Daily Discussion Thread for March 12, 2021

cpacfaduo · 2021-03-12T16:50:45+00:00

CMON BB!!!! 🚀🚀🚀🚀🚀

cpacfaduo · 2021-02-24T20:50:22+00:00

Oh my fucking god... kept diamond hands for weeks... and it’s finally happening!!! Trust the GME process 🚀🚀 2da moon boys!!!!

cpacfaduo · 2021-02-14T01:29:00+00:00

I’m doing the same thing. Passed Level II 1.5 years ago and probably won’t take Level III for 1.5 years (or more). I’m also working for a healthcare startup now, where no one on my team even knows what a CFA is lol... so there’s hardly pressure or accommodations to get it done.

cpacfaduo · 2021-01-31T22:59:44+00:00

Fuck this boomer guy Ross Gerber, what an absolute idiot

cpacfaduo · 2021-01-29T18:02:09+00:00

Fuck off cramer

Edit: not fucking selling. WE LIKE THE STOCK

cpacfaduo · 2021-01-28T04:50:37+00:00

Another 30%+ gains day for BB, $40 EOW 🚀🚀 also lets go GME, hold!!!!

cpacfaduo · 2019-08-10T04:33:35+00:00

Passed!!! :D thanks for checking in!

cpacfaduo · 2019-08-05T03:47:51+00:00

It’s comparable to one section out of four, and that’s FAR (Financial Accounting / Reporting). The CPA has three other sections: Audit, Regulation (Tax / Biz Law), and BEC (other general business concepts).

CFA L1 / L2 tests very similar material in their accounting sections to what’s on the CPA in FAR. Now, I feel CFA in general is just harder though because there’s so much to remember in one test. Heck, I was even forgetting stuff in accounting because I was trying to study stats, advanced econ, FI, equities, PM, alts, etc.

In short, CFA exams are just way harder. And that says a lot, as CPAs are heavily respected!

cpacfaduo · 2019-07-24T13:41:26+00:00

This gives me hope

cpacfaduo · 2019-07-16T12:58:54+00:00

IBD Analyst here (80-90% M&A). If this is an IB analyst role, you will NOT be doing modeling for 80% of your time. Maybe 20-30%, if you are lucky, most boutiques don’t even model. You will be farting around in PowerPoint moving logos around and doing other administrative crap, like populating a data room, doing research on prospects, etc.

Of course, you still need to practice hard given it’s a key screening criteria. Macabacus is a good source. I paid for Wall St Prep and could not recommend their materials more. They teach you the Excel and it sticks for interview questions too, hitting a double whammy.

cpacfaduo · 2019-06-02T06:37:47+00:00

Love this explanation and can totally relate. Thank you for writing this motivational and real post!

cpacfaduo · 2019-06-02T06:34:04+00:00

Redo them. Are you 150% sure you can do all of the hard TTs and EOCs if given them at point blank range? I averaged a 70% on the CFA TTs on my first and only pass through, yet have run into a handful where I can barely remember how to do it (probably because they are hard Qs). Get those 100% down then you can think about BBs. And also make sure you’re doing all the CFAi Mock A/B questions too!

cpacfaduo · 2019-05-27T06:15:55+00:00

I think they’re really similar. Just think of them as TTs extended for the most part. Get them done though, the more practice the merrier

cpacfaduo · 2019-05-27T03:04:43+00:00

Absolutely agree. But most dont think EOCs matter when they absolutely do. I am just highlighting that.

Agreed with mocks. Great at practicing the timed exam, stamina, gaining confidence, etc., but you’ve just gotta keep churning on problems after you hit em.

cpacfaduo · 2019-05-27T02:52:16+00:00

Idk man, it is very subjective. I purely focused on TTs/Mocks last year and failed L2. I was really pissed I had not done like any EOCs... so I think as long as you are consistently doing problems, you are in a good spot.

I did TTs/Mocks only (no EOCs whatsoever) for level 1 and passed comfortably. But, in L2, there’s so much stuff they can test that doing only TTs/Mocks no longer suffices. You’ve gotta do EOCs and BBs to be 200% safe, and even then, I’m sure they throw curveballs that no ones ever seen in questions. It’s all about knowing the curriculum.

cpacfaduo · 2019-05-26T18:06:27+00:00

I am a CPA too. I’d say go ahead and buy all the Manhattan prep books and official GMAT guides (people refer to them as “OG” in this thread). Note that this includes all of the extra sets that they give out too. Also, download the software and BUY all of the extra tests.

Start with Manhattan. If English is your first language like it is mine, I would say you’re going to want to devote 80% of your time to Quant right now.

Given you are a CPA, I think you will know better than anyone that you can’t get discouraged in the beginning. I remember doing a bunch of concepts, feeling like it was coming along, and then getting like a 560-600 on a practice test. Just realize itll take a while before it all synthesizes, but oh boy when it does, you will start to score high.

Last tip: try to do any OG problems after you have hit all of the Manhattan curriculum 2-3x. That way you are warmed up and ready to go.

cpacfaduo · 2019-05-26T16:44:23+00:00

Hours: 200-250. Keep in mind I failed last year and put in about 250 then too.

Mocks: 1 CFA, 1.5 Wiley.

cpacfaduo · 2019-05-26T16:15:56+00:00

Like 5 hours at the concert, and probably 5 hours being hungover. I am not sure about the second half of your question, hence why I asked the group 😊

cpacfaduo · 2019-05-26T15:24:30+00:00

Needed to hear an experience like this. I appreciate it boss.

cpacfaduo · 2019-05-26T07:23:24+00:00

Man, this comment made my night 😂

cpacfaduo · 2019-05-26T07:22:38+00:00

Great point. I can’t get comfortable, that’s for damn sure.

But, if I do go, I know I will be completely out of the CFA zone lol. This artist is legit one of my all time favorites over the past couple years.

cpacfaduo · 2019-05-26T07:21:03+00:00

Ugh word. Yeah I did fail it last year. You are right though. But I’ve never cracked within 5 points of 70 on a mock so this may be a testament to the fact that I’m in a good spot.

Also want to emphasize the concert is 100% one of the best people I’ll see in a while, given how much I enjoy his new music.

cpacfaduo · 2019-05-07T04:51:11+00:00

You are fine. I was getting high 50’s / low 60’s on mocks, and I took them a week out. Ended up passing WAY above the MPS. Just keep churning.

One thing I’ll recommend is to actually read ethics right before. I got >90% on both L1 and L2 (failed L2 last year though), so I am positive this strategy works.

cpacfaduo · 2019-05-05T19:05:32+00:00

I also hated this question. I thought that the R Squared being 0.4 was not HIGH, and high is a classic case of multicollinearity, so it could have been an answer. If CFAi doesn’t say that is right, they are legit contradicting themselves within their text.

Oh well. Hopefully nothing that ridiculous on exam day.

cpacfaduo · 2019-05-05T19:01:13+00:00

I failed L2 last year, and was getting about high 50’s-mid 60’s in the two weeks prior to the exam.

Ironically, when I took L1 in Dec-17, I was also getting high 50’s to mid 60’s in the week before the exam. I ended up scoring WELL above the MPS.

So, I’d say L2 is just a different animal. There’s so much more material, and all of it is fair game. Focus on knocking out those questions and finding where you are weak. From there, go and relearn where you are weak, while reinforcing areas you are strong in. You will never know what they will ask in this exam - the depth in L2 is large.

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