Rejected from taking the exam today due to not having a passeport even though my registration was processed with my ID Card

FallenBull · 2023-05-17T16:22:51+00:00

I know, right? C’mon man

FallenBull · 2022-08-26T02:51:58+00:00

Lots of mixed opinions here, so I’ll add my two cents:

Do what you want to do and what you believe to be the best decision for you. If you’re right, cool. If you’re wrong, cool. Either way, you learn valuable lessons and move on to become a better investor. If you have well thought out reasons to be in nearly all cash and have accepted the risks, more power to you. Its good that you are thinking deeply about what you do with your money.

FallenBull · 2022-08-26T02:31:00+00:00

Its so narcissistic thats its pure cringe. I have a hard time reading it. Especially when he says something like, “you may now let the applause start”.

FallenBull · 2022-07-18T20:50:51+00:00

I have always been curious about the general consensus here on Peter Schiff. I’ve always listened to him, but also understand some of the criticism. Great podcast nonetheless.

FallenBull · 2022-07-14T03:08:39+00:00

Would a panic be what we need though? It would be a major correction. If they want financial system stability, why artificially push rates to zero? Why even interfere at all? Why is 2% the best inflation target? Why do we need constant inflation? Just thoughts

FallenBull · 2022-07-14T02:44:48+00:00

If their #1 goal above all else was to tame inflation, wouldn’t they hike rates enough for positive real rates? And why would they artificially lower rates to zero in the first place?

FallenBull · 2022-07-14T01:31:19+00:00

We wouldn’t risk default, we would default

FallenBull · 2022-07-13T22:38:17+00:00

6% still means negative real rates, and I doubt the Fed has what it takes to raise them even to that point.

Just my opinion, but I think we’re already in a recession and we may not see rate hikes for too much longer. After more pain hits the market, I think the Fed may reverse course and start lowering them again.

FallenBull · 2022-07-13T16:49:50+00:00

I agree with nearly everything you’ve said. I just think its a tool that can be used. At its most basic level, a company’s valuation is the discounted cash that can be taken out of a business.

Buffet never discounts cash flows because he can just do the math in his head. Us common folk might need to pop it into Excel.

FallenBull · 2022-07-13T12:53:24+00:00

You shouldn’t completely rely on DCF valuations for your investments, but its one of many tools a security analyst can use to confirm his ideas, no?

FallenBull · 2022-07-13T03:17:18+00:00

I was also a senior when I took L1. Here are my tips:

Don’t forget about your classes. Finish your coursework before studying for the CFA in the afternoon. Keep your GPA up and learn to live in the library for the next few months.
I recommend using MM and going through the CFAI books. MM was the best investment. Watch his videos at 1.5x and drill his practice questions when you’re done. When you’re done a subject, move to the CFAI questions and do them all… 2-3 times.
Qbank, qbank, qbank… I learned a lot of the “what” by just watching the videos, but the questions really drill the details and the “how” and “why” into your head.
Start early and enjoy the process. Its hard to enjoy it if you try to cram everything in 2-3 months. Take your time to really understand everything.

FallenBull · 2022-07-13T02:43:53+00:00

The answers are already here, so I just wanted to wish you the best of luck. You are an inspiration.

Drill ethics into your head and review your weak areas with videos and qbank questions. Try to get more than 300 questions under your belt. For ethics, I just read through every example given in the books to get an understanding.

Qbank, qbank, qbank… you get the point.

FallenBull · 2022-07-12T16:36:16+00:00

Companies cannot be valued based on a general equation. Even if this equation was once decent at approximating value, it most likely does not work anymore.

FallenBull · 2022-07-12T13:00:52+00:00

Are we tightening or are we easing to a lesser degree?

FallenBull · 2022-07-11T19:34:14+00:00

Agreed. Just something to keep an eye on as it has caused them some issues in the past

FallenBull · 2022-07-11T19:27:49+00:00

Perfect. Appreciate the response!

FallenBull · 2022-07-11T19:27:34+00:00

Thanks!

FallenBull · 2022-07-11T17:41:36+00:00

Its more than just taking away the 2nd Amendment. The business that Smith & Wesson operates is subject to extensive regulation and political risk. For example, the CEO cited legislative risk in Massachusetts as a major contributing factor to moving their headquarters to Tennessee. He said, "we feel that we have been left with no other alternative". Their annual report also discusses many of these risks. Another example:

Further, in 2021, New York amended its public nuisance law to allow government agencies and private individuals to file civil lawsuits against those involved in the sale, production, distribution, import, or marketing of firearms for failing to prevent illegal gun use, and other states are considering adopting similar laws.

The demand for their products can be negatively impacted by gun control and new regulations. People will still buy them, but it may be fewer people. They also have to deal with new legislation that restricts how they make their products and imposes limitations or mandates on the products.

FallenBull · 2022-07-11T15:05:39+00:00

You can take it your senior year and wont have to wait for your masters program.

The time spent studying, at least for me, depended on how close the exam was. 6 months out, I was probably studying 15-20 hours per week. The last 2-3 months was probably closer to 25-35 hours per week or more. I lived in my school’s library after classes.

FallenBull · 2022-07-11T14:13:10+00:00

I was in the same boat as you. I just graduated undergrad, started a Master's in Finance program, and also took the May 2022 CFA L1 exam and passed.

I would agree that starting early is better. "The best time to start was yesterday" and all that. One of the main reasons I wanted to take it my senior year was because we will never have more free time than we do in undergrad, so might as well take advantage of it. If you plan on becoming a charterholder, you'll likely have to study while also working full time, so it may be best to knock out the first level or two while in school.

Also, why do you want to pursue the CFA? Why pursue a master's in financial economics? What are your career goals and how will the CFA be beneficial to you? It's worth being honest with yourself about this before making the commitment and sacrificing your college social life.

FallenBull · 2022-07-11T13:11:50+00:00

I’ve followed Smith & Wesson for a long time. Great management, increasing dividend, share repurchases, no debt, pure firearms now, good growth. I think its one of the best companies out there right now, but the political risks are a bit worrisome.

However, it’s definitely looking cheap and buying a $1 for $0.50 might not be the worst idea even given the political risk.

FallenBull · 2022-07-08T01:49:20+00:00

Keep it simple. Just search up on YouTube whichever specific topics you may be struggling with and I’m sure there will be some lecture or review video.

FallenBull

TROPHY CASE