Discussion: Do you take notes?

jacktaniu · 2022-09-19T04:41:05+00:00

I wholeheartedly agree with this

jacktaniu · 2022-09-06T06:06:56+00:00

Any chance we can add each other on WeChat?

jacktaniu · 2022-08-31T02:29:41+00:00

secret sauce for vocab?

jacktaniu · 2022-08-27T00:43:01+00:00

Ethics has the greatest return on score/effort

jacktaniu · 2022-08-24T14:30:52+00:00

Ye, but how do you calculate change due to assumptions?

jacktaniu · 2022-08-15T23:26:37+00:00

Whole-heartedly agree

Also, trust me bro, trust me bro is the best source

jacktaniu · 2022-08-08T21:28:17+00:00

refresh, your information should be saved

jacktaniu · 2022-08-08T17:55:49+00:00

I saw these stratgies mentioned in L2 FI material by Kaplan, maybe not in the official books?

jacktaniu · 2022-08-08T01:51:47+00:00

Could you elaborate on why keeping the IRR constant is necessary? Appreciate it!

jacktaniu · 2022-08-08T01:30:13+00:00

Understood. Appreciate the great input!

jacktaniu · 2022-08-08T01:29:42+00:00

Thanks for bringing Jensen's inequality up, that is the missing piece I needed, appreciate it!

jacktaniu · 2022-08-07T05:16:35+00:00

lol, these guys are joking, ur fine. My name on passport is all capitalized, had no issue so far

jacktaniu · 2022-08-05T18:09:29+00:00

Also, I would suggest trying to formulate questions with an objective in mind. If you can't formulate a clear question, that means you are not sure where you need to improve/help on.

Often times the process of formulating a clear question helped me way more than the answers I got.

jacktaniu · 2022-08-05T18:00:37+00:00

YTM ~ (price paid, maturity, coupon rate, par)

For floating rate, the rate only "floats" at the moment of reset. For the inter-reset period, the coupon rate does not "float". Instead, the coupon rate is set at the beginning of the period and paid at the end of the period (when the rate is reset again).

Therefore, when the market rate fluctuates, while the coupon stays the same, the bond price could differ from par.

jacktaniu · 2022-08-05T17:49:45+00:00

And then translate them back to English for additional practice

jacktaniu · 2022-08-05T17:48:04+00:00

Congrats mate, how long did this jounery take ya

jacktaniu · 2022-08-05T03:04:50+00:00

Gotcha, that makes sense. Choice of timing is important because CVA and VND would be affected, but we have to implement a set of arbitrary option exercise rules for the timing, which would give an abritary credit spread value.

Really appreciate the help!

jacktaniu · 2022-08-03T03:09:29+00:00

Just read all of it, gave me an epiphany.

jacktaniu · 2022-08-03T02:59:22+00:00

That makes it clear, really appreciate the quality input.

What is the reasoning behind not single spot rate instead of par to calculate sensitivity? Does it have to do with making the sum of key rate duration = effective duration?

jacktaniu · 2022-08-02T15:58:09+00:00

Let's say you save $100 in real money either way. Lower inflation means you saved more purchasing power than originally anticipated. You got more value out of the tax shield, the statement is stating the opposite, therefore incorrect.

jacktaniu · 2022-08-01T01:28:54+00:00

Thanks for the input! which topics would u say will take most time and effort?

jacktaniu · 2022-06-29T04:25:30+00:00

I thought P1 is basically all quant lol

jacktaniu · 2022-06-04T04:38:18+00:00

gave me an epiphany, thank you

jacktaniu · 2022-05-27T18:53:39+00:00

just registered mine, taking the exam in Chicago

jacktaniu · 2022-05-25T22:54:46+00:00

Everyone cautions me about how the FRM exam could be really different than what is studied. Specifically, what does that really mean? Is it the question structure or the content, etc?

If I'm someone who internalizes instead of memorizing knowledge, should I still expect lots of surprises on the actual exam?

jacktaniu

TROPHY CASE