CFA Cirriculum v. Schweser Notes v. Secret Sauce

I just thought this was an interesting way to view the fundamental difference between these three resources, content.  A lot can be said about content and its usefulness, which is why I think that it is prudent to start with the CFA then go through the schweser and follow up with the secret sauce.  The content keeps getting more narrow and more specific and really drills down. Below is an example of the ethics (ss1) sections of the course:

1. CFA Curriculum: 166 Pages
2. Schweser Notes: 63 Pages
3. Secret Sauce: 6 Pages

Studying Starts Tommorow…..

Tomorrow starts my CFA mass studying.  Only about 3.5 months behind the regulars…..which is both motivating and slightly depressing.  However, I chose in January to take the CSC and CPH before the CFA and so far I don’t regret it.  Ask me in a couple days and I will likely have a different answer for you.  None-the-less its time to buckle down, log-in some insane hours, hope there is enough red bull to sustain me the next 2 months.  I have developed a system in excel that tracks my progress within each reading, including the pages read and the time spent.  Its extremely practical and requires very little attention.  I like to see progress, and what i have left to do so I think it will be a valuable addition to my efficiency and effectiveness.

Tomorrow the plan is to start on the first page of the first book.  My calendar says reading 1 and 2, but that is a guideline.  I will likely try to hammer out all of ethics, or at least a large majority of it.  Right now I am not sure what kind of pace I will be proceeding through the material, and that will affect any initial revisions I complete at the end of next week.  I also have a study group on Sundays which is just starting up, which I have chosen to not participate in. I can’t assume the meetings will be more effective then personal study time, as the CFA-L1 is said to be almost entirely conceptual.  Working in teams has to many complexities in setting up and administration that I don’t have the luxury to waste.  Furthermore the travel time is only justified if I can justify the end result, which I can’t in this case.  I can justify the 3 times a week I travel to the gym to train for some upcoming marathons.

My plan for this blog (hopefully) is to complete a post per day on all of the items I have covered.  If I cover three readings, I will make one post with all those reading.  Unlike the CSC and CPH I wont be making an individual post for every reading as that would detract from my studies to much.  I think a post per day in relation to the material I have covered is adequate.  I will try to upload other content as it becomes relevant in the course of my studying.  From here I am going to upload some links to the site, and play with the lay out a bit and then head over to analyst-forums for a quickie.  I have a bunch of odds and ends to wrap up today as well, so hopefully the red bull lasts long enough to keep the blood flowing.

- Steve

Only 35% Pass Rate?

Wow, I knew the number was low, but that is surprising. Figures like that actually encourage me more.  One of the reasons I decided to pursue CFA is because its not easy.  If the program was easy, then everyone who wanted one could have one if they had the money.  In this case, very few people obtain the CFA relative to the amount that enrolled 5 years prior.  This is a big plus for anyone wishing to set themselves apart from the crowd.  Staring down CFA Level 1 is one thing, but starring down level 3 is a completely different story.  I can’t imagine the persistence, dedication, patients and overall skill needed to make it that far.  Surely its possible, but the process sure looks difficult.  I am glad, however, that such a process exists to discourage an easy route.

- Steve