The CFA Is a Scam



Is the CFA Charter a waste of your time and money?
by Sarah Butcher 1 December 2016

http://news.efinancialcareers.com/au-en/244158/is-the-cfa-charter-worth-it/

It takes 900 hours (at least) and will cost you dear in lost social and family time, but will getting a CFA Charter really make a difference to your finance career? Not necessarily. We spoke to a selection of finance professionals who’ve slogged their way through it, and they’re not all enthusiasts.


The leveraged finance professional: “I don’t regret it, but it wasn’t worth it”

“Gaining the Charter wasn’t easy. I became a Charterholder seven yeas ago after passing every level the first time. I was working full-time whilst taking the qualifications and wasn’t sponsored by my employer. I studied long hours, both at the weekends and before and after work. I was lucky though – I know people who paid for expensive evening classes and had to take each level twice!

... ...

The risk manager: “Getting the Charter was a slog and it hasn’t enabled the career change I’d hoped for”

“Having the CFA Charter is definitely an advantage: it adds credibility and is a signal of competence. However, I was hoping to use the charter to move into asset management and so far that hasn’t worked out. I feel like that Charter will only enable this move if I combine it with heavy networking and intense job hunting, which is hard when I’m holding down a full-time job.

... ...

The fixed income portfolio manager and CFA Level 1 teacher: “The CFA Charter was very worthwhile and makes you stand out in the job market”

“The CFA Charter isn’t just about acquiring Masters level knowledge by studying for the CFA exams. It’s also about attending events which increase your understanding of financial markets in the broadest sense, networking, and becoming more attractive to employers because of your proven experience and obvious interest in finance.
More...
 
Last edited:
Is the CFA Worth It? The Surprise Answer with 5 Reasons

Last updated: September 15, 2016 by John / Stephanie

http://financeresume.net/is-cfa-worth-it/

1. CFA Exam Preparation is a Huge Commitment

2. The CFA Program Could be Costly

3. The CFA Title Alone Cannot Land You an Investment Job These Days

4. Is The Title Really Useful?

5. Don’t Do It Simply for Personal Challenge

Is the CFA Worth It? The Designation isn’t for Everyone
More...
 
CFA is certified 'financial' analyst that is what accountants been doing for 100 years or 2000 years since they invented commerce and bookkeeping etc..

finance. profit and loss revenues etc.

the problem is the data is inaccurate and FAKE DATA . bad data in bad data out. the analyst is analyzing paper , you would have to trust the guy signing the documents, ceo don't want to sign the financial reports. after enron. before ceo won't liable if the financial reports were 'fraudulent'

reporting fake revenues, or not reporting revenues, or hiding losses using accounting foreign accounts or subsidiaries etc. accountant isn't as easy as it looks. TAX RULES ETC.

with 'creative accounting', a company can look very profitable or look like it's losing a millions ie (non-cash capital depreciation etc) or investment losses off balance.



OddTrader said:
The CFA Giving One An Extreme Belief In Their Own Convictions in a World That's Not Black and White

The CFA provides charter-holders with a black and white version of the world while studying and then sends them off to work in a marketplace filled with shades of grey. The history of high finance is littered with the corpses of people who simply could not fathom that they could be wrong. Asset management, more than virtually any profession, is the domain of Black Swans and survivorship biases. There is ample evidence of finance professionals attributing good fortune to intelligence and not luck, and bad fortune to luck but never to a lack of intelligence.

I realize that this may not sound like life and death to the average person, but these CFA holders become the portfolio managers that make the investment decisions for the entire system. This means your favorite university's endowment, your beloved charity's trust fund and of course, the retirement income of virtually everyone in America including you, your dear sweet Grandma and Beyonce.

Telling people like this that they can solve finance and solve the markets is a critical mistake. There is no equation or unifying theory to finance no matter what people say. And introducing a whole bunch of people who have an unyielding belief in their own capacity to solve any problem is a dangerous thing when the problem at hand is unsolvable. However, an unsolvable problem with a massive paycheck is one of the few things that will always rope smart people in and this leads us to the final and potentially largest problem....

http://www.huffingtonpost.com/lewis-krell/the-cfa-is-a-scam_b_7490348.html
More...
 
marketraiders said:
...
the problem is the data is inaccurate and FAKE DATA . bad data in bad data out. the analyst is analyzing paper , you would have to trust the guy signing the documents, ceo don't want to sign the financial reports. after enron. before ceo won't liable if the financial reports were 'fraudulent'
...
More...

Hmm. Hopefully you can hang around until Wednesday, when I plan to post a video of ladder data. Then you can tell us all about the "bad data in, bad data out."

Just chill out man.

 
You must log in or register to reply here.
Back
Top