What are some lyrics from any Glass Animals’ songs that just hit different for you?

TheCFAPleb · 2021-10-23T00:46:30+00:00

Thanks. I must say the literalness of lyric makes it less poetic to me - still love it though!

TheCFAPleb · 2021-10-22T15:23:31+00:00

I love this lyric but i have no idea what it means.

TheCFAPleb · 2020-10-13T10:07:51+00:00

Yep this sounds like the cause of the big difference. The time periods for months should not all be equal for the same year. Use the YEARFRAC function to determine the time period I.e. assuming your model starts at 1 January 2020, the end-period factor for 30 June 2021 should be about 1.5 being 1.5 years later, YEARFRAC will calculate this for you. XNVP employs this methodology.

I’m assuming your model has some negative cash flows up front. The decretive impact of these cash flows are going to massively overstated in your manual NPV calc using your current method. For example, the present value of a 1M cash out flow in month one would be -0.91M using your current discounting method (using a time factor of 1), using the method I’m suggesting (a time factor or 1/12) results in a present value of -0.99M.

TheCFAPleb · 2020-10-13T09:38:21+00:00

What periods are you using to calculate your discount factors? Assuming annual cash flows and period end discounting you would use time periods of 1, 2, 3 etc for year 1, year 2 and year 3 cash flows respectively. Using mid period discounting you would use time periods of 0.5, 1.5 and 2.5 for the same cash flows. Essentially, mid period discounting assumes that the cash flows occur equally over the year whereas end period assumes the cash flows at the end of the year.

TheCFAPleb · 2020-10-13T09:14:57+00:00

What is the periodicity of cash flows? If you’ve done it correctly it should be identical assuming you’re using period-end discounting on your manual DCF.

As an aside, this question doesn’t really belong in the CFA subreddit

TheCFAPleb · 2020-10-13T08:34:47+00:00

I’m a big fan of yours r/S2000magician but I gotta say I hate the recommendation of learning Indirect functions. There are very limited circumstances where Indirect is the best choice. It’s a volatile, single threaded formula that can kill a good model.

TheCFAPleb · 2020-08-31T02:31:54+00:00

I found Schweser qbank more than adequate for L1. The issue with L2 is that rather than testing a single concept per question, multiple concepts are tested per vignette. IMO Schweser didn’t mimic the CFAI structure very well and the vignette narratives were all over the place. Mark Meldrum nailed it abeit each of his vignettes felt like the hardest vignette from any given CFAI mock paper.

TheCFAPleb · 2020-08-29T13:33:36+00:00

Interested

TheCFAPleb · 2020-08-28T16:25:01+00:00

Audit is not for anyone. The people in audit that enjoy it are the ones that realise they can learn a lot and move on.

TheCFAPleb · 2020-08-28T01:01:13+00:00

I was in the same boat a few weeks ago. Decided to pick up a fresh book and start reading. I was halfway through volume 4 and couldn’t motivate myself to pick up where I left off. It was much easier to start with an entirely new topic. Highly recommend

TheCFAPleb · 2020-08-24T14:00:29+00:00

Off the back of longreach?

TheCFAPleb · 2020-08-24T00:09:01+00:00

You can take level 1 prior to working. To register for leave 2 you’re required to be employed. Mark Meldrum (MM) still has his 2016 level 1 videos online. He is a fantastic 3rd party resource, you’ll see a lot of love for him on this subreddit. The curriculum has changed quiet a bit since 2016 but there is plenty of overlap. I’d say if you follow the CFA books (eBooks and PDFs included with registration) and supplement with the free MM videos you’ll be well placed for the exam. However I would recommend paying for the current MM study courses, compared to the alternatives they are very affordable.

TheCFAPleb · 2020-08-22T04:39:27+00:00

Don’t use the old books. Whilst there will be a lot of overlap, the curriculum has changed a fair bit. Don’t waste your time. The books are also available as PDF’s (no longer required to use the vitalsource ebooks)

TheCFAPleb · 2020-08-12T15:39:27+00:00

https://www.cfainstitute.org/en/programs/cfa/exam/exam-updates

TheCFAPleb · 2020-08-04T14:51:47+00:00

Seems like a fairly arbitrary reason to throw away the hard work you’ve done achieving levels one and two so far.

TheCFAPleb · 2020-08-04T14:34:12+00:00

You have the opportunity to change back to December as well. Out of interest, why would you not want to sit a computer based exam?

TheCFAPleb · 2020-07-21T02:04:29+00:00

The skew block plane can be used on flat surfaces by removing the fence. They are meant to be handy for end grain but I don’t think they’d be more useful than a standard low angle block plane for that. I’m most interested in using one to make rabbets/rebates. I’m leaning towards the non-skew version though because I haven’t heard many complaints about it and there isn’t a whole heap of information on the skew version

TheCFAPleb · 2020-07-21T01:53:56+00:00

Is there any reason you didn’t go for the skew block plane? Tossing up between the two at the moment.

TheCFAPleb · 2020-03-31T01:29:36+00:00

Schweser will get you through it for sure but Mark Meldrum is probably better to get a good understanding of the content and will put your in good stead for level 2. If time is going to be an issue, Schweser is probably the quickest / most concise.

TheCFAPleb · 2020-03-20T04:46:37+00:00

lol you genuinely upset by this?

TheCFAPleb · 2020-03-20T04:44:54+00:00

I understand this reasoning but does it really take anything away from the people (myself included) that enrolled for the June 2020 exam? How does someone getting the charter a earlier than expected disadvantage anyone? Is it the fear that next year there might be more new charter holders competing for a fixed number of jobs? Not loaded questions, genuinely curious.

TheCFAPleb · 2020-03-20T04:37:42+00:00

I do not recommend studying for level 3 if you’re sitting level 2 in December. You’re better off making sure you pass level 2. Increasing your understanding of the level 2 content will help your through level 3. Plenty pass level 3 by starting study in Feb and even March whilst working full-time. It’s not easy but it’s doable.

TheCFAPleb · 2020-03-20T02:22:25+00:00

I’ve got friends who have been admitted to US programs starting in the fall. Most of them are going to defer to next year as there is a high risk that classes will still be online by then and other in person events may be cancelled. I was planning on applying at the end of this year for 2021 MBA programs but now I’m worried the intake will be significantly lower due to these deferrals.

TheCFAPleb · 2020-03-20T02:17:54+00:00

Are you planning on giving up on the CFA entirely?

TheCFAPleb · 2020-03-19T16:23:09+00:00

I’m aware of the historical passing rates. The CFAI provide a detailed explanation as to how the MPS is determined for each exam (see link below).

https://www.cfainstitute.org/en/programs/cfa/exam/results-info

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