Why not Gordon Growth Model? in the forum CFA Level 1 https://300hours.com/f/cfa/level-1/t/ddm/ Tue, 11 May 2021 17:33:57 +0100 Hi everyone – hope everyone is grinding hard like me. Does anyone know why you dont use the gordon growth model here? Does it need to say Expected Div Growth Rate forever? Or something along those lines?

 

Use the following information on Brown Partners, Inc. to compute the current stock price.

Dividend just paid = $6.10
Expected dividend…Read more

]]> a34bd2f1f64f1db26d8b210f6d666483 pcunniff reached the rank Sr Associate: https://300hours.com/activity/p/2403/ Sun, 09 May 2021 17:34:34 +0100 Forum Level 3

]]> 0 f0965061791c225cdfde7be75f5a9dcb pcunniff earned the award First Post: New Post https://300hours.com/activity/p/2401/ Sun, 09 May 2021 17:34:26 +0100 First TopicNew Post

]]> 0 58c32d15ce58ad5428dd720521e4f09d pcunniff started the topic Probability example question: How do you do this in nCr or nPr? in the forum CFA Level 1 https://300hours.com/f/cfa/level-1/t/anyone-know-how-to-do-this-on-ncr-or-npr/ Sun, 09 May 2021 17:34:25 +0100 A firm is going to create three teams of four from twelve employees. How many ways can the twelve employees be selected for the three teams?

A)34,650.

B)1,320.

C)495.

ExplanationThis problem is a labeling problem where the 12 employees will be assigned one of three labels. It requires the labeling formula. There are [(12!) / (4! × 4! × 4!)] =…Read more

]]> f46a0a8cde2538fbebcfe043c44d3b05 pcunniff earned the award First Vote Received: https://300hours.com/activity/p/1736/ Fri, 30 Apr 2021 08:14:50 +0100 First Vote Received

]]> 0 97a3295a3f5864da49408101afee71e8 pcunniff reached the rank Associate: https://300hours.com/activity/p/974/ Tue, 20 Apr 2021 01:14:31 +0100 Forum Level 2

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