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Online Share Trading

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For Simon Brown - CFA

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Preston
Super Contributor
Simon, did you attempt or successfully complete your CFA exam? Did you find it difficult and does it create opportunities if you have the designation with the share trading enviroment?
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25 REPLIES 25
el_nino
Contributor
I qualified as a CA at the end of last year and have registered for CFA Part 1 in June 2013. Subject matter looks really interesting.
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Preston
Super Contributor
Thanks for that reply. Interesting to pass and get the designated title, or interesting in that it can add value to a common share trader?
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SimonPB
Valued Contributor
never tried, doesn't interest me nor would it be useful for me personally .. but certainly industry rates it as most fail, so must be tough ..
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Preston
Super Contributor
Thanks for the response.
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el_nino
Contributor
The reason why most fail is that you will find that worldwide there are numerous professions that attempt it. I see lots of engineers and IT technicians attempting it for some reason. It allows you to go into equity analysis and fund management... and that interests me...
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Rams
Super Contributor
for yourself or clients?
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Preston
Super Contributor
Chartist believe that Ram works for the call centre. Does this mean Ram will not be successful?
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BC02
Super Contributor
Ive tried the Level 1 (didnt pass though), its not too difficult, but you need a lot of time to go through it, time I didnt have when I wrote it.
What I can say is that it is very interesting, especially that field of financial analysis, how bonds work, how they calculate prices, etc but as a trader it wont help your trading though - in fact it will probably hinder your results more than help.
It only helps to get into the industry if your looking to get into that kinda job - financial analyst, research analyst or financial planner.
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Preston
Super Contributor
What is the pass mark?
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Rams
Super Contributor
20%, so still out of your league?
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BC02
Super Contributor
If I can remember correctly you need to be in the top 40%(?) - its been a while. I remember its not a matter of "if you get 50% you pass" it was you need to be in the top x% of the bell curve.

If your thinking of trading for others though you can simply just write the JSE exams, cheaper and easier, it seems a lot of people in the industry choose this option. The CFA lets you bypass most of the JSE exams and obviously comes with a higher prestige.
CFA Level 1 is not that difficult, it gets intricate with some of the calculations which I dont think Ill ever get right only using a calculator (I need my Excel sheets).
But if your looking to just understand the markets dont bother with either, you'll learn more about the market staring at the ocean (watching the waves) than you will from those books (Ed Seykota).
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Preston
Super Contributor
Excellent comeback. (Just kidding with you on the previous post)
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Rams
Super Contributor
I have no faith in so called qualified fund managers and the like...they mostly good at taking money away from their clients irrespective of performance. we all here , trading/investing because we dont trust other people...they just good salesman...rather do a marketing course or some thing in that line, get a string of people to sing your song....
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BC02
Super Contributor
agreed, I do feel its the profession where the pay is least matched to the services provided. Anybody just has to look at a place like AForbes to see that, how can a medium equity fund produce 2% CAGR over 10 years!!! (SA went through 2 bull runs in that time - you couldve used a dartboard and done better!)
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Rams
Super Contributor
people think that the market knows the who have degrees and such and will protect them only...usually results from inexperience
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Funnymoney
Frequent Contributor
I studied engineering.. As we speak, I don't feel I'll ever study further.. There are many opportunities out there that one can take advantage of without having to study. By no means am I saying studying is a negative thing, as it certainly has helped me. For now I'm getting out of corporate, going to work on the yachts and travel and then invest as much as possible along the way...
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Preston
Super Contributor
lol , do you need a call centre agent on your yachts?
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Rams
Super Contributor
Hey, Funnymoney, dont pick up any South african, near Australia...could be Striker!
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el_nino
Contributor
pass mark is usually between 60 and 70 percent....it is never disclosed to candidates
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