5 Million Dollars. 10 Years. This is the story of my journey.
I just finished re-reading AI when I looked out of my window and saw this: My lousy photography skills (ha ha! what skills?) totally don’t do justice to the picture, but somehow I feel more peaceful. Even though I don’t have 100% confidence in passing, I kinda have a perspective that failing this exam in [...]
I just took the Sample Exam for L2 and I had to say I failed miserably. The interesting thing was that I also failed the L1 Sample Exam miserably… but I scored 10/10 > 70% in the actual exam. How’s that for correlation Here, take a look. And I’d taken the L1 sample exam even [...]
So what are the rules that you use to remember the differences between current rate and temporal methods? I tried reducing these two methods into a minimal set of rules that I can remember (an earlier rule overrides the subsequent ones): Common stock: always use historical rate Monetary asset/liabilities: always use current rate Current rate [...]
So, here we are. Months of studying and burning weekends, snubbing friends and relatives, have brought us all to this point. We have exactly 12 days left to the exam. What are you going to do in these last 12 days? Me, here’s what I’m gonna do: See you on June 6th, fellow candidates
Durbin-Watson. Breusch-Pagan. White. Pastor-Stambaugh. Hanson. Fama-French. Dickey Fuller. So many names! So little time!!! (Can you remember which names don’t belong in the group?) I’m just thinking about the format of Level 2 exam. There will be 20 item sets of 6 questions each. If we look at the topic area weights, the topic weights [...]
Woah! What a mouthful title. In any case, I’m back after such a long, long hiatus. There’s a rather long story behind that, but for some other time perhaps. Today I just want to derive the formula for the variance of an n-asset portfolio when it is equally weighted (i.e.: each asset has a weight [...]
As I’ve so shamelessly advertised a few days ago, I passed CFA Level 1 Exam with pretty good result (all sections > 70%). Now, a lot of people got this kind of result as well. Just look at the AnalystForum’s June 2009 Level 1 result thread. Some of them are probably a lot smarter than [...]
I’m VERY HAPPY to report that my learning strategies apparently worked!!! Obviously the big major humongous thanks go to: My wife, who’d been very patient with me for geeking out for many, many weekends, and was supportive through and through. My parents, who had been very supportive and were obviously very proud to hear that [...]
I’ve been going through the Corporate Finance practice questions, many of which are about calculating Weighted Average Cost of Capital (WACC), a.k.a.: Marginal Cost of Capital (MCC). The formula is simple: WACC = wd[kd(1 - t)] + wpskps + wcekce So just like its name, it’s basically a weighted average of the 3 capital components: [...]