Good luck, but study without going exam also will gain you knowledge

Yeah, but exams is also part of the learning process and I love exams...its my adrenaline rush. He he he

Xuzen

Xuzen,

We have something in common. I too wanted to get into investment industry. Unlike you, I was an accounting/finance graduate. So I had an easier start in studying for CFA then you. I wrote my CFA I, II & III in 1994, 1995 & 1996. Unfortunately I didn't get thro my Level III and I did not attempt again. For a short period I work for a top investment research firm as stock analysts. And then came the Tom Yam flu of 1997. That kind of ended my brief foray into the investment industry.

I studied for my CFA exams the hard way - directly from the assigned text books. I know many actually study from study notes. After you have registered with AIMR, you will automatically receive a lot of solicitation letters from vendors of study notes (may be emails, nowadays). Since you're still young, you have plenty of time to attempt the CFA exams. Relatively few people pass their CFA exams without failing. So there is no shame is failing.

Being a stock analyst with a top research firm is probably one of the toughest job I have ever attempted. For starter, the hour is long - you are expected to be at the office by 7am. It's not uncommon for a new analyst to work till late especially during reporting season. Once you become more competent, it's possible that the work pressure may ease off. One of greatest pressure as an analyst is that you are expected to provide an answer on the spot during teleconference whether or not you know it. Some who truly enjoy this work will continue his career path to become Head of Research. Others may move on to became a Portfolio Manager.

As it is, I am not optimistic that any research house will hire you. You should at least pass CFA Level I before contemplating applying for a job as an analyst. Even then, the competition may be keen. Back in the 1996, there were only 23 CFA in Malaysia. I was the only one with CFA Level III in my firm. To day, there must be thousands of CFA in Malaysia. The analyst route to investment industry is a very tough one.

Alternatively, you may want to consider working through the mutual funds industry as investment advisor. You can take a CFP course. It's a lot easier. Or you may want to start off as remisier, at the same time taking CFA courses and work your way to become a Institutional Dealer with a brokerage firm.

Good luck.

Thanks. Like I said in my previous post, I will probably consider taking CFA Lvl 1 only, mainly to enhance my personal investment skill. I have no desire to obtain the charter nor work in an investment firm. I know my limit and that would be biting more than I can chew.

Yes, CFP is another course that I have my eye on. I will probably do the CFP and CFA Lvl 1 in the very near future.

I love finance, and I think this is the best strategy for me to enter into the world on finance from a non-finance background.

Xuzen

Hi there,

I notice that there are some CFA program veterans here so any of you guys' inputs is much appreciated. I completed my Level 1 and just sat for Level 2 recently.

May I know the relevant (working) experiences that are needed in preparing for the CFA Level 3 exam because I heard that experience may be needed to help write the essays. Would appreciate if anyone can share examples of their own of how that particular experience has helped in Level 3 and other related experiences. This question goes out to all Level 3 candidates and those that already completed/passed the exam. Hope you guys can lend a hand to us "juniors"!! Thanks!!

find out from my blog

http://todayfinancialworld.blogspot.com

how much preparation is normally required? speaking from ur experiences, how much time u guys took to study for the exams ?
thanks ya

Any CFA candidates who passed their Level ! exam can share their experiences here? is it super tough for Level 1? did you guys attended tuition class or self study?

what do u guys think: do we really need a finance degree in order to be involved in finance or banking fields?
perhaps MBA may be useful, but after all, what u take duirng degree doesnt matter that as much: at least there is someone who major chemistry but become the coporate learder after years of EXPERIENCE!

---

Added on August 21, 2009, 11:08 amalso, do u mind to tell me more on this CFA and CFP programmes? where can i look for it？ and is it a neccesity for all people who wish to invest but not direct working in finance companies?

This post has been edited by OMG!: Aug 21 2009, 11:08 AM

CFA = Solely on Investment Analyst . You will be a maestro in evaluating investment vehicle and provide advices to HNWI or Corporate Investors.

CFP = Solely on Financial Planning. You will be a maestro in drawing financial plan for individuals. I think there may be some small overlap in some modules especially the investment part with CFA. CFP will study M'sian Tax, Insurance & Risk Management, Investment & Portfolio Management, Estate Planning, Will Writing, Trust and Retirement Planning.

Xuzen

i am taking lvl 1 this december, now study book 3 of kaplan schweser, Study start from Aug21 until now, everyday study average of 2 hours.

if you wish to start financial analyst job in investment bank , CFA would be a good stepping stone for you.

This post has been edited by chin20350: Sep 17 2009, 03:57 PM

Guys,

UNLESS you want to be an investment analyst, Portfolio Manager or work in the Treasury or Money market, please do not waste your time on getting a CFA. Xuzen, if you thought about getting CFA level 1 to help your investment skill, forget it because it won't help much at all.

Why?

Can you please elaborate.

TQ.

Xuzen

Level I covers a large area of topics and many topics have to do with economics, statistics, accounting etc but not very detailed in anyone of them. You have to learn many things but not all will be useful even for analyst and fund managers depending on what exactly is the nature of your job. For example, you might need to calculate variance or Value At Risk which are used in portfolio reporting. You will cover some stock analysis but not enough to be a pro, and if you are not really good at what you do in securities industry, you might as well know nothing because a little knowledge is harmful, not helpful.

It is OK to take the course if you just want to learn more BUT I must warn you, for a person that has no accounting background, you will find it very hard to cope. Why do you want to spend so much time on something that is not going to advance your career or investment skills?

I know that in the CFP program there is a module solely on Investment Planning. Maybe that is a easier way to get "educated on investment".

To me CFA is just more "branded". So as a lay-consumer I am attracted to good brands.

Xuzen

hey guys,

Besides CFA/CFP, have u guys heard of PCAS and PCET? these are the certificates offered by NextVIEW. Just wondering which is more recognized in Malaysia?

If you want to get educated on investment in an in-depth level, I highly recommend that you get a copy of "The Intelligent Investor" and "Security Analysis". There are considered as the 'stock market bible'. They teaches you Fundamental Analysis.

Hi Xuzen, i think we have some similarity here.

I am not coming from financial nor economics background yet I'd quite interested in this field. I ever took CCP exam (Certified Credit Professional) from IBBM, just to broaden my knowledge in economics and financial field. However, no matter how much I study the papers, magazine and even taken up this course, it seems like I just understand the surface of it and don't really understand it entirely.

I'm quite eager to learn and to know more about it so recently I'm trying to pursue a master course in economics subject. Besides to fulfill my desire to learn, I'd also have to pursue a master program, too.

Have anyone thinking of accounting qualification anyway? Because one side preparing account (accountants), the other side analyze that account (CFA), knowing tricks on one side and you already half way on the other side liao And the accounting papers did their part in analysis also (you cannot know nothing when you know someone is going to read and analyze your work), just my 2 cents

Both train people to be Kaisu and kaisi.

In the end , after finishing the course, you think only Public Bank is the stock is qualified to buy.

Of course, if you are under employment, you may need to say lot of things beyond your conscious.

By the way, i do not have any CFA. so I can just simply buy.