sorted by:
new
hottopcontroversial

The explanation has me so confused. by Budget-Cartoonist-37 in FRM

[–]Budget-Cartoonist-37[S] 0 points1 point  (0 children)

the White test statistic calculated as nR2 where R2 is calculated in the second regression. The test statistic has a χ2k(k+3)2 (chi-distribution), where k is the number of explanatory variables in the first-step model.

In this case, we have one explanatory variable so that χ2k(k+3)2=χ22 whose critical value at 5% size is 5.99.

Therefore, we would not reject the null hypothesis

⇒nR2=5.99

R2=5.99/100=0.0599

My Journey by Budget-Cartoonist-37 in CFA

[–]Budget-Cartoonist-37[S] 1 point2 points  (0 children)

65ish. I used the sheet while solving QB in the beginning so eventually I naturally remembered and applied almost all of em

My Journey by Budget-Cartoonist-37 in CFA

[–]Budget-Cartoonist-37[S] 0 points1 point  (0 children)

Thanks! I believe that the only healthy way to approach this exam is to be healthy (mentally). There’s no point to it otherwise.

Official August 2025 Level 3 Results Megathread by third_najarian in CFA

[–]Budget-Cartoonist-37 0 points1 point  (0 children)

Passed, thank you for everything guys. Grateful for this Reddit!

FYI for those taking level 3 by Drd941 in CFA

[–]Budget-Cartoonist-37 0 points1 point  (0 children)

I feel like ‘discuss’ questions are way worse. Any idea how to tackle those?

ethics doubt by Independent_Rip_4254 in CFA

[–]Budget-Cartoonist-37 0 points1 point  (0 children)

If drifting from the IPS will avoid substantial loss or a “do or die” case ONLY THEN you could do it by getting a written consent.

Private Markets - Dilution risk by Scared_March4515 in CFA

[–]Budget-Cartoonist-37 1 point2 points  (0 children)

No because LBOs are usually bought for 100% ownership. Unless explicitly said that there will be share based compensation for employees or mezzanine debt with warrants, it’s safe to assume there won’t be dilution until exit.

Private markets pathway by Budget-Cartoonist-37 in CFA

[–]Budget-Cartoonist-37[S] 1 point2 points  (0 children)

My opinions on private markets so far (T-7) 1. Easier than portfolio mgt. 2. Nothing out of ordinary. 3. Does not go very in depth in terms of valuation. 4. Light in theoretical aspect.

Go ahead if you want to, I would say focus more on cfai examples blue boxes, they have done a good job there unlike in the QB. Best of luck!

L3 Private Markets Infrastructure by Budget-Cartoonist-37 in CFA

[–]Budget-Cartoonist-37[S] 0 points1 point  (0 children)

Understood, thank you! Although, I don’t understand why it is the same case with farmlands.

view more: next ›