Should I take the CFA course?

This is a discussion on Should I take the CFA course? within the First Steps forums, part of the Reception category; I'm currently studying for the IMC before attempting the CFA next year. Like myself you want to start off somewhere ...

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Old Feb 5, 2005, 8:37am   #16
 
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I'm currently studying for the IMC before attempting the CFA next year. Like myself you want to start off somewhere a bit more basic first then I, along with others, would recommend this. It's a start and provides threshold competence which you need in this industry anyway. I'm scared to hell of doing the IMC next month but know it's a step forward. Good luck to you. Remember - baby steps!
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Old Feb 6, 2005, 2:40am   #17
 
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What is an IMC
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Old Feb 6, 2005, 3:00am   #18
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Should I take the CFA course?

There is another point to consider many of the greatest investors, speculators & traders in the world have non financial skills that have helped them become billionaires:

George Soros considers himself to be a philosopher, he was a student of the great Karl Popper & used his teachings to develop his success as a speculator.

Carl Icahn studies & uses psychology.

Marc Rich has great language & communications skills.


Many people study Ayn Rand (including myself) they believe that her teachings help them to develop more successfully (her most famous follower was Monroe Trout).

There was even the case of the Feshbach Bros, who followed the teachings of L Ron Hubbard!
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Old Feb 6, 2005, 3:01am   #19
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Originally Posted by sehik
What is an IMC
Investment management certificate from the Securities Instituite.
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Old Feb 6, 2005, 3:15am   #20
 
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Quote:
Originally Posted by ravenglass
Investment management certificate from the Securities Instituite.
Thanks for that, i think the sort learning a 'learner' like myself and perhaps a few others need, is a course that focuses on technical analysis. Any info on this will be appreciated.
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Old Feb 6, 2005, 3:16am   #21
 
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Correct ! 10 out of 10 ! Very few people know this.
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Old Feb 6, 2005, 5:41am   #22
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CFA is excellent if your interested in fundamental analysis.
I've done a couple of degrees in economics and finance, plus the IMC. I'm not a big believer in the benefits of formal education, but I have to say that the CFA course was by far the most useful thing I've done. The scope of the program is enormous. With the exception of technical analysis, every area of the investment process is coverered.
Most importantly I've also been able to apply the knowledge to make money using fundamental analysis.
However, if your primary interest is in short term trades based on technical analysis, I'm afraid the CFA is going to be of limited help to you.
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Old Feb 6, 2005, 11:20am   #23
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I would like to quickly add that the CFA is extremely well respected by financial insititutions. It has become arguably a global benchmark sitting above national certificates. If you are looking for a career in a financial field (especially investment management etc) then there are few better courses to take.

I should also say that the CFA (much like an MBA) relies on a degree of previous experience in the field. It is not a qualification for career ''exam takers'' of which there are many.
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Old Feb 6, 2005, 1:48pm   #24
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Quote:
Originally Posted by sehik
Thanks for that, i think the sort learning a 'learner' like myself and perhaps a few others need, is a course that focuses on technical analysis. Any info on this will be appreciated.

Try the Society of Technical Analysts www.sta-uk.org

"The STA Diploma is an internationally recognised qualification and is part of qualifying to be a member of the STA (MSTA)."
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Old Feb 13, 2005, 9:49am   #25
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Quote:
Originally Posted by SOCRATES
Correct ! 10 out of 10 ! Very few people know this.
Hi Socrates, what were you referring to in the above statement? Thanks.
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Old Feb 13, 2005, 9:50am   #26
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hlpsg started this thread
Quote:
Originally Posted by sehik
Thanks for that, i think the sort learning a 'learner' like myself and perhaps a few others need, is a course that focuses on technical analysis. Any info on this will be appreciated.
Hi Sehik, you can also check out http://www.mta.org/

HL
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Old Feb 13, 2005, 2:48pm   #27
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Cfa

I woldl have to agree with you sir. I spent a large amount of time working for level 1, but did not pass it. I won't be spending a similar amount of time trying to do it again.

why? becuase the corpoate path isn't for me. However if anyone reads this and is looking to rapidly progress up the corporate ladder, then I would say that the CFA will help you no end.

Also, ensure that your HR dept. actually sends the relevant paperwork and fees off to the US, you don't want to spend 12 months studying for one exam. AMIR / CFA institute are hugely anal, there is no flexibility.

sorry, its a sore point!
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Old Feb 16, 2005, 12:26am   #28
 
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Technical Analysis

Quote:
Originally Posted by hlpsg
Hi Socrates, what were you referring to in the above statement? Thanks.
I was referring to post number 20, above.

The reason for my comment is that before you can progress to total proficiency in any market, in any instrument, under any conditions, in any exchange anywhere in the world, at any time, which is the "mission" for expert traders, you ought to gain proper proficiency in Technical Analysis first, as a proper grounding in what is essential education for any trader.

After this is achieved there is much further work to be done, but first things first.

This is because all liquid and properly regulated markets operate on similar principles.

Prices change according to supply and demand, and because ot the imbalances that are caused to exist between them, and not for other reasons popularly bandied about.

Each Exchange has its own parameters of regulation, and operational requirements. Each instrument has its own characteristics in terms of price behaviour, range, intent, use of time, and of course Volume, etc.,

This makes each instrument specifically different, but similar in its response to schedules relating to what I mention above.

Fundamental Analysis has its place, for long term investing, but not for active trading.

Sadly, Fundamental Analysis is frequently included in the syllabuses for many professions dealing either directly or indirectly with the market. This is a point of weakness.

Many professionals are startled and even shocked to realise, when presented with the correct facts relating to technical analysis, that they are using the wrong yardstick persistently, and therefore, are baffled as to why they results they get are not the ones they would expect in accordance with what they have been taught.
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Old Jul 4, 2005, 4:40pm   #29
 
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cfa

cfa exams are excellent and are well recommended. You can pick up the notes for next to nothing on ebat
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Old Jul 4, 2008, 5:33am   #30
 
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technical chart reading

Socrates is obviously well schooled in reading technicals on any chart he chooses to trade . I like the no nonsense reply to these questions of where to put your energy into becoming successful as a trader . I would like to add a little tidbit morsel of insight I have gained thru 8 plus years of full time trading. Price is where you should focus your energy in looking at multiple time frames . The reports that are releasing economic news are like magnets -- be it negative or positive news . Remember the markets anticipate what is to come more than they lag . Every day is a new day and each morning new batches of information should be weighed in your decision to be a buyer or a seller along with having read the charts before hand . Some traders are totally mechanical and some of us use both technical and market sentiment from new information . The skill needed is to know how to read in the technicals what is being anticipated tomorrow as well as today .
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