CFA

Crafty-Difficulty244

I began trading in 2022, since then Iam down 80k. Iam not proud of it, but hopefully you see where you are going into. Iam a CFA lv3 candidate and working in asset management. Options trading is like playing guitar on a sidewalk hoping for your career in music to pick up.

bq909

I’m a bit removed from it and in a different career now but from my CFA charter I clearly remember mutual funds have a higher expense ratio than mutual funds. Mutual funds are also less liquid.

thatjusthappened24

Oh wow you’re buying shares if they go down 17%? Fucking hot take. Are you a CFA candidate too?

TheMightySoup

All that studying for his CFA, and this is the result. Yikes

boringreddituserid

You should post your contact information so people can avoid your CFA Charterholder services.

samuelj264

This guy broke his bag of coke, had to snort the entire 8 ball and decided to say stupid shit on Reddit. Also cherry picked 1999-2000 as an investment starting date. Sure SPX didn’t recoup the peak til 2008, then the GFC happened. Not sure how this person got a CFA with this ‘thesis’

Library_Throwaway999

My Boglehead uncle, who's a retired CFA, advised that I reallocate my Roth distributions into Vanguard index funds last week at ALL-TIME HIGH VALUATIONS. The market had been up-and-down throughout March and a correction seemed imminent. I asked him if I should let the money sit in a Roth money market account until things dropped a few points and he went in with the usual "you can't time the market!". I bought a bunch of overvalued index funds at all-time highs and I am SALTY. He and I both belong behind the dumpster at Wendy's. Keep dry powder and don't listen to your uncles.

fundamentalsoffinanc

Hey, CFA charterholder and investment professional here... this is a lot to explain via text. Is it ok if I send you a voice note with some thoughts?

fundamentalsoffinanc

Hi, I'm a CFA charterholder and investment professional that works with high net worth and institutional clients (like as in billions of dollars invested with my company). Fundamentals of Finance is my YouTube channel I started with a friend to help people learn how to invest. This is a great question you've asked here. So, obviously with any large group of people they're not all exactly the same. But, the vast majority of HNW (high net worth) people have advisors and the vast majority of their advisors would tell them to do nothing. Smart investors invest based on their objectives, and do not let the market dictate what they will do. They don't follow others into hot trends and they don't panic sell. Before there's a downturn they should be positioned in such a way that they will not lose more than they can stomach if a downturn comes. Then when one does, they can afford to wait it out (and will have the peace of mind to do so). You don't have to be HNW to do this. It has nothing to do with how much money you have and everything to do with your mindset and how well you've set up your account before the downturn comes. I can help you with the thought process on how to put this in place if you're curious to learn more.

EazeeP

Lmao true TradFi CFA bro, 5% risk free So jUiCy

aminbae

what's their qualifications? CFA? CFP? CPA? what's their degree in? in all honesty I feel that 1% is a laziness tax

NIWHAC

VBI- it’s on the CFA exam.

EazeeP

You perfectly embody $CFA TradFi bro

araararagl-san

then why did France bomb Libya while propping up other African dictators who supported France's CFA franc currency?

Shapen361

I'm new to options, clearly. I read the CFA L2 topic and I'm like "OK I clearly know what I'm doing." Not at all.

WindHero

Offer is for debt + equity. There's $16 billion of debt. So the offer for the equity is $11 billion, vs $8 billion market cap. Probably some other details to consider. The main point is OP's analysis is garbage, he's probably a CFA or something.

wyhauyeung1

Jesus christ so none of u regards studied CFA or finance? These are basic stuffs

Informal_Tea_6692

wow! I didn't knew about that. Thank you very much! Are you a CFA charterholder?

AKdemy

If you don't want leverage and just a long position, simply buy the stock. You also have leverage with options, so not sure what the point is? Futures are so much simpler compared to options. That's why textbooks like Hull or courses like the CFA always start with futures before introducing options.

King-Midas-Hand-Job

Literally never, degree mill certification. Anything you think you need a CFP for, use a CFA

Many_Easy

Whether one agrees with Pablo Zuanic or not, I give him credit for the following: -Harvard MBA -Wall Street experience -European background, more likely to understand Germany & International -Experience - he’s older and this is not his first rodeo -CFA -**His analyses are thorough, thought out and professional.** He doesn’t rush out his analyses like other CFA’s seem to do in the cannabis space.

hydrocyanide

Dude none of this is true. Source: I have a Certificate in Investment Performance Measurement issued by CFA Institute.

Many_Easy

Yes. But what is his overall batting average? Honestly, he seems to be more of a stock promoter than a traditional CFA/analyst. I remember Henry Blodgett in the 1990’s getting too much attention with internet stocks. See also Mary Meeker, Nouriel Roubini, David Stockman, et. al.

randyranderson-

Where did I say that I knew better than financial analysts? I was just trying to discuss a thought, and now you’re gatekeeping it by telling me to get a CFA. I want to learn, not get told to shut up and blindly follow analysts. I work in IT and have worked for prop trading firms in the past so I m ow these companies and people you’re talking about. I’ve spent time on floor in the CME and CBOE and talked to the traders. I’m no expert but I’m certainly aware of what resources there are in industry. You’re making a lot of assumptions that I don’t know how the financial industry works.

According_Owl7944

If you think you are going to beat the market and this is your level of financial knowledge, you are just gambling and lying to yourself about it. Go get a CFA and then you can begin to think about making a better guess about the markets than just closing your eyes and picking something at random. Thousands or tens of thousands of brilliant people are betting against you, and they have supercomputers helping them.

PanicBuybeforeDump

It's amazing that a CFA would publish an article, so riddled with errors. I found it interesting that he pointed to projected 2025 EBITDA as a reason for Trulieve being overpriced. Yet the projection only increases adjusted EBITDA $20 million from the 2023 results. Projecting a 2.8% increase for the year of 2024 and 4.2% increase for the year 2025. If Florida Rec passes, adult use should begin in May 2025, leaving 8 months of the year left.

Many_Easy

I don’t know. Just because he’s been covering industry for so long and is a CFA doesn’t mean he’s the best analyst. Personally, I like to see more independence and separation of analysts from social media and private ownership. Super knowledgeable, but he comes across as self-serving, pay for play, and media hungry. Or maybe I’m so biased Tilray Brands and pissed that he came across as such a hater. Regardless, last week was a win for us and a loss for Alan Brochstein, CFA.

Many_Easy

CFA, but not leading CFA analyst.

Blistorious

The leading cannabis CFA is on twitter rage again for anyone who wants a good laugh. Btw now he has a strong Trul sell recommodation haha.

Sober_Snoop85

How dare you leave out the CFA designation from his name 

Sober_Snoop85

How are you leave out the CFA title from his name 

jfk_sfa

>I am not a math or valuation wizard but I know they use discounted value of future earnings or future cash flows or something. And they forward a few years to calculate that. Valuation professional here (CFA, MBA, business valuation for 18 years...). You would do a DCF of free cash flow to equity, not a DCF of the market cap divided by the active users. So, what's the annual FCF of reddit? Well, it was negative $100 million in 2022 and negative $84 million in 2023. https://www.sec.gov/Archives/edgar/data/1713445/000162828024006294/reddits-1q423.htm

thelastsubject123

look on youtube! look for a CFA/CPA as they're the most qualified to clarify, you need to understand balance sheet, income statement, and statement of cash flows you should be able to grab a random stock (let's take NVDA) and read through its 10k and everything on there. whatever is foreign to you simply look up on youtube. i promise you there's an in depth video on it. every object on the 10-k is important, even if it seems insignificant if you can't read a 10-k, you're buying a company on blind faith

TheNotoriousNIL

Bought CFA 2025 books taking it February next year, wish me luck boys

bombsfalldown

You don't need to be a CFP, CFA, or a licensed investment professional to realize that universal life insurance is a poor investment vehicle. What is VOO up in comparison compared to three years ago?

azrolexguy

Are you a CFP, CFA, a licensed investment professional or even employed at Burger King?? Who are you to define crappy?

uns0licited_advice

This reads like a CFA ethics question on the exam. Yes, this is material non-public information and yes it is illegal to trade on it.

LittlePlacerMine

Over the course of 1998, LTCM lost $4.8 billion, which breaks down as follows (Yalincak, Li, and Tong 2005): $1.6 billion in swaps $1.3 billion in equity and volatility $430 million in Russia and other emerging markets $371 million in directional trades in developed countries $286 million in equity pairs $215 million in yield curve arbitrage $203 million in S&P 500 stocks $100 million in junk bonds So the answer to their failure is more complex than ‘BSM could not be used for the types of trades that broke their neck’. It’s more like they hanged themselves by believing their models were correct when in fact they underestimated risk or the fat tail or black swan. But ~40% of their loss was attributable to equity exposure while 60% was off their interest rate and currency swaps. They might have survived the equity meltdown losing only 70% of their capital but I would hardly call that an endorsement for BSM. Quants might take this as an oversimplification but the fact that real markets don’t have a limited set of probabilities. For their interest rate and currency bets they would not have used BSM, but a set of differential equations that smelled similar in order to calculate their VaR. From Ron Rimkus CFA Institute: (By the way they have a number of good papers analyzing various market failures) “LTCM used a combination of Value at Risk (VaR), stress testing, and scenario analysis to manage risk……VaR is a statistical technique to estimate the amount of losses a portfolio might incur over a given day or week (or longer) based on historical price movements. There are many nuanced ways to implement VaR, but they all essentially involve computations of historical volatility, estimates of future volatility, a time horizon, a chosen probability distribution (e.g., normal distribution, Student’s t, chi-square), correlations, and a confidence interval (95%, 99%, etc.). The particular approach to VaR that LTCM used was based on daily standard deviation of security prices and correlations among all securities owned across the entire company over the preceding 500 trading days (estimated) assessed at the 95% confidence interval” “VaR, by virtue of using a probability distribution, treats the markets as a closed system, like a lottery drawing. A typical lottery drawing that chooses 1 of 60 or so balls in a bin is an example of a random, closed system. There are always a certain number of balls to choose from, and the chosen ball is determined through a randomized process. Therefore, the probability of selecting a single ball is exactly the same each time: namely 1 in 60.”

mglman

all right - let me put my CFA, actuarial, and insurance industry hats on: Whole Life, Permanent Life, Universal Life products only apply to a niche subset of individuals and households - usually UHNW worried about estate planning. For most folks, simple insurance products for risk transfer uses are enough - no need to add complex investment vehicles on top Regarding the EY study that they seem to republish every so often - let's look at some of the assumptions: * 1.25% asset and advisory fees on investments is outrageous. Some 401k plan products my have such high fees but most simple index funds and bond portfolios have a fraction of that * 25% annual equity turnover means they sell all their equities every 4 years realizing capital gains taxes. 10% or even 5% is closer to reality * Life Expectancy of 95 years for all case studies. come on - this is done to show whole life in a better light as WL policies returns get better with longer horizons. Most purchasers or whole life do early surrender though * The insurance mix scenarios only replace fixed income investment allocations. No wonder the return is higher when you replace the lower returning asset class only. For most individuals and households, maxing out tax-advantaged accounts + some taxable brokerages + term life policies will get them ahead of whole life added portfolios

Many_Easy

Why waste your time with TA? Look at any CFA syllabus and they only devote a few pages to it.

Perineum_Falcon_69

I used Kaplan Schweser for all 3 levels. CFA Institute also provides materials but you don’t need theirs if you’re using Kaplan

Ok-Arm-9205

What do you use to study for the CFA exam?

Perineum_Falcon_69

The CFA exams teach this, specifically levels 2 and 3

ULTIMATENUTZ

Hi I’m a CFA I think I can help you out. In short yeah liquidity needs typically refer to expected outflows from the account in the 1-3 year horizon. Questions regarding risk, return, tax, time horizon and liquidity needs as well as any unique investment constraints are the basics they have to collect to form your suitability profile. This is essentially what guides the type of investment the broker is permitted to solicit. If you say a large percentage is expected to be needed from the account within the next 24 months for instance, then they won’t suggest funds that have sales loads that don’t go away for say 5 years or whatever. To be honest you don’t need to stress to much about some of that you are free to revise it an ANY time and they are required to review it with you at least annually. The one thing to watch out for - managed accounts. Make sure you understand the asset fees and terms that go along with them.

Mythiic719

I’m a CFA too certified financial amateur

ULTIMATENUTZ

Not quite following. What do you mean? I’m a CFA so I’m just curious

3boobsarenice

At least he is not a CFA, and hiding. Own your stink.

Ancient-Morning-1769

I've done more thinking, and I have a couple of guesses. Again, these aren't jabs, they're just thoughts. * You either have a masters in finance or a CFA * You have the arrogance of someone who thinks finance should operate in a specific way, but you lack the humility of a doctorate or someone like Damodaran * You've never worked in an investment bank * Potentially IM/RIA, but definitely not anything tied to capital markets or an actual trade desk * It's not clear that you do work in finance but if you do you're in the back office * You live in a non-metro city - NY, LA, CHI, SF Bay - this ones more of a toss up, but I'm willing to put it out there - sometimes you can just tell 

hydrocyanide

That's fucking embarrassing dude. I'm a CFA charterholder as well. I also have a master's degree in data science. You still don't know shit about statistics.

InsouciantBadger

I’m a CFA charter holder with 23 years of professional institutional experience.

BeginningDatabase769

Hey, sure so I learnt though doing the CFA exams and on the job as well but there are also a bunch of videos on YouTube for sure that would be useful - there are too many people on there who do these kind of videos for me to recommend one in particular but just search options explained would be a good idea and then just keep clicking through the YouTube algorithm of suggested videos. When it comes to this example the bid ask spread was 0.36 and 0.53 so that’s a 0.17 spread between the bid and the ask. Now this is case specific because it’s a cheap option and therefore 0.17 is a large spread but let’s say this was an option priced at 7.00 then a bid ask of 7.00 and 7.17 wouldn’t be too large but in % terms the 0.17 spread for an option valued so cheap, it is very expensive. The bid ask spread is what market makers set and is another way they can make money but this spread can widen (I.e. get larger than 0.17) or narrow (get smaller than 0.17) just based on the market makers and open orders from other market participants. A wide spread is also a sign of illiquidity in the option and for this example it’s because it’s so far out of the money that not many people would be trading it. As an example as of writing >47 million NVDA shares have traded today vs only 36 options of NVDA of 28th March strike 540 have traded. 36 contracts vs 47 million shares is a huge difference in volume and hence liquidity. So that means less buyers and sellers so you may need to buy at a higher price vs the mid point and sell at a lower price vs the mid point to get your trade filled when trading illiquid options vs shares or even more liquid options. I.e. the closer to the money options usually have more liquidity and also check the expiration dates for liquidity differences too. I.e the March 28th 850 put has a volume of 726 vs the 36 volume of the same expiry but 540 put. And the spread here for the 850 put was 43.50 - 43.80 so a 0.3 spread but % terms that’s tiny spread vs the option cost of circa 43.50 vs the 0.17 spread on a 0.36 - 0.53 on the 540 put. Hope that helps on the spreads.

ConnectionAny3253

Look bad earinings ,ROA ,and CFA -6.000.000

Disastrous_Ad3779

Imagine listening to a regular financial advisor telling you can make 7 to 10% percent per year and you should be happy with it.  It’s my money and I need it now, call JG wenworth 877 cash now. Fucking CFA are professional scam artists 

hydrocyanide

I am a CFA charterholder and I've worked in investment management for more than 10 years.

TheOneWithThePorn12

you dont need the CFA books. like at all. Its for writing the Chartered Financial Analyst exams. Hard as shit. If you really want them if you went to school or have access to a library they may have them.

brodyyukin69

What are the CFA books? I will take any knowledge I can get lol

TheInfamousDingleB

Go get the CFA books. 2023 CFA it’s a 6 book set. Do not even attempt to start investing again before you read those. This breaks my heart but…there’s other ways man. 14% annual return on $100K could have been an extra $14,000 a year. 20% annual return on Oil plus an $100K tax write off for deducting Intangible Drilling Costs meaning you can deduct 75% of that value the first year means $75000 of your income is tax free plus the 20% dividend. Let’s say you’d be getting back $27K-ish for investing correctly the second year $32K extra on the year in your pocket.

Lumpy_Taste3418

Yes. The Intelligent Investor, Security Analysis both by Benjamin Graham. Common Stocks and Uncommon Profits by Fisher. Warren Buffet's letters to shareholders. CFA materials. Wiley Investment Classics.

LegerDeCharlemagne

>I think you’re suffering from a bit of recency bias.  I'm looking at all the available data. > I have 30-40 more years in the market. Which means you can afford to be even *more* aggressive than what I've advanced here. >Your core is SPY but you think VOO is wasting money? Not sure where you're going with this; I didn't say VOO is wasting money. I only asked you if that was your only investment. I almost always advocate for the "Core-Satellite" approach to investing. What is your job title? I'm at the Senior Vice President Level (executive director, whatever you want to call it wherever you are) in asset management. I'm also a CFA charterholder.

Nemo-pluribus-unum

Imagine studying for a CFA and then see how NYCBs management was playing the market with inside information. Lol

StrengthChoice1734

Finish your degree. Work a normal job and become rich. Invest personally and maintain your records meticulously. Do a CFA if you can. If you’re an unusually successful investor 7-10 years down the road, then ponder this question.

vhef21

You have $100K for a yolo? Do you smuggle drugs my dude? Are you a CFA making fools of us Wendy’s folk here?

griffmaster7

r/CFA

Infinite-Meet

CFA? Chikfila?

TX_CastIron

This is the TA I come here for.  They didn’t teach us this in CFA class.

addy2wake

CFA means nothing. Source: Am a CFA. Know nothing. Yet, somehow did luck out on CRWD... if this AH price movement holds, should be up around $50k on my calls.

SecretaryDowntown418

>y do cybersecurity and have friends who work at crowdstrike. I don't pretend to understand everything about corporate finances, market valuation, all that stonk jazz but my sentiment is CRWD go up. Been holding since $75 but had to sell to cover some hefty medical costs for my son. I bought in again last month after that retrace under $300. I even got my CFA to buy some in his own yea but it's gotten whacked the past 3 days. big dump off on friday with zscaler and today on earnings day?

cyberlogika

I only do cybersecurity and have friends who work at crowdstrike. I don't pretend to understand everything about corporate finances, market valuation, all that stonk jazz but my sentiment is CRWD go up. Been holding since $75 but had to sell to cover some hefty medical costs for my son. I bought in again last month after that retrace under $300. I even got my CFA to buy some in his own portfolio last year and he's happy. IMO it's got more steam in it.  

CarmentisX

I’m an analyst at a big firm with a level 2 CFA and my 18 year old little bro made me look like shit at my family dinner by making 150k on something called PEPE?? What the fuck is happening

Any_Yogurtcloset362

If you’re using a financial advisor you’d really want a CPA certified one over a CFA. That would give you additional legal protection. After that, what you’re talking about is asset managers, and I’d just stick with some of the big ones to be safe then.

PlutosGrasp

I’m just a dumb cpa that has worked on IFRS audits in the past. I’m sure you as a CFA with no acctg relevant experience or education could tell me how goodwill (GW) created in 2007 is not “old” OR “older” compared to GW created in 2023.

ULTIMATENUTZ

You don’t seem to understand that impairment of good will means that the productive assets that the goodwill recognition stemmed from have been revalued, typically due to updated DCF analysis, and those reduced cash flows are expected to remain depressed indefinitely. Unlike other intangible asset impairment goodwill is irreversible. You don’t have a clue about accounting it seems but why let that stop you right? It’s funny how the most uneducated ignorant people on here are the quickest to assume they understand everything. I’m just a dumb CFA though so I’m sure you have a lot to teach me and you probably manage a lot of money. 🙄.

BigAssMop

I just said it’s not as simple as net profit? What are you looking for then? CFA is a piece of paper (that I have as well) it doesn’t mean much else.

saynotopain

Umm I’m not looking for you to explain DCF. Any price target is based on assumptions. Any model of the future if based on assumptions. If you have trouble with non-operating income, you can exclude that. I’m a CFA Charterholder so I can see right through your argument. Those things you mentioned are called non operating income.

saynotopain

If you have a CFA charter and can draw an efficient frontier, then by all means do

whiskeyphile

You really should be talking to a qualified, fiduciary, independent financial advisor (or whatever the equivalent is in your country, like a CFA or the likes in the US). But, a couple of things to give you a few pointers. Your investment can be used as collateral for a significant loan at a preferential rate (rich people get better rates, cos they have collateral to secure the loans against, removing some risk to the lender). You can have money in dividend paying stocks and use that as income (not always tax efficient, which is why you need advice from a fiduciary). You can sell small amounts of your portfolio from gains, not touching the principal (the average year of the S&P returns about 8-10% historically, but it's not a guaranteed thing). You can sell covered calls (learn all about it before you fuck with options).

p3dal

>So i just completed CFA level 1 and been following some investment related forums, and it seems that technical analysis is frowned upon or considered to be “astrology” of finance. I would say it's more that using technical analysis *exclusively* is what is frowned upon, but this is far from a consensus. >If so, and if historical performance doesn’t imply future performance, I would say that conclusion (or implication) is entirely separate and distinct from trading strategies based on technical analysis. You can believe in one, both, or neither of these things. >why do i always see people with these multiple screens displaying candle stick charts and so on. Day traders? Options traders? Because some people believe in technical analysis, and some people don't. Some people even believe in some parts of technical analysis, but not others. You day can trade stocks with or without using technical analysis, and understanding order inflows and outflows is still going to be helpful in understanding short term price movements. >What’s the point of observing price fluctuations if they aren’t going to be factored into predictions? They *are* going to be factored into an individual's predictions, understanding of risk, pricing of options, etc.

Rare-ish_Bird

She's the only girl at the CFA conferences, so her odds are pretty good.

Gabagool_Capo

Maggie J is a pretty hot blonde that cheats on her husband when she goes on company trips and CFA conferences 

KodiakAlphaGriz

correct trading is a delineated skill I too have attained credentials ie CFA CAIA CMT CIMA charters however I learned to trade before I did so..I just studied to have credibility in foundation(like a surgeon who has studied the anatomy) however need to be fighter pilot on decisions not an expert reading IV DELTA GAMMA VOLUME RHO metrics regardless how mike ko on CNBC breaks it down- good luck

ULTIMATENUTZ

I think you’re beating yourself up because you’re under the impression that there’s some intrinsic ‘edge’ you should be able to demonstrate by virtue of being educated. I’m a finance and accounting major, CFA and I have nearly every FINRA Sxx license they offer. All that studying has lead me to appreciate one simple fact - nobody ‘knows’ anything.

VeganTrifle

Financial services professional and CFA Charter holder, who stays away from individual stock and short term trading here. The reason why you suck at getting short term bets on stocks like NVDA right is because everyone does. You are just seeing the lucky people posting about how much they made, while the unlucky traders go lick their wounds, which gives you a distorted view of the average trader's experience

Jancurlyhoes

Lemme hold 20$ Im tryna DoorDash CFA

ULTIMATENUTZ

I already explained it to you. They pay NNM credits for inflows into their brokerage premium deposit product precisely to combat outflows into traditional demand deposit and savings accounts t in the bank side. Moving money from bank to brokerage side is a constant focus. That never changes. They never encourage you to move money out of advisory or brokerage to bank savings accounts. Those flows are literally penalized in their advisors’ pay grid. You think you have some insight but like I told you, even entertaining this idea highlights how ignorant you are. Anyway think whatever you want - I’m only a CFA who worked there for six years. You are clearly very smart and I’ll never catch up.

Shapen361

I based that off of about 2 hours with a CFA textbook. Clearly I have much to learn.

jcoffi

I was talking to a CFA lvl 3 who pays 1.3 million in taxes a year. I've lived my life wrong.

vics80

I've studied the CFA out of personal interest and challenge, and let me tell you, bonds are by far the boring-est and hardest topic in the curriculum, along with swaps.

Extension_Canary3717

It’s CFA is not real debt anyways

Aloha1984

Is Dilbert even a CFA?

Great-Ad-4416

you somehow forget what this currency is, hint CFA Franc. also hint. the exchange rate of CFA Franc is enforce not by any nation in Africa.

PPEE_investor_YOLO

To begin with, he had studies in CFA (Chartered Financial Analyst) and worked helping investors and had a broker's license at FINRA. He knew how the system worked. What you have to look for is... the investment options. save your money, very important you need money to enter... I will open your account in some broker, not in Batman's friend, hahahaha apply for options, if you want more tell me

implied_volatility84

Respect. Good shit. I’ve got 10 years in the biz, 4 securities licenses and the CFA and I’ve never had a trade this good. Don’t get too confident though; the market conditions us to make poor decisions.

vics80

I'm paying to take the CFA just to have something to do, and I'm at Level 3. I lose just as much money as you, but at least I understand why better

entpwnd

I think you’d really benefit from checking out Mark Meldrum on YouTube. That’s his bread and butter, he’s a CFA prep provider and one of the best investing resources I’ve found (not a guru lol.) he does weekly market outlooks where he goes over economic data from the prior week as well. Personally I see more value in high duration bonds, for fixed income assets. But it’s starting to look like the market has WAY overpriced fed rate cuts so I closed my ZROZ position a while ago. Check out Marks YouTube channel, hope this helps.

Sefft

I think you mean “crash” big CFA dawg. 5% is by definition a dump, just not a market crash

jaypowwow

I do this for a living I hold CFA level certs, my series , there is no dump coming right now.

Robb-san

My CFA friend told me the market was too “bloated” a month or two ago and said he was holding cash for an “easy 5%” 

javanator999

Actually, he was a CFA Institute charter holder, so he passed some of the toughest exams in all finance. He is a very highly trained security analyst.

lsavfin

Should hold just because you're not at your target. Sorry for the CFA plug but the loss aversion bias is real ...

entpwnd

Great point on the 401k’s, Blackrock is very active in this space. I’m a financial advisor right now (just retail banking atm, writing my CFA in hopes of moving up) and when I ask people about their workplace sponsored plans many of them have never even looked at them. On this point hypothetically the market could continue to rise on the back of payroll deductions and 401k’s. But I don’t believe that all of the players will turn a blind eye while the markets drift from the fundamentals. To add to the argument that the markets could continue to rise there’s a lot of fear when it comes foreign markets right now. (Chinese markets for example). Being that the US is the petro dollar and reserve currency the US markets probably seem like the least dirty shirt right now. I still believe that against the backdrop of consumer stress the markets will stumble. People are drawing from their RRSP’s (I’m Canadian) to make lump sum debt payments in disturbing volumes. Large withdrawals will begin to outweigh the payroll deductions going in, and many households will fall short of disposable income to invest.