02/29/2015 – Path to CFA: Level 1, PART 2

One might guess by the lack of posts that I’ve been hard at work studying for my CFA, for the most part, that is true. Being bogged down in administrative responsibilities isn’t fun, but definitely part of an adulthood that I’m becoming more comfortable with everyday (for example, cleaning up after the cat).

So far I’m a little behind schedule, I’m supposed to have finished Accounting, Economics, and Equity sections, with Corporate Finance/Portfolio Management deadline coming up soon. The accounting section took longer than expected due to extra time spent on understanding taxes and its many connections to other financial statements. I can see why people don’t like studying taxes, but it’s a necessary component of our financial system that keeps it alive; they just need to make learning it a bit more sexy.

I’m almost done with Economics, and luckily most of the materials are quite intuitive and relatively easy to understand. Its “hardcore” mathematics section is relatively straightforward, the difficult part is sifting out the irrelevant portions of economic mathematics (which there is a lot of).

One thing that struck me as a CFA characteristic is its sheer volume of information. The material isn’t difficult, but takes great discipline to go through this much material within a short time frame. This is more of a test of personality than intellect (at least, for Level 1). It reminds me of the premise for the movie Limitless (2011) featuring Bradley Cooper, where the main character (Cooper) became a genius through the use of drugs but underwent a painful recovery after forgoing sleep and food regularly (side effect of the drug). Now if I could only get my hands on some of that stuff 😉

I intend to complete the Economics module by the end of this week. Then move on to the rest of the course, where it would be covered in a faster pace since the bulwark of the course material would be behind me.

Currently experiencing on and off recovery from a minor cold, but expecting some alleviations from the warm Canadian weather this week.