Hi investors...

I have heard of CFA programe. I am curious.

Is this a very tough course?

I have no background in Finance nor Accounting, I am a science subject graduate (Chemistry). But I have a strong mathematics foundation (scored A during STPM). I am currently not even working in a Finance related position. But I am thinking of broadening my career option.

What else can a CFA holder work in other than as a analyst or in a Investment Fund House? Can a CFA holder be a CFO/Financial Controller of a corporate company?

Thanks.

Xuzen

P/S:
Dear Moderator,

I put this question in this forum rather than the education because I feel that there are more finance-literate forumers here and the target audience is more appropriate, thx.

career changing would be a pain and you need to do it fast
otherwise u would suffer deep pay cut and long hours job

would suggest you to take a master majoring in finance instead

http://todayfinancialworld.blogspot.com

CFO/ Financial Controller unlikely.

I have an engineer friend with engineering degree doing that as well, first level passed, second level waiting for result.

This post has been edited by htt: Jun 18 2009, 09:49 PM

What is your engineer friend currently doing and what is his rationale for doing this course?



I have thought about it and I read it somewhere that CFA is of par level with Master in Finance but at a must lower cost.

Xuzen

Engineer... He want to switch job.

CFA + engineering = financial engineering ....

possible job are analyst, fund manager, financial strategist....!

or personal own good.... good financial education...

CFA Levels I & II are the toughest. To do CFA without accounting background is very difficult. Even those accounting graduates fail. For your purpose, I would suggest doing an MBA. It's a lot easier. I have done CFA courses before.

This post has been edited by omione: Jun 20 2009, 01:38 PM

i dont think so. CFA is about how much hours you put in.

i was a software engineer and i am a Level 3 candidate waiting for my level 3 result.

Level 1 is easy. level 2 and 3 are tougher.

As i mentioend b4 in my previous post, if you are prepared to start as fresh with substantial pay cut (career switch), you can consider do it. furthermore, i dont think passing level 1 carries any value for you to chg job. otherwise, better do mba.

there are factors you need to consider.

http://iwantprettygirls.blogspot.com

Hi, anyone know what is the requirement to take CFA?
minimum years to complete?
Process?

Thanks.

It is strange to know that one need to take a pay-cut (disadvantage) to study this course. I always assume, continuing education is to increase one's worth to a corporation/business. If what you say is true, then doing this extra work (study for CFA) and get a pay cut is quite illogical.

I am trying to avoid MBA because I think MBA nowadays are like Malaysia Datuks... simply throw a stone and you will easily hit one in the street. There are just too many of them and I postulate in very near future, the supply of MBA holders will be more than the demand for their service.

Xuzen

This post has been edited by xuzen: Jun 20 2009, 01:26 PM

MBA can assist in ant career (as manager), but CFA normally need to switch line (after some years, you probably have some increment, salary should be higher than fresh CFA).

Xuzen, CFA is a very specialized program for investment industry.

What can an engineer apply this knowledge in his working place ? Become a CFO ?


A little knowledge is dangerous, so if anyone is really interested, should find out more not just ASSUMING.

Avoid MBA, i guess you dont understand the real value of MBA.
MBA is about networking, if you only care about the Certification ... sorry bro .... forget about whatever certs you plan to do ... that is truly wasting time and money.

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Added on June 21, 2009, 3:33 pmyou get pay cut if you switch line unless you skills are portable. This is very logical.

This post has been edited by alfredfx: Jun 21 2009, 03:33 PM

http://todayfinancialworld.blogspot.com/20...fa-program.html

more detail information about CFA program

From Alfredfx's input, the next logical thing to do is to determine what career path you want to pursue? If you can answer this question, then perhaps, it'll be easier to identify the educational training you require. By the way, how old are you and what are you currently doing?

omione, you yourself ?

I am well past career option.

I am in my mid-30's.

I am a graduate in Chemistry. Currently I am running my family owned sundry shop (General Manager). I have been doing this job for almost 10 years already. You can say I am a bit bored with this job.

Of all the business aspect, I love the finance side the most. I also trade in shares as a side business/income and that is why I get to know about CFA & wishes to find out more about it. I don't mind going back to school again, at least to break the monotony.

Now you all have a clearer picture of my position.



I am sorry you think of it this way. If networking is what one truly wishes, then by all means join a political party and rub shoulder with the leaders and get lucrative contracts, or maybe join a top notch golf clubs and rub shoulder with some tycoons to seal business deals. I find your idea of education is so warped. But then each is entitled to one's opinion, whatever float your boat. I just don't share your opinion.

Xuzen

I think you might suffer a bit because you don't have financial background, for those accountant, turn CFA is just switching end from preparing account to analyze account (kind of). CFA do need to have some basic accounting skill. But for your case, if you are going to continue your business, CFA level 1 should be a plus for your investment skill. Level 2 & 3 require some extensive study which you might want to re-consider after your level 1.

But personal opinion, the more you know, the more you don't know; the more you don't know, the more you scare; the more you scare, the more you not dare; the more you not dare, the more you loss
Analysis end up knowing too much to feel scare of every counter around every corner

Xuzen,

it is ok not to agree with my opinion because it only reflect my belief. It is about the path you choose.

The different degree in networking. Of course, the course itself also add value to let you perform your job in different perspective.

But think about networking in political party and in your MBA class.

the first thing i would ask you, are you willing to do your MBA with CEO / Management ; or with fresh graduate / executives ?
Take out the networking effect because if you are good, the chances they invite you to their company is very much higher.

so it really depends on the purpose you are trying to get from it.

If you have no background at all in CFA and you are not in the industry, you would consider to attend classes, because you will have the chance to network with the people from the industry who are sponsored for the courses.

To join a political party for networking, workable, but the scenario is different.

Yeah, thanks for helping me put things into perspective. I do not wish at this time to completely abandon my current job, I am responsible to keep my family business going... you know the typical eldest son, family responsibility bla bla bla thingy.

I might just enroll into level 1 for a preview, I am not that keen to be a Chartered Holder, my main purpose is to obtain some formal education/training to help me be a better investor. Taking Level 1 only seem like a good idea.

Xuzen

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!

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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.

Haha... sometime that's true also...
The more you know -> the more you don't know;
the more you don't know -> the more you scare;
the more you scare -> the more you not dare;
the more you not dare -> the more you lose out

The trainings provide you with better bottom line (cover backside by kiasi & kiasu), but no better up line

That's true.
Sometimes loving something doesn't have to go deep into it. Just know the surface may have tremendous fun, too.

But I don't agree that pursue knowledge is a form of "kiasu" or "kiasi". Unlike those teenage and fresh grads after secondary school, it actually takes up courage to pursue another course when you're already an adult with responsibilities and reliabilities.

This post has been edited by debbieyss: Nov 16 2009, 10:06 AM

Kaisi or Kaisu in the sense you feel that there is no stock worth to buy at Bursa. None will meet your " selection " of stocks

HTT should know what am I talking.

" The more you know the more you do not know "

This post has been edited by SKY 1809: Nov 16 2009, 10:15 AM

I get what you mean.

I'm taking the course not because I want to pick the right stocks and earn money. I just want to understand the economics better.

And I do agree the more you know, the more you actually don't know. But then again, if everyone having this theory in mind and think that courses are not worth to go for to enhance knowledge, then what's the initial purpose of study, right?

This post has been edited by debbieyss: Nov 16 2009, 10:47 AM

Okok... personal opinion...
I not regretted having such knowledge, because sometime it's kind of fun when you notice something going not so right in a company while others keep rushing in while you stay still, later the whole thing bust and proven you are right on your decision, also when you notice something is seriously undervalued while other dump that in panic, later proven you are right; I not trying to be mean, and often I erred in decision like that and missed opportunities (that's why sky means, he not trying to be mean either ).

Being better equipped with knowledge reduce damage that might happen to you, but that also limit the upside you are going to get, because if you stay rational while market going irrational, chances are you underperformed market. But you might be able to sleep better

Just my 2 cents.

I remember my Master in Investing ( lecturer ) used to say .

The harder you try to find a " Successful trading system" in Share Market, the more unhappiness you are.

After all your efforts, the worst thing finally after a long period of time , you discover there is NONE.

You could be more educated than Ahmad or Ah Beng, but in fact he is making more money than you.

I think both of us from the Confucius School of Thought.

We are the minority .

This post has been edited by SKY 1809: Nov 16 2009, 11:49 AM