大家覺得CFA課程與現實相符嗎？ access, actually, knowledge, investing, buying

w128

I just finished my CFA level 3 exam and I am in engineering. I am thinking how much of the material are actually being used in reality and ibanking. Any thoughts?

I don't know how to apply my knowledge to help me to do personal investing, e.g. I probably wont calculate beta before buying a stock and as a average investor, you wont have access to most historical data anyway. And seems like the whole class is just suggesting you to buy index and you can't beat the market most of the time with active management. Apart from making your resume nicer, how do you think this exam can help you?

Also, it seems like estimating all those parameters with high and low values will give you a ridiculous range of final values which help you nothing. E.g. The high estimate of this stock is 1000 dollars and low is 50 dollars. Do you buy now???

And how do you actually find out r and g in reality with reasonable accuracy??

I am not any way better at picking stock than before taking the exam i really want to learn something practical.

[此贴子已经被作者于2010-6-10 4:40:02编辑过]

z3237515

Just my $.02.

The short answer is yes, if you're working in Asset management or PE/IB in US. But for the personal investment, because the knowledge system of CFA does NOT cover Technical Analysis or Trading Strategy, so it's quite limited.

conscript

道德于现实不符

tommyyxh

QUOTE:

以下是引用conscript在2010-6-10 10:19:00的发言：

道德于现实不符

不好意思，那是中国吧，这个道德再中国没法混，因为再中国，投资行业没有道德可言！！！

不过在国外，监管还是很严的，尊崇CFA的道德标准一个是可以帮你避免违法，一个是让客户对你有信心。。。

 

不过说真的，CFA真的不该去中国，中国特色，CFA是水土不服的！！！！

louxfchen

在中国，cfa的一切都是有价值的。

价值在于，和cfa宣扬的反着来就是对的。哈哈，这个参照物难得啊。

swinerton

i work for a US based hedge fund as an analyst.

To be honest, 80% of level 3 is useless, at least for my daily job.

As to ethics, guys, don't think US is paradise. Stricter regulation is true, but definitely still lots of insider information and rumors on the street everyday.

The criteria is: Don't abuse it.

Well, I work for a fundamental oriented fund not a quant shop, so those trading strategies such as VWAP, implementation shortfall are totally bullshit to us. Maybe useful for algorithm trading shops, i have no idea then.

Level 1 and part of level 2 are definitely helpful, but just very basic knowledge. You can not rely on CFA stuff to be a great investor.

cfacfa10

支持6楼观点。终于有个业内的明白人来发言。

我也认为一级二级的内容更实用。我一直在sell side, 先做行业研究又转去M&A. 基本分析是实实在在每天都在用的。这个不在于你在哪个国家。

技术分析学派和CFA 的价值投资完全背道而驰。CFA Program绝不可能cover 所谓的技术分析。就像你不能说一门英文教程quite limited, 因为里面不教中文。

2楼的，你的英文只是托福语法改错水平，建议你不要再来BSO. 坛子里并不像你想象的尽是菜鸟新手。只不过 多数人不屑于说明罢了。

z3237515

楼上的何来那么多的愤怒？先深呼吸一下。请不要动不动血口喷人，很没有修养的说。每个人的背景和经验不同，看待事物不一样是非常正常的，共享出自己的想法供楼主参考那很好，不是在辩论决赛，要对不同意见的人斩尽杀绝。就这么简单的事，每个人有不同经验大家分享这就是论坛的目的。对于我自己的经验，技术分析在投资期货和外汇的时候帮助很大。CFA比较正统，对许多概念清楚了，作为做分析的是基本功。

Libero

博而不精的东西怎么可能有大用，难道你是领导吗？注会相对（注意是相对）精而不博，实际上却在更广的领域得到更大的亲睐。投资、金融实在太宽泛了，CFA在众多尚未定下专业的菜鸟面前占了巨大的便宜-----投资领域最著名证书。其实干这行的无非是逻辑分析能力强的、公关能力强的、后台硬的、胆大心细的、外语好的、组织能力强的、财务能力强的、法律法规能力强的、流程非常熟悉的等等各种各样人的组合，哪怕只具备一样就足以成为牛人，而CFA就仅仅等于投资相关知识各方面都懂那么一些，只是一个课程而已，如果你学业扎实了，考CFA不就是一个熟练度的流程而已吗？

cfacfa10

8楼同学请深呼吸，

淡定呵淡定。

我也是发表自己的观点，我的观点就是不同意你的观点。还是说中文舒畅吧？你可以站在道德的制高点来血口喷人了。

我说你英文不行，那是事实 那句：because .... so ....

没有自知之明，别人提醒你，应该心存感激才对。你这样... 很没修养的说...