Go for CFA or not?

[Algo_Design_Kid]

Quote from newwurldmn:

Since you don't have a job, if the money isn't a problem I would do the cfa.

It may or may not help you get a job but it definitely won't hurt. And commit to doing all of it. No one cares if you just passed level 1 or 2 unless you are in the middle of doing the next level.

To save money, don't buy their books. Just buy the cliff notes from schwesser. Everyone else uses that and so the curve is really built around schwesser materials.

I did all three levels. Never got me paid more but improved my stock at the company I was at.

OK cool. Sounds good. Do you still have the books laying around you want to get rid of? Or are they older? Thanks

 

[Algo_Design_Kid]

Quote from TigerBalm:

The CFA is most valued by other people who have done the CFA. Basically, they think it's like a Navy Seal tattoo that shows that you two are brothers. You've seen the war, what it's REALLY like in the trenches, etc;

Thus, it makes sense the most when you know for sure that the decision-maker for your target job is a CFA himself / herself; they will value you above other candidates (without a CFA) in the interview.

I had to laugh after I read this. Probably very true. Same thing could be said about someone going to the same college as someone else etc. LOL I hate people sometimes.

 

[newwurldmn]

Quote from Algo_Design_Kid:

OK cool. Sounds good. Do you still have the books laying around you want to get rid of? Or are they older? Thanks

tossed the books. better to get the current ones as they change the topics.

 

[artfartdart]

Quote from Maverick74:

In a perfect world, we would all get to sit down when we are young and get a video of our life to come and see all the things we did and didn't do, the mistakes we made, things to watch out for and then we could take that information and perfectly plan the alternative to that life where everything would work out perfectly. Unfortunately we don't get that glimpse. We have no idea what our future will hold. None. I promise you will go through major changes every 10 years of your life and in some cases transform into a completely different person with completely different interests.

So the optimal strategy seems to be, learn as much as you can about everything you can given whatever available time you have at what you believe is a fair price. If you follow this formula you will find that while you might not be perfectly hedged in your future life, you will be ahead of most. Good luck.

Solid, +1

 

[artfartdart]

I am a CFA, and no one has rolled out the red carpet for me because of it. However, (1) I have zero equity/fixed income research experience and (2) I don't take advantage of all the networking opportunities from the local society.

So I'm not really even sure if my response clears anything up for you, OP.

 

[Algo_Design_Kid]

Quote from artfartdart:

I am a CFA, and no one has rolled out the red carpet for me because of it. However, (1) I have zero equity/fixed income research experience and (2) I don't take advantage of all the networking opportunities from the local society.

So I'm not really even sure if my response clears anything up for you, OP.

Well, has it at least given you the opportunity to get a decent job somewhere? I mean at this point, there is basically nothing in finance for someone with a bachelors degree and less than 5 years experience.

 

[FCXoptions]

Quote from Algo_Design_Kid:

there is basically nothing in finance for someone with a bachelors degree and less than 5 years experience.

Get your foot in the door at a bank doing some low level job. Prove your worth and network and you should be able to move up the ranks from within. Just an idea if you are job hunting.

 

[artfartdart]

Quote from FCXoptions:

Get your foot in the door at a bank doing some low level job. Prove your worth and network and you should be able to move up the ranks from within. Just an idea if you are job hunting.

+1

 

[jack hershey]

Quote from bankroll:

Sorry to hijack the thread a little, but what kind of trader one will be by studying these subjects, and what exact books or sources do you mean?

As far as I know traders come in shapes and sizes. There are classic books like Reminiscences but no one talked about computer science and all that then. I know, the market was different (or fundamentals didn't change? who knows?). Tricky question.

the CFA stuff is total bullshit for learning to trade.

 

[xandman]

Wow, Art. I feel sorry. I always thought a CFA was a ticket into I banking or invmgt. Guess the market has changed. Just like the flood of quants with an MS wanting hedge fund trader jobs. That will wane,too.

Anyway, CFA is overkill. You will have paralysis by analysis. Trading is in between CFA and card counting at the casino.