Straight Talks, Straight Facts. This is why I love this channel.

@straighttalks-ajsrmek323

2 жыл бұрын

Thanks for the support, Dylan!

It goes like this: 1) MBA from a top 20 school 2) CFA 3) rest of MBAs

@williamcresswell5209

2 жыл бұрын

More like the top 5 B schools. The rest of them know they aren’t really Harvard.

@jiawang520

2 жыл бұрын

1, connections, 2, who you know 3, how much ur daddy can donate to a elite college

@sophiamedici

2 жыл бұрын

@@jiawang520 So much accurate and realistic.

@davidglad

5 ай бұрын

@@williamcresswell5209 That likely applies in almost every direction you go. The irony is the CFA exams passed likely are more valuable than an MBA for people in a lot of non-finance fields versus people who just want to wave around they have a masters from a forgettable school and the money wasted. Some younger, more gullible me wanted to pass the CFA exams and then get a masters from NYU. Well, at least one of those would have probably gotten me to hit on all cylinders sooner. 30s me *knows* a masters won't have a sufficient ROI, but the CFA charter might.

I'm currently sitting for CFA level II. I am 44. I have an MBA from a good school. MBAs are a dime a dozen and really anyone can get this credential, it's not hard anymore. CFA is very difficult. It is highly respected....much more so than an MBA in my opinion.

@olegvoronov3685

2 жыл бұрын

I have CPA and MBA. I do not doubt that the CFA is a difficult program as well. But one of my classmates at the MBA program had a PHD in Pure Maths and had been underemployed for years and had to switch his career. I am certain that (for me at least) the PHD in Pure Math would be much more difficult than the CFA program. Would it be more optimal and beneficial for my career? I do not think so, sometimes more difficult is just that- more difficult.

@HG51_

2 жыл бұрын

@@olegvoronov3685 PHD in something technical is harder than the CFA. But the CFA is generally speaking harder than an MBA

@olegvoronov3685

2 жыл бұрын

@@HG51_ Have no doubt about it. I was talking about the fact that "harder" does not always mean "better" either for your employment opportunities or long-term job prospects. Was it harder for my classmate to take the MBA program after getting the PHD in Pure Math? Certainly not. He took the MBA because he was unable to get any meaningful employment with his doctorate degree; while his high school buddies with only bachelor degrees in accounting, engineering or 1,5-year diploma in computer programming were gainfully employed.

@amay9870

2 жыл бұрын

Thanks for sharing your experience. I always go through this doubt whether it worth the time and effort.

@MiguelGomez-ou9ni

2 жыл бұрын

You must be pretty smart because getting my MBA...well I mean my MFin....pretty much the same without the extra management courses was not easy by far. When I started studying for Level I felt that grad school really helped as it goes deeper into finance than undergrad.

Totally agree 👍. An MBA from a distinguished business school is certainly valuable but there are a couple of things to consider: 1) the cost can be restrictive for a student to participate especially in top MBAs; on the other hand the CFA is more affordable and people all over the world can participate in the exams and earn the same charter whether they live in USA, UK, Russia, Africa,etc... 2) depth and breadth of expertise earned in the CFA exams cannot be compared with taking 2-3 finance courses in an MBA. I studied MSc in Finance and still there were finance topics especially in L3 exams that i had not encountered in the past (i.e. manager selection, behavioural, portfolio mgmt, etc ..), 3) an indifferent MBA student who studies only to gain alumni and networking benefits and has no interest in the science will still gain the MBA. This is not the case with CFA, the free riders are penalized and you will never find a "below average" CFA charterholder who passed the exams by accident / luck. There are no free lunches in the CFA world

Just received my charter! Thanks for all the great videos. This reporter was so salty. His tears give me strength

@straighttalks-ajsrmek323

2 жыл бұрын

CONGRATULATIONS!!!!!

@william07122

2 жыл бұрын

Savage

@vedantchapale1262

2 жыл бұрын

I'm thinking of pursuing CFA What would the salary range for a charter holder Plz reply back 👍👍👍

Jared is just salty he didn't pass level 2

@Lolalai

2 жыл бұрын

Obviously

@olegvoronov3685

2 жыл бұрын

He can be biased, but he can be either right or wrong. “As reported by the Atlantic, more than 42% of life science PhDs are unemployed when they graduate.” So…..If I failed in my quest to become a PHD Graduate in Biology or Zoology (which are difficult programs as well), does it mean that the statement above is wrong?! My sour grape, salty feelings and etc may invalidate the stats mentioned above?

@mirahr4979

2 жыл бұрын

I think you are out of context. PhD doesn’t equal to CFA charterholder. One is educational degree vs one is professional cerification. Do you have any statistical proof that people who hold CFA charterholder program is unemployed? The journalist who wrote the article is salty bcs he wrote his own opinion “CFA wasteful” ONLY based on his experience of not passing the CFA exam itself + he was not even working in financial industry lol. If he write the article BASED on statistical proof + he pass the exam + he works in financial industry = maybe he article would be more valid otherwise NO.

@olegvoronov3685

2 жыл бұрын

@@mirahr4979 1) They can be and are equated, by the CFA institute itself. 2) Out of curiosity can you tell me please where did I say that they were?! The above-mentioned argument is: biased=untrue information. I just provided an analogy: I was unable to complete the PHD in Biology, and am salty and angry about it. My bias and feelings would automatically invalidate the stats that show that phd graduates are unemployed?! I can not be biased and say truth at the same time? But the program can be equated. This is acknowledged by the CFA itself. This is the quote from their website for instance, the CFA states that: "The UK National Academic Recognition Information Centre .. benchmarked the CFA Program and the CFA charter as comparable to a Qualifications and Credit Framework (QCF) Master's Level 7." Certainly, it is possible to get a Phd in professional subject as well (Accounting, Business, Psychology etc). The curriculum of most of educational programs in accounting, finance overlaps with the curriculum offered by the CFA, CPA and etc. It is difficult to be unemployed especially for a long time with any designation- simply because sooner or later you will need to eat and have a roof over your head, but the question is what type of employment do people get? I know people who cleared 2 levels of the CFA exams and work at the customer support centre over the phone, who are underemployed and work as financial advisors (job that has “post secondary diploma is an asset” in its description), and yes know quite a few people who are unemployed and looking for work with this designation. There is no stat proof, as it does not look like that the CFA does any research on this topic. Where is the stat of how many graduates from the program are underemployed, namely do not utilize the skills they were taught in the program? Who are overqualified with the CFA designation for their current jobs? We have these stats for undergraduates in Canada, the USA, the UK… What about the CFA? Everyone got the jobs in asset management and investment banking, related to the skills taught? The only stat I found is the one provided by the CFA: 4% of chartholders are unemployed. I am sorry but it does not tell me anything about the value of the skills taught by the program in the labour market. I work as a waiter or cashier with the CFA designation or I work as an investment banker in the Goldman Sachs…. In both cases I am employed, so we have 96% of employment.

@jiawang520

2 жыл бұрын

@@mirahr4979 charterholder here and delivery driver since 2007, if you are not the right color or race, do not know a lot of people, many charterholder a are unemployed

The funny thing is that earning the charter doesn’t mean you stop learning, it’s a lifelong process

He only passed level 1 and claims doesn’t remember/use anything he learned… So he doesn’t know how to calculate a return…?

@BoredToBoard

2 жыл бұрын

honestly if you can't remember level 1 material, then I don't know what to say...it's literally basic finance 101. No wonder why he didn't pass level 2.

Big fan of your videos. I’m just starting my L3 studies and wanted to throw out a video idea. I think i overview of progression you can expect to make in terms of your knowledge at each level would be really cool. L1 is more foundational, L2 very valuation heavy, L3 ….

I think what had spurred the article is the recent drastic drop in passing rates for exams where it bodes the question the prior cost/benefit of becoming a CFA charter holder (10% of original candidates) to now the cost/benefit becoming more drastic (4-5% of original candidates). If CFAI focuses on “just-qualified” candidates at each level and testing on broader 70-75% on Level I to pass and continue to become more specific on Level II and III, it will create a better framework and more realistic ability to gauge how FULL CFA (passing Level 3) is more beneficial as you build upon the knowledge instead of just picking and choosing random parts of the curriculum to be tested. But just my thought. tldr: recent difficulty in exams make people question the cost/benefit and should be a better framework of how each level is structured.

Hey Great Video, your points about how the CFA could become a license is how the CFA interacts with regulators in the UK, where CFA does offer a less difficult exam called the IMC (which does need to be paired with either a pass of level 1 or a top exam from one of the other relevant professional bodies like CISI to become authorised).

@Chessmapling

2 жыл бұрын

That’s pretty cool, I wish there were a similar option in the US

From someone in the comment section of the article in response to the journalist's claim that the CFA is for asset managers and investment researchers: "this is the WHOLE POINT of the CFA charter. It's for asset management and investment research. It's not for hacks who like collecting easy coursework certificates." Ouch!

@MiguelGomez-ou9ni

2 жыл бұрын

I agree, as a person with imposter syndrome I'm not thr fake it til you make it type.

@mindcache5650

2 жыл бұрын

Except the most successful fund mangers never did a CFA and 99% don't beat the market anyway. The difference is purely charges and fees.

@jiawang520

2 жыл бұрын

Ok, in asset mgmt 1, markets are random in essence 2, nothing is going to get u in other than connections, being born at the right place, skin color 3, family pedigree 4, investment return has nothing to do with skill in the short turn

@mindcache5650

2 жыл бұрын

@@jiawang520 The CFA is fantastic .....for the CFA

@jiawang520

2 жыл бұрын

@@mindcache5650 are you talking about the CFA institute?

I'm a CPA, a CMA, and a CFA L2 candidate working as a Finance Analyst in a US public listed co. I ventured into the CFA program because I wanted to polish and learn more about Finance as broad as it is! And I couldnt be thankful enough for having done so. It's way more difficult, yes! But it's all worth it as I have learned a LOT in the program than ever before. Getting into the program is one of the best decisions I made. And personally, as a professional I am more inclined to passing rigorous/ competitive exams to earn another credential than to having sit in a classroom or attend classes for 2 yrs regurgitating redundant topics. 5yrs in college didnt contribute much to me passing the CPA on my 1st attempt and to what I have learned all these years.

@straighttalks-ajsrmek323

2 жыл бұрын

How would you compare the difficulty of the CPA exams to CFA exams?

@vedantchapale1262

2 жыл бұрын

What is your salary range as you have 5 years of experience ???

I read this article about two days after I found out I had passed the level III exam and became a Charterholder and I just laughed. Chap clearly still has a bit of a chip on his shoulder and must have known that the disgustingly low pass rates would create huge debate. Got to give him a little kudos. This is the guy's job right. Get news to go viral to help pedal the fluff his team produces.

@xDreamSmp

2 жыл бұрын

Hey What's Your Age When You Passed Your Level 3 Exam ( and How Many Attempts Did It Take You To Pass All 3 Levels )

CFA programme in itself is mother of all finance.

In the UK we have the IMC offered by CFA UK. Often refered to as a lighter version and is is compliant when paired with CFA L1 to give investment advice

@emmanuelokoro5476

2 жыл бұрын

Is then advisable to get the IMC first & pursue the CFA later for a new comer into the investment management career, age 39, bachelors in Economics, 10 plus years in banking(retail & branch operations role?

I just got my charter so obviously I’m biased but I do think it is worthwhile. For me it was not that I think it will give me a huge jump in my career but I think it’s a good organisation with noble aims and something I wanted to be a part of. It has also given me a much broader view of the investment universe. I am an equity derivatives trader so that is quite specific and the CFA has given me a lot of knowledge about other asset classes and portfolio management in general. Of course it is a huge commitment and requires a lot of sacrifice. This last year I have missed a lot of my One and a half year old son’s first moments and that has been tough. Certainly do not get in to it lightly or underestimate the time needed but at the same time if you do obtain the charter it is you will have won you forever.

great points!

I have a masters in finance and am going to test for the CFA soon. Masters was super easy, CFA is insanely difficult

@straighttalks-ajsrmek323

2 жыл бұрын

Best of luck!

The article author has probably failed the CFA exam miserably.

@olegvoronov3685

2 жыл бұрын

Well, he may have failed, but he may still be right or wrong. Again as I mentioned above more than 42% of life science PhDs are unemployed when they graduate. If I was unable to pursue a PHD program in Biology, that does not mean that the statement above is wrong. I may be biased, but my I may be right.

@mirahr4979

2 жыл бұрын

I think you are out of context. PhD doesn’t equal to CFA charterholder. One is educational degree vs one is professional cerification. Do you have any statistical proof that people who hold CFA charterholder program is unemployed? The journalist who wrote the article is salty bcs he wrote his own opinion “CFA wasteful” ONLY based on his experience of not passing the CFA exam itself + he was not even working in financial industry lol. If he write the article BASED on statistical proof + he pass the exam + he works in financial industry = maybe he article would be more valid otherwise NO.

@olegvoronov3685

2 жыл бұрын

​1) They can be and are equated, by the CFA institute itself. 2) Out of curiosity can you tell me please where did I say that they were?! The above-mentioned argument is: biased=untrue information. I just provided an analogy: I was unable to complete the PHD in Biology, and am salty and angry about it. My bias and feelings would automatically invalidate the stats that show that phd graduates are unemployed?! I can not be biased and say truth at the same time? But the program can be equated. This is acknowledged by the CFA itself. This is the quote from their website for instance, the CFA states that: "The UK National Academic Recognition Information Centre .. benchmarked the CFA Program and the CFA charter as comparable to a Qualifications and Credit Framework (QCF) Master's Level 7." Certainly, it is possible to get a Phd in professional subject as well (Accounting, Business, Psychology etc). The curriculum of most of educational programs in accounting, finance overlaps with the curriculum offered by the CFA, CPA and etc. It is difficult to be unemployed especially for a long time with any designation- simply because sooner or later you will need to eat and have a roof over your head, but the question is what type of employment do people get? I know people who cleared 2 levels of the CFA exams and work at the customer support centre over the phone, who are underemployed and work as financial advisors (job that has “post secondary diploma is an asset” in its description), and yes know quite a few people who are unemployed and looking for work with this designation. There is no stat proof, as it does not look like that the CFA does any research on this topic. Where is the stat of how many graduates from the program are underemployed, namely do not utilize the skills they were taught in the program? Who are overqualified with the CFA designation for their current jobs? We have these stats for undergraduates in Canada, the USA, the UK… What about the CFA? Everyone got the jobs in asset management and investment banking, related to the skills taught? The only stat I found is the one provided by the CFA: 4% of chartholders are unemployed. I am sorry but it does not tell me anything about the value of the skills taught by the program in the labour market. I work as a waiter or cashier with the CFA designation or I work as an investment banker in the Goldman Sachs…. In both cases I am employed, so we have 96% of employment.

Much informative

The CFA program is difficult and it should be. It gives you a lot of knowledge and your ability to assimilate that knowledge and make good decisions is dependent on the effort you put in. If you want to know a lot about the field of investment you want to be a fund manager a global investment banker and may not have the opportunity to go to a high-profile University for an MBA. To me this is the most practical cost effective way to achieve the same goal. Now again having a high profile MBA or a Bloomberg CFA designation is still dependent on the intelligence the brightness and the ambition of the person holding the certification. . You might be a great salesman with good ethical standards as well as a great work ethic and you can make a lot of money. In my case it would enhance all of that.

As someone who is in the process of studying for CFA level II I am seriously reconsidering it. I am not sure that the CFA has truly kept up with the industry and particularly the significant role of IT. The course still barely covers any machine learning or algorithmic trading.

@gauravpatil7977

2 жыл бұрын

Then learn programming, programming knowledge combined with CFA and CMT is a great combination

I gained 20 IQ points, Thanks for that! I guess now I can confidently sit for an exam

The CFA is a certification that the free market has come up with that differentiates between skill levels. What the hell is wrong with these companies coming out with opinions attacking the free market?? I love that aspect about it. The optional and voluntary nature of it is how all certifications and licenses should work. The free market and private institutions ALWAYS work better than government solutions. Classical liberalism, baby. Can't get away from the facts that free market solutions like this WORK!

just passed 2021 May Level II. As a married day trader sitting at home, CFA program did not affect my friendships nor marriage. LOL when the man doesn't go out much, you will get a happy wife. ;)

MBA doesn’t make you a better manager.

@MiguelGomez-ou9ni

2 жыл бұрын

Manager of people? If you want to be a good manager era leader of people stop treating them like it's 1920 and you are in factory. Too many people manage the wrong way. I'm bigger than you mentality. Get loyalty and it all comes together.

Hey man I’m interested in talking to you regarding career change Into finance. I’d really appreciate if we spoke, I have many questions that you would help me decide. Let me know

As a civil engineer and amateur trader, I learned a lot reading through CFA level 1. I don't know how it will affect my career but still worth the time. Do you think I should go through the whole program?

@straighttalks-ajsrmek323

2 жыл бұрын

Only if you want to start working in Finance.

@4002rdibe

2 жыл бұрын

@Straight Talks I do actually. I like the content so far. Thanks

I got 10 IQ points, thanks CJ!

@straighttalks-ajsrmek323

2 жыл бұрын

Haha, thanks and its AJ!

If the mission is really correct, why make the exam competitive? Just keep a minimum cutoff like 70% and don't have a percentile cutoff. I foresee a scenario where the hardworking people score around 90 percentage but don't clear the percentile cutoff just because of how the trend has been (it's extreme but not impossible). Some of my colleagues who aren't CFAs but have somewhat the same knowledge base deter from taking the exam because it is notoriously competitive. To me, there seems to be a gap between the mission statement CFA has and how the culture of the exams has been developing

@straighttalks-ajsrmek323

2 жыл бұрын

You may have a good point here.

@christoffelbotha2087

2 жыл бұрын

This is the best and very true comment. Well said

@sanyukta8987

2 жыл бұрын

The CFA is slowly becoming like Indian professional exams and that is definitely not a good sign (I'm indian)

I am interested in this program, although my biggest concern are not the exams themselves - in the end they are just like all others exams you know you pass otherwise you fail them. But my biggest concern is the work requirement as i heard that you need other CFAs to vouch for you and then you need 4 years of experience. Now i am freelancer, got financial auditor and valuer stamps and i want to get the charter my continuing this way and not being employed. Can you offer me any insight on this matter and if its possible to achieve the charter this way ?

@straighttalks-ajsrmek323

2 жыл бұрын

Freelance work can count towards the work experience requirement, and yes you need 2 other CFA charterholders to vouch for you.

@CurseOfDeath

2 жыл бұрын

@@straighttalks-ajsrmek323 Okay, thanks for your answer. So basically can be any CFA, like collaborators, clients, etc

Level 3 candidate. Most of my top seniors were/are CFA charterholders....banking industry. I don't think i would do anything more valuable than studying for the exam...drank, party a lot enough already.

Since passing rate is so low, does supply and demand also applies to CFA holders?

@gehuu4540

2 жыл бұрын

YES

Hey mate, I'm considering doing CFA and I'm sure I'll be able to clear it,if I plan the schedule properly, but my only fear is investing so much time, I'm almost 30, have a couple of years of accounting experience, you think it is the right program to invest in to make a career?

@straighttalks-ajsrmek323

2 жыл бұрын

If you want to work in finance, yes it is the right program!

@Aman7164

2 жыл бұрын

@@straighttalks-ajsrmek323 thanks I think I'll start working on it, I feel positive thanks a lot!

CFA program definitely helps a lot in work, but seems not very helpful in finding a job.

@percycesar769

2 жыл бұрын

I passed CFA level1 some years back..but failed level 2 twice. It a good qualification...it really helps..CFA is right to keep the standard at a high level.

@xiangli1309

2 жыл бұрын

@@percycesar769 Yeah, Financial Analysis part is a big topic in level two. Level III seems much easier especially after online test.

@gauravpatil7977

2 жыл бұрын

If you don't have necessary skills for the job then obviously you are not gonna get a job even if you are a cfa

Note that passing LI and LII exempts you from the FINRA Series 86 exam, so yeah, there IS a form of licensing validation to the exams. That fact just highlights the shallow perspective of the writer.

Its a broad based program in Investments. Ofcourse if you have years of experience in a specific area it won't add much value. But the knowledge gained will always come in handy and is an entry way for a lot of young professionals looking to enter this field.

The curriculum is beyond great but the mps/cbt is a joke

I learned a lot from CFA and it gave me a holistic perspective on investments that is really valuable. It also promotes good ethics.

CFA > MBA

What I don’t get is why the CFA doesn’t carry more weight than education from a school like Wharton. The quality of education in university is so dependent on how you do in high school and you’re a child then, a CFA is something you earn completely on your own and isn’t dependent on outside factors like family wealth or connections that can help you get into a better school when you’re only 18

Hi i wanna take the cfa and i studied science can you guide me where can i start? Do i need a finance degree for this? Thank you in advance

@straighttalks-ajsrmek323

2 жыл бұрын

You just need to register to take an exam on the CFA institute website! You do not need a finance degree.

@williamcresswell5209

2 жыл бұрын

@@straighttalks-ajsrmek323 you do need a 4 year degree though. It does not have to be in finance but they kind of got that part wrong.

@straighttalks-ajsrmek323

2 жыл бұрын

@@williamcresswell5209 Good catch, thanks.

My friend has CFA level 3 and graduated from the ranked number 1 University in Canada - University of Toronto in political science, yet he has been underemployed for 15 years and works as a security guard. He is now 55 years old. He tried getting back into finance, but no one would hire him. The CFA is useless without proper experience.

@straighttalks-ajsrmek323

2 жыл бұрын

Sorry to hear your friend wasn't able to get back into finance... I agree that experience is more important than the CFA charter alone.

What it all requires is alot of enthusiasm and optimism and good positive mindset 👍🏻👍🏻

Any qualifications which are earned very easily don't give much benefit

Authors of these articles should be required to disclose if they're charter holders. If they tried to get CFA and failed, this can be sour grapes. If they never tried or not even in investment industry, are they qualified to write this article? I'll take more seriously a charter holder telling us that the charter is useless

@olegvoronov3685

2 жыл бұрын

Imagine your niece (or any other relative) asked you for your advise what would be a better program to pursue at the University: Spanish Language or Medicine? Are you supposed to have some training in medicine/language to provide her with any useful advice on her potential employability? Unfortunately, there are articles of chart holders there who say that the program did not provide them with any benefits.

@freddytang2128

2 жыл бұрын

@@olegvoronov3685 if I don’t have any experience in those fields, I would tell them to speak to someone that did those degrees. I would not claim to be an expert on things I never studied. And it’s one thing to ask “should I study a subject” and different to ask “is master of chemistry at xxx university worth the tuition”

@olegvoronov3685

2 жыл бұрын

@@freddytang2128 I can say what would be better to study: medicine or Spanish language. No need to be a specialist in those fields, especially given that a graduate in Spanish language may not know what costs are involved in studying at a Med School…. You just need to have basic knowledge on demography: the population is getting older, people will require more medical care and etc- your employment after graduation is almost guaranteed; on another hand you have lots of people who are native Spanish speakers at least in the USA, there is almost no premium on this language in the labour market. Neither do I think that it would be difficult for me to opine on the costs benefits of the various programs. There are some ratings of them. I know that the MBA/ law school in Harvard is better than the MBA or the Law School from the Long Island University, the degree from Oxford or Cambridge is much better than the degree from the University of East London or the Abertay University. I can go on and on down the list. Moreover, I am certain I am not alone and information that I will be able to provide will be accurate.

@olegvoronov3685

2 жыл бұрын

@@freddytang2128 I do think that you can opine on many things without trying or being specialist in them. Most people can say which country is safer Afghanistan or Switzerland without living in them; or which nation is more prosperous Sweden or Somali without visiting them. Just as I can opine which addiction or dependency is more dangerous- to tobacco or to heroin, without being a smoker or a drug user. So is with the value of the CFA- you can also express your opinion on it without being a chart holder.

no because i use some of the cfa exam stuff to use with my investing

Study programming and get a job as a quant in the financial industry. You can make a lot of money

@annajones9701

2 жыл бұрын

You need a mathematics degree and masters in financial mathematics

@ernestomorales6091

2 жыл бұрын

Actually wanna become quant :( I'm studying data science, but then i don't know what to do

Cfa would be much more valuable and respected if it wasnt offered by the shady CFAI institute that only priortizes their own $$

Yes and no... Depends on which branch in Finance are you in. I oversaw and participated in some Investment Banking recruiting processes where some friends, colleagues, and candidates were CFA's: none of them passed the modeling test. I haven't seen people who are "better" at Investment Banking because they have (or lack) the CFA. They don't have a "better" pipeline, close more deals, close bigger deals, more "interesting" deals, deals that have a more successful integration process, etc. Also, the appreciation of mental "toughness" is irrelevant and sort of a self-pat-on-the-shoulder for chartholders: 1) no professional is automatically more "dedicated" to *the job* or more "efficient" because he/she has/lacks the designation 2) it's all about the skills which are *actually* necessary for the job It doesn't matter if you climbed the Himalayas, the K2, were the first human to reach Point Nemo sailing alone, passed all levels in a single attempt, are an HBS Baker Scholar, etc. - if you *don't* know what is *necessary* for the job, you're not getting it, especially if it is a very competitive and/or highly sought position. The designation and the curriculum are actually great, comprehensive, and clear, and the professionals I've met are very successful in their careers. But so are others who don't have it. Would I recommend it? I would narrow my answer down to *yes* only if you're seeking to work specifically in investment advisory, specifically private investments and alternative assets investments. If you're thinking about public primary markets, I would recommend you read Bogle's masterpiece "The Little Book of Common Sense Investing": unless you're Jim Simons, good luck actually doing a good job "pretending" to be a money "manager" beating the VBIAX, especially in the long run.

@straighttalks-ajsrmek323

2 жыл бұрын

I agree with most of what you said. But going through the program definitely develops mental toughness.

@danigonzalezr01

2 жыл бұрын

@@straighttalks-ajsrmek323 ! Yes sir! Everyone knows that professionals with the credential, as you adequately put, devoted a great effort and invested energy and time to complete *successfully* a comprehensive program in investment management My point is, as a credential, it is helpful and necessary for very specific fields in finance

I'm 20 year old from India . The cfa is a golden course among the finance aspirants like me. Not only it gives me edge over others , I can pursue mba later with gmat getting waived so is most of the subjects. I hope to clear cfa lvl 1 soon.

@jiawang520

2 жыл бұрын

Dude forget this program,do software engineering, learn java, python java script, .jsp, php, j servlets, sql.. I am a chaterholder, Jia Wang, CFA, working as food delivery since 2007, wall street will never hire not connected none white guy, trust me on that.

Maybe a weird question but does anybody know the name of his glasses?

@straighttalks-ajsrmek323

2 жыл бұрын

I don't know the name but I got them on Glasses USA

@Jim99O

2 жыл бұрын

@@straighttalks-ajsrmek323 ty 👌 they look great

There are many courses that teach Investment banking with practical hands-on in Python or R- programming. CFA is just tons of theory with no relevance to a lot of stuff that is actually done in real life.

@Ruthlesspast

2 жыл бұрын

Any suggestions on courses?

I have seen all my teachers with CFA certifications, and they are not Rich.... I mean, if they can provide the best advice for investments, then why aren't they Rich?

@straighttalks-ajsrmek323

Жыл бұрын

Nobody said they could provide the best advice. But those people are probably not rich because they went into academia.

I think the main waste of time is that a portion of the material is useless. i.e Stuff to memorize just to make it hard but I doubt warren buffett uses those things often.... Also being only offered once per year is ridiculous. cpa is well respected and you can retake that test within a few months and not have to wait a full year.

@straighttalks-ajsrmek323

2 жыл бұрын

The CFA exams are offered multiple times per year now.

Bloomberg attacking their own customers since they provide a test prep. The average CFA salary in Canada according to the CFAI study is $280,000.

it is a waste

I try to tell myself that majority of people who talk down on the CFA couldnt pass a certain lvl of the CFA exams.

To the last point. If CFA charter-holders don’t get better returns then isn’t that point sort of valid? Ignoring that it may help you further your career or get a job because of peoples perceptions of its value what benefit does this knowledge actually provide if it doesn’t net better investment returns?

@straighttalks-ajsrmek323

2 жыл бұрын

No because I don't think being a "better" investor has to result in higher return. It could mean less risk, more discipline, etc.

5:37 goddaaaamn buuurrn 🔥🔥🔥

very well put arguments against the author!

Mba would have costed me 28k$ in a university which is tier 3. CFA program is costing me 4500$ which includes all the cost(provided I pass all the levels in one go) . I would choose CFA anyday over MBA. I come from a country with a per capita income of 2k$.

@straighttalks-ajsrmek323

2 жыл бұрын

Yea, CFA is far cheaper!

@vedantchapale1262

2 жыл бұрын

Bro are you from india ???

Man I did the CFA level 1 exam for the second time in August 2021, and just learned that I didn't pass. The pass rate was 26%. I must have put up to 900 hours in total for both levels. I did everything that was recommended: studied 2 to 3 hours each day for many months, did up to 10 mock exams for each exam and took 2 weeks vacation before the exam to study my guts off, 10-12 hours every day until the exam. Honestly, what's the point of making an exam so hard? I repeat, the pass rate in August 2021 was 26%. I blame the CFA Institute for mirroring hope to entering candidates that being a CFA charterholder is accessible and that it can be done with 300 hours of study for each level. This is NOT the case. If you want to start the CFA journey, I strongly recommend to get several years of experience in the finance industry before, and read many, many, many finance articles. People, this is not a joke, you need to know your stuff. The CFA is not for everyone! It however teach me how to study, like really study. But at what price?

@straighttalks-ajsrmek323

2 жыл бұрын

Jeez, sorry to hear that man...

@cool_cat6698

2 жыл бұрын

@@straighttalks-ajsrmek323 NP, thanks for your answer man! The point now is just to move on, no way I'm sitting for L1 a third time. But this is not the end! There are other options out there as well people :)

@cool_cat6698

2 жыл бұрын

@Lalchhanchhuaha Hmar yes I did, I went with IFT for the 2nd time. I didn't take the most advanced package, I took the intermediate one. Plus a friend of mine who passed his CFA lent me his USB key with mock exams from previous years, courses and exercises. Perhaps you'll have more luck than me :) It's ok now, I'm on my way to become a project manager. Failing the CFA is not the end haha :D

Its simple the author couldn't attain the CFA , he might be giving exams all these years but now he has given up...Hence he is criticizing the designation, he is just envious.

Jared's opinion might have got more credit if he's CFA chartholder.

There is a KZreadr afsal Hussein,that Said that even a degree is a waste of time.whats tour thoughts? From Portugal 🇵🇹🇵🇹🇵🇹

@straighttalks-ajsrmek323

2 жыл бұрын

No, university degrees are not a waste of time. Sure they are just a formality, but for many careers you need to have one.

Get CFA!!!!Periodt. If you fail, cry then rewrite till you get it, simple. lol

as a CFA Charterholder., it means nothing itself, we, Charterholders, should do our best to keep ourselves the most professionals of our business. As a Charterholder in Korea, I STRONGLY SAY that all CFAs BE THE MAN WHO LEAD THE CAPITAL MARKET.

@vedantchapale1262

2 жыл бұрын

Would you recommend me to go for CFA I'm in 2nd year high school How can I get in touch with you

I have both, Jared is a bit of a blow hard IMO. If you obtained a concentration of study in finance in your MBA program this was sufficient for you to pass Level 1. The guys I met at CFA boot camp weeks where way smarter than the folks in my MBA program. They also tend to be cunts. This makes the bulk of his article bogus. The CFA is good for what it is for institutional research and PM work. If you want to plan for clients or write news letters I agree your time is better spent else where. BTW I carry ChFC as well. Plan on pursuing CMT next year. Why? It’s kind of lilke how Hunter S Thompson put it once you start a serious **collection the temptation is to take it as far as possible.

All of these dont even have the cfa

@straighttalks-ajsrmek323

2 жыл бұрын

Exactly...

CFA is really great for those who wants to be an investor or to pursue a career in finance or a even a CEO.

CFA charterholder here, 2013, no job since 2007, now work as food delivery driver, this industry is too racist and nepotistic. Back in school now, just finished software engineering, now doing medical nursing degrees. Forget the finance field if you do not have a lot of natural connections, network, wall street is misleading young people into joining something that is not right for them. Jia Wang, CFA

@jiawang520

2 жыл бұрын

Hopefully, Russian, China and other meritocracies take over wall street and make these scumbags pay

It'll be really great if they make our job as a licensed one. That could be a crown for all of us as we put in all our soul and pass the exams even with low pass rates!!

To quote the smiths line Jared was whining about the 'troubled lover(CFA charter) he never had'...dude joined many who froze at second base camp of 'everest'......

CFA is a waste of time today. Better do a leading masters in finance with AI / machine learning and programming. Only program I would do is CAIA if in alternative investment space.

@HG51_

2 жыл бұрын

CFA can be done alongside with learning how to code, AI/ML. I like both finance and technology (Fintech startup) so am learning both

@BoredToBoard

2 жыл бұрын

You could instead just buy CAIA type books and just learn the material vs completing the CAIA program. Why do the CAIA when there are only 5k members and it costs $350 a year in membership? FYI - CFA is already investing in AI/Machine learning for candidates. For CFA charterholders, professional learning in this area already exists. I would argue that a leading MBA would be better than a masters in finance unless you only have a year of work experience. Also, programming is more relevant to fin engineering degrees than a masters in finance which would probably only focus on analytics and not coding. Just my 2cents

@annajones9701

2 жыл бұрын

@@BoredToBoard yes, but having the letters CAIA still is worth it. Is a charter. Same as CFA. People do for the letters and then focus on topics they prefer out of program with more learning deeper.

@BoredToBoard

2 жыл бұрын

@@annajones9701 I think CAIA will gain in value in the future so there is merit in getting it but if you are forking out $350 a year personally then you need to be ensure the charter is relevant to you. As an example, CIPM is a charter and would argue that it has limited value as a charter but the knowledge would be good if you were in portfolio analysis. I have completed CA, CFA and FRM and would argue that FRM is harder and more well known than CAIA and the only conversations I have about my qualifications is CFA.

@annajones9701

2 жыл бұрын

@@BoredToBoard pay for the charter fee from your passive dividend income stocks :)

I have one job on this channel - like and watch the whole videos

@straighttalks-ajsrmek323

2 жыл бұрын

Haha, thank you for the support!

Any other failed actuaries here?!! 😂

@rolandg8591

2 жыл бұрын

GUILTY! I heard it said CFA stands for couldnt finish actuarial LOL. It is true for me.