CFA

YaDunGoofed

>Do you think I should speak to someone Since you keep asking. Yes. "Fee only fiduciary" is the term you're looking for. >should I set up a steady monthly income stream You're trying to do one of the things in money management that is actually difficult (trying to create an even income stream from a portfolio). I would not do it. Fundamentally. You're in one of two buckets. 1) You have way more than enough money. Your balance will never draw down - which means don't do any of the shit you're doing and just set regular withdrawals. It doesn't SOUND like you have this much money, but idk your spending needs, your mortgage situation, your pension etc. 2) Your balance WILL draw down as you age. The only REALLY meaningful think you can do is plan your capital spending. Don't buy an RV during a recession. All the other stuff is a waste of time. Which means done do any of the shit you're doing. Just use a target date fund and drawdown money that is taxable before non taxable. PS. tf is wrong with you putting that much money in a money market. PPS. I have the CFA designation so I'm not a loon, but I'm also not your advisor because that has more to do with managing your state of mind and spending plans that he things we're discussing.

Healthy_Peanut6753

My girlfriend is 29 and works at a FAANG and recently sold her RSUs that vested recently. She is just sitting in cash right now. I worked in finance many years ago and barely remember what was on the CFA exam, but gave a shot at coming up with an allocation strategy for her using a combination of myself (not credible), ChatGPT, and a few other LLMs. Oh, she is just looking for growth (horizon 30 years until retirement) - no withdrawals needed, and she is not risk averse. Maybe I'm missing something else - I'm not a financial advisor lol. Here is what I came up with: |Sleeve|Allocation|Strategy| |:-|:-|:-| || |Core|20%|50/50 META/GOOGL - direct replacement for QQQ| |Growth|55%|5-10 narrative driven stocks - bias to tech & healthcare| |High Yield|10%|CSPs or covered call writing - maybe just ULTY| |Income|5%|Funnel premiums from high yield to JEPQ| |Cash|5%|SGOV| |Hedge|5%|QQQ puts| Does it make any sense? Am I an idiot or should I just tell her to go to the nearest Wells Fargo? Thanks in advance!

aka_rob

Mark Meldrum’s Applied Finance section of his CFA study course is amazing. It’s also not for the faint of heart.

tendytinglings

Just buy the CFA books…

Shacreme

How is it possible that I passed my Level 2 CFA exam, yet my portfolio performance is absolute shit?

geekydreams

He didn't touch his 401 k. Just kept putting money in it. I thought he would gain it all back when the markets turned around also but he didn't and I'm not sure why. I haven't delved into it that deep. I'll have to see about an advisor around here. Is that a CFA?

CIassic

CFA curriculum has updated the heuristic to be 120-age now. But same difference.

MinatoNamikaze15

Hi Friends, My name is Arsen. I'm 27, from Kazakhstan, and with my wife and our 8-month-old daughter, we’re trying to build a future through education — not just for ourselves, but for our community. My wife dreams of getting CELTA certified to teach English. I’m preparing for the CFA to teach financial literacy — in a country where many live in debt and know little about money. We both work, but all our income goes to rent and baby expenses. We’re raising **$20,000** for tuition, travel, and exams. 🎯 If you believe in the power of education — your support will help us teach hundreds in return. 👉 [Here’s our campaign](https://fnd.us/62ZrCc?ref=sh_9EHRJe) Even reading and sharing means a lot. Thank you! 🙏

jfk_sfa

I have a BBA in Finance, and MBA with a concentration in financial analysis, CFA Charterholder since 2008, 25 years of industry experience... I say all that to say by all accounts, I'm an expert in this. That being said, I can't predict the future. If I could, I wouldn't waste my time trying to time the market. I'd just go buy a winning lottery ticket.

scm66

An Indian CFA is mentoring me through the exam. I don't understand a word but he seems enthusiastic.

scm66

An Indian CFA is mentoring me through the exam. I don't understand a word but he seems enthusiastic.

jfk_sfa

I obtained my CFA Charter in 2008. Having gone through levels one through three in 2006 through 2008, it was a really interesting time to put it all in perspective.

Reitter3

Funny enough, i am a CFA chart holder lol

DieuEmpereurQc

This is the answer, it’s also in the CFA level 1 curriculum

Emotional-Price-4401

I grew up poor friend, no stranger to food pantries and community help. Those are things you should pursue, not gambling with money you cannot afford to lose. If you really want help you should take stock of your income/expenses. Figure out ways to improve either or both. Reach out to family/friends for advice. Probably should sell the house as it likely has capital locked up you need for more immediate concerns. Im not a CFA but ai did climb out of poverty with a lot of work and a lot of luck… it isn’t fair or pretty but you post is hubris and stupid and you need to be told that until you understand. You only gamble what you can afford to lose. Hope you find a healthy path for yourself and your kids.

Illustrious_Oil9587

You overtly are M7 MBA in economics or CFA lolololol.... back to regularly scheduled surfing

AsparagusDirect9

Bro you must work as an analyst or have a CFA because I bet half the people on this sub will have no idea what they are reading, they just see stonk market go up = green curlor

GhostOfLaszloJamf

Do some people do like zero due diligence or research on how the market has behaved historically during wartime? Because it’s not what this fearmongering weirdo is declaring so confidently. https://endowus.com/insights/market-performance-in-times-of-war “Furthermore, a study by CFA Institute shows that across all major wars since 1926, stocks typically returned 11.4% for large cap stocks during wartime versus an average of 10% during the whole period and 13.8% for small cap stocks during wartime versus an average of 11.6% during the whole period for the overall market. It is interesting to also note that the periods during war had an average inflation of 4.4% versus the whole period average inflation of 3%. So war is inflationary and also good for markets — which is a counterintuitive result. Of course, all wars are different and markets react differently to it. However, even the recent examples of the Ukraine war led to a 7% fall in the S&P 500 index in the weeks that followed but recovered a month later to above where the markets were when the war began, and we have seen a similar trend in the recent Israeli-Palestinian conflict.”

Connect-Lobster7584

I wrote for SA for a while. SA had much better editors/management years ago. Now the editors are mostly ignorant about finance/investments. When they went from ad based to paid subscription based there was a decline in article quality, which is odd because one would expect the reverse. One reason the quality declined is that you had to ONLY have "actionable" articles/content and include buy/sell/hold recommendation. You no longer could just include facts/insight/analysis/data and let the reader decide - this led to writing articles that just supported the recommendation and led to a serious drop in quality. (The article quality was not great to start with - but this made it worse) When some upper level editors/management left - they were replaced by inept people - especially those in India. Too many editors did not have proper investment training/education. For example, I once had an editor that objected to using "the unsecured notes are currently trading at 78" She insisted that "78" needed a $ sign. When I told her that "78" implies that it is trading at 78% of par value - she then wanted me to include % - I refused because that is not the standard way of writing about a bond/note price. She insisted I HAD to either write trading at $78 or 78%. She was so ignorant that she did not know that the 78 is actually $780. I ended up just deleting the entire paragraph. SA was never really intended to be a professional investment website. It was intended to be a collection of different range of financial/investment backgrounds - from college students to CFA portfolio managers. Many never wrote for the money (payments are a token amount-IMO) it was just hobby or a way to network with those who are investment professionals. Some of my articles did get large views (over 100,000 views), but I often wrote on news sensitive events/companies. I would never pay for SA content.

Specialist_Item5251

Here’s the thing all of you are saying it’s not worth it. I got accepted to UIUC (Illinois) for their MS Finance program. I went to a small D2 school, double majored in finance and accounting, and haven’t landed a single fucking internship. So my next best idea would be to go back to school, specialize in something, and then down the line if a company wants me to get my MBA I’d do that. I’m a very sharp student and person and I should not have only been able to manage to get a teller job at PNC. I don’t want to pay the absurd amount of money required for it however I think it will definitely get me somewhere. You can say oh just network, oh just do this, well I have and nothing. I’ve interviewed, connected with tons of people, put myself out there to the business people on lunch at the fancy restaurant that I used to work at (networking), and nothing. I’m attempting CFA level 1 and have great experience through school along with the double major. I’m really just pissed that I haven’t been able to land anything. A good program is going to be worth it. I search UIUC’s page for MSF alumni and current students and they have all landed great jobs and internships.

Aggressive_Road_915

I've been trading for 5 years, like most traders do, I took many courses when I started. I took the best 10% of each strategy to build my own. Now I use several greeks exposure not just gamma and MM hedging strategies, remember that there are 1st order greeks, 2nd order greeks and 3rd order greeks. Market Makers hold huge positions in the options market and hedge these positions in the futures market, they leave clues that if you understand how their hedging works you can use to trade ES and NQ futures I took a program very similar to the CFA certification on quantitative strategies so I'm not really sure if there are YT channels on this to be honest, I do my research on academic papers, I've read hundreds of them

omad13

Is this a thing? ......or have u captured it "Idiot Gravity" Jellz The title of the final section in CFA 3 exams

MemorableCactus

Just go to Popeye's. Will your order be correct? Potentially. Will the employees act like you're bothering them by being there? Good chance. But whether you get what you ordered or not, it's still the best fast food chicken in the game. CFA has no spice even if you get spicy, Cane's is straight up unseasoned and is only saved by the sauce (which IS excellent).

Mahjin

it's pretty much anyone with a CFA can give their 2 cents no matter if they have actual trading/investing experience.

Super_mando1130

Working through my CFA - this is covered in detail and basically all but “proven” through mathematical analysis. Not just Sharpe but information ratio as well all show it’s just not worth it to pick stocks individually

AbiralParajuli

How many of you regards are CFA certified?

SANTKV

I am a CFA Level III candidate Bro ! Chill

max_strength_placebo

Peter Lynch's books are still excellent, and you don't need an MBA or CFA certification to follow the content. He was bit skeptical of academic thinking, anyway. Joel Tillinghast wrote an excellent book called *Big Money Thinks Small* He was hired at Fidelity based on a recommendation from Lynch. Nassim Taleb's books, not directly and entirely about investing but very relevant to investing.

MohJeex

That's what the page says.. beta is a measure of historical volatility. I know what the textbooks say.. I'm a CFA and work in the field. I'm trying to pass on to you that historical volatility does not equate to how risky something is. If that was the case, then every stock that has a beta of <1 would be less risky than holding the collective stocks in the SP500.

AdAmazing8187

Thanks for the disclaimer. By your title I figured you were a level III CFA. It’s only the pros who use the term “Full Port $1 YOLO” I believe.

Pwaully

I've been trading in stocks since 2009 and in crypto since 2015. I did take the CFA exams once, cleared level 1 and 2 and failed 3 (so I can't write CFA with myself). Other than that I only have my degrees (Masters in Econ from LSE (UK) As for a below comment, I think I have beaten the market many times. In my own opinion, about 80% of the time and have done fairly well for myself (esp in crypto)

Better-Breadfruit705

This actually just came up in my CFA text book. Just take these as extra options. Taxes is your biggest concern. One common approach and may be best for you is to gradually sell the stock over time. spreading it out can help manage the tax impact and make the transition feel more controlled. If there are any other holdings with losses, those can be used to offset some of the gains. Another option is donating some or all of the stock to a Charitable Remainder Trust. That allows u to avoid immediate capital gains, generate income, and benefit a charity they care about. Similarly, gifting shares to a family member in a lower tax bracket could reduce overall tax liability if they later sell the shares. if ur a qualified investor, exchange funds are worth exploring, they let someone contribute concentrated stock and receive a diversified portfolio in return, without triggering taxes right away. There are also ways to access liquidity while still holding the position, such as borrowing against the stock or using a collar strategy to protect against downside. And in some cases, especially with estate planning, holding the stock until death can allow heirs to receive a step-up in cost basis and avoid capital gains altogether but you said you wanted to sell now.

Soft_Law1678

I genuinely hate when people respond in such a harsh and spiteful manner, especially when someone is simply trying to help a beginner. You probably didn't even read my first line before you started firing. I explicitly mentioned, "technically, it's not exactly like this," clearly indicating a simplified explanation for a beginner. Should I have bombarded someone completely new to investing with terms like "market-cap weighted," small-cap, large-cap, growth stocks, value stocks, and so on? Regarding ChatGPT, what's your realistic suggestion for a beginner? Should he first obtain a CFA qualification to be able to analyze financial statements or perform technical analysis? My suggestion was merely a practical shortcut to get some quick, accessible insights. Regarding drawdowns of 20-30%, I never stated it was the maximum risk. I simply indicated it's a common downside a beginner could reasonably expect in negative market periods. I'm clearly simplifying things given his level of experience, but I stand by the essence of the advice I provided. Just to clarify, I have 18 years of experience in trading and investing. I'm a top popular investor on eToro and manage $600K on FTMO in addition to my personal accounts. I'm also a Chartered Wealth Manager, so, "technically", I'm qualified to give financial advice. Of course, that's not to say I can't be wrong. I always welcome constructive criticism, but there's no need for cruelty.

AKdemy

Why would you think the CFA, or a bachelor in finance should help with options trading? Neither the CFA, nor most finance degrees teach much about options or trading.

BrownBritishBrothers

“CFAs lose money faster than a wallstreetbet degen” - President, CFA Institute

Short-Philosophy-105

Yeah, it is wrong. Valuation in CFA/MBA is wrong. Why do you think so many “professionals” fail to outperform an index? You think the CAPM model is doing them a service? Give me a break.

ringoxniner

CFA as in Chil Fil A employee? Proper regard

PhgAH

If you pass the CFA, is time to dust off the resume and start applying. 

Ebisure

Interesting points as this put into question the rational actor assumptions that permeates economics and finance. Rationality is assumed in Moderrn Portfolio Theory. Throwing this assumption out means CAPM is fundamentally flawed. And all the valuation you learn in MBA/CFA is wrong.

RTiger

I know someone with CFA level two, bachelors in finance. Unfortunately he is a below average trader. After five years of below average results he has waived the white flag and mostly does indexing. I’m not a fan of paper trading. I suggest live trading with tiny amounts during the learning phase. I suggest at least a full year of trading small and simple. Gather data, journal a lot, plan every trade in writing. As for returns, break even during the year of learning is a good result. Long term, anything over 20 percent a year tends to involve extreme talent, risk or luck. It is a very rare person or firm that can continually average over 20 percent a year. Not impossible just extremely rare. Anyone asking for advice probably doesn’t have extreme talent. That leaves luck and risk. Sure some people get lucky. We see posts every week about some lottery ticket option trade paying off. Most of those have their luck sour at some point and are sometimes wiped out. Similar with risk. I’ve seen plenty of posts here reporting superior returns for a few months, sometimes a year or two. The vast majority are a variation of financial Russian roulette. Great returns with a small chance of being wiped out. Say the chance of wipe out is 1 percent a month. That means a high chance of losing everything within ten years. I’ve written many times that if money is the primary factor, I would have been better off focusing on career and side hustles instead of learning to trade options. Those thousands of hours spent learning to trade options were a poor business decision. YMMV

OkTax379

Is this guy a CFA? Or a CFP

occurious

Bank advisors get paid in commissions. They are nearly universally terrible because of the incentive structure. Far better is a fee-only CFP or CFA who is paid by you, not by commission. Always ask how they are paid and if they get commissions. Honest advisors will be completely up front and clear about this.

No-idea-for-userid

As a CFA, it is only an entry level thing. The real deals won't come until you lose money a few times. Trades I put into our portfolio outperformed the market by 60% YTD for macro. Stock picks outperformed the market by 20% YTD and 80% over the past 2 years. I lost 20% in April trying to 10x my account shorting the market and still outperforms the market by 14% YTD. I'm just saying, titles and college degrees PhDs don't mean Jack shit. You gotta be able to think and apply.

RTiger

There are many roads to Rome. If a person hasn’t found a few semi consistent ways to trade over five years of decent effort, it may not ever happen. I know someone with a CFA, plus a degree in finance. That person is a below average trader despite superior education and knowledge. After five years of below average performance, he has mostly waived the white flag. The bulk of money is index funds. I’m not a fan of stop losses for options. With all your journaling I would hope a person has a few superior setups, tickers, strategies. If a person can’t make with simple, complex usually doesn’t help. If a person is fairly consistent at losing money on certain trades, Captain Obvious says the opposite trade may be a decent idea. It sounds like you have put in some time but are still struggling with profitability. As for my own journey, I experienced several years of losses at the start. Taking a closer look at my trades helped me identify at least a few ways to improve my odds. It tends to be difficult to make money just buying options, especially low probability of profit options.

jwallin2007

No one with a brain (CFP, CFA, or a series 7 license) would think that’s appropriate. In fact, we wouldn’t even consider writing that garbage on the net to embarrass ourselves? Do you, though

Humaniac99

What type of naked calls should I try to sell as a pansexual transgender hermaphrodite sex worker CPA, CFA, ChIC?

jfk_sfa

It is starting to look that way.  I’m a CFA Charterholder since 2008 and work in valuation.  I honestly hadn’t been paying too much attention to what has been happening and have yet to dig into the numbers but the precipitous decline has me intrigued. 

Rez2moneyupnext

Guys I’m in the UK and I rly wanna know what is this app in the picture. I’ve traded CFD’s and I learned ab options for my CFA so I rly wanna give this a go.

No-idea-for-userid

I didn't research fully into this but others at a CFA event had delved into it quite a bit. Their conclusion was the rise of passive/systematic investing and target date fund. 401(k)s are among the largest holder of US capital assets and people pour money into it and create some sort of portfolio that has fixed weighting in asset class such as 60/40 (60% stocks/40% bond). This is marketed as "long term strategic allocation" and there are empirical evidence that it works. However, over the years, this became really popular which has potentially led to crowding effects and contributed to the high multiples we see in US large cap companies, as well as ridiculous buying of US treasury at extremely low rate because no one is actively managing it, people are just mindlessly pouring money into it.

Rez2moneyupnext

loool I’m the same. I have a CFA still tryna figure out how to trade options.

Usman198270

Got a question if you don’t mind. I worked in FX and studied the CFA so have a basis understanding of an option. So they way I inderstood was affectively, I pay an upfront cost and buy the options. Whether these options are ITM or OTM is dependant on the movement over the life of that option. However, whenever I have tried to trade options on other apps (not robinhood), it asks for margin etc. Am I being stupid? Or does margin continue to play a part on options I understand for sell options I may need margin as I’m giving away the option to buy to someone else but why on the buy options? Any help will be greatly appreciated and hope my comment make sense

RhambiTheRhinoceros

I’m a CFA charterholder, finance professional. I have enough brain cells to understand situations where currency devaluation would cause indexes to rise.

SenatorAdamSpliff

I’m totally fine with that. I comment on Reddit all the time when I’ve been drinking. Do you have five year olds? I do, and she’s the youngest of three. This is how I’d describe stocks to them and I’m a CFA charter holder with 25 years of experience.

Impressive-Cat-2680

To be fair what the gentleman said is quite basic. They will teach you in CFA but of cuz this convo is 7 years old lol. 

phard003

You're right. I misstated my point about equity devaluation. To clarify, I was thinking about how a dollar denominated portfolio's value relative to other currencies would decline if the dollar weakens, not that the underlying companies themselves devalue. For international investors or when comparing purchasing power across borders, this currency effect matters, but the companies and their operations maintain their intrinsic value regardless of currency fluctuations. That distinction needed to be made to identify the error in my response. However, my core argument still stands about the oversimplification of currency effects on equities. The relationship between dollar decline and stock performance is complex and varies significantly by company and sector and does not guarantee an inverse relationship at the same rate. The CFA article you shared supports this nuance, as it states that equities are not always a perfect inflation hedge with varying performance across specific sectors during different inflationary periods. While equities can provide positive real returns over long timeframes, this doesn't mean they move in predictable ways with currency fluctuations.

isdhjsdajs

Markets are unpredictable and it takes a professional CFA to get you the appropriate profits

isdhjsdajs

If you have a reliable CFA, I don't think it will cost you a lot of money

jfk_sfa

I was invested through the dotcom bubble so it wasn't my first dip. It didn't feel like anything for me. It was wild to see Lehman go under in real time but it didn't impact me any way whatsoever fortunately. Our business was impacted in 2009 with a 25% dip over 2008. There were some layoffs but honestly, nothing too far outside of what needed to be cut anyways. Things were stable in 2010 and fully bounced back in 2011. I'm still at the same company as I was in then. Investment banking. CFA Charterholder since 2008 coincidentally.

surfoverwall

Wrong, because : New. 5/6/2025.. Please check "X" Hedgeye posted yesterday : [Andrew Freedman, CFA 🦅 on X: "\*SHORT $RDDT 40% DOWNSIDE" / X https://x.com/HedgeyeComm/status/1919759365638140388](https://x.com/HedgeyeComm/status/1919759365638140388)

surfoverwall

New. 5/6/2025.. Please check "X" Hedgeye posted yesterday : [Andrew Freedman, CFA 🦅 on X: "\*SHORT $RDDT 40% DOWNSIDE" / X ](https://x.com/HedgeyeComm/status/1919759365638140388) [https://x.com/HedgeyeComm/status/1919759365638140388](https://x.com/HedgeyeComm/status/1919759365638140388)

jfk_sfa

BBA in finance, MBA with a concentration in financial analysis, CFA charterholder since 2008.

InverseTheReverse

When’s the last time you raw dogged a Chick-fil-A nuggets with no CFA sauce

thanatos0320

Finance degree, CFA, finance career, several finance relates books, and several primers about different sectors.

acogs53

I will go to Chick-fil-A every time over McD’s. Why go there when it’s easily $30 for an adult and two kids? No thanks. At CFA, the app and rewards are actually great. I can often get a free meal for my toddler with my reward points (I order 12 count nugget meal with large fry and he gets a 5 count nugget of his own, we split fries).

ChoiceMarch5246

Deposit 10% of each loss into a separate account as a ‘tuition fund’ and force yourself to take the CMT/CFA system when the fund reaches 50% of your current account's net worth. The essence of trading is a probability game, and the difference between a top trader and an ordinary person is that the former uses algorithms to tame emotions, and the latter uses emotions to destroy algorithms.

wa_ga_du_gu

Last year a Door dash from CFA accidentally got dropped at my house. I looked inside the one bag and it was like $60 plus whatever delivery charge it was I called the number on the receipt, and she came and picked it up 2 hours later 

DocHollidaysPistols

> I doubt Chick-fil-A has this problem, but I’ve been wrong before. My son works at a CFA. They seem to have so many more people working there than a typical McDonalds or Wendys.

moldy912

CFA service has gotten worse. They are getting orders wrong when they used to never do that, they used to have your food ready in less than 1 minute, now it can take 5-10 minutes for a chicken sandwich, and I’ve noticed they’re hiring more people that aren’t as bought into the “my pleasure” culture, which as silly as it sounds, is super refreshing and makes me want to come back, but I’m getting that less and less. They are at least doing more seasonal and experimental menu items.

EnrichedSarcophagous

Not sure why you’re being downvoted, everything you said is correct from my experience. Nearly every time I walk in to get my food and then come back out, i’ll see the same cars waiting in the drive thru that I saw when I initially parked. It’s kinda funny cus they have to watch me arrive, get my food, and leave, all while they wait for the car in front of them to choose a soda. Also, when you use the app you get much better deals and you can put together 1000+ calorie meals for $3, i’ve been doing this for a while now and the prices make me feel like i’m back in 2010. Below text wall is just a vent: I can’t stand McDicks and CFA mandatory wait times so they don’t start your order until you get there. The ENTIRE point of ordering ahead is so you don’t have to wait, so I try to remember to hit “already here” on the app when still driving but sometimes I forget and have to wait 15 minutes for food I ordered 30 minutes ago, absolutely ridiculous. I get that they implemented it because of those dullards that can’t time anything and show up super late, but why should those with basic time management skills pay the price for stupidity? They should just have a rule where they throw out your food 30 minutes after ready, and if you have a real reason why you can’t be there by then, then you just call the restaurant and let them know you’ll be late or do a refund. If we didn’t build safeguards for these people they would show up 30 minutes late and get cold food or no food, and maybe then think about why and what they can do differently next time 🤯🤯

ShrekssToilet

You also forgot the fact he was a licensed CFA and worked in the industry, not just some random bloke

Vast-Mud3009

If all you order is black coffee with cream you should try CFA. It’s pretty good there too and faster

ajeskimo

I am literally mocking these people and i don’t have sophisticated anywhere in my comment, I wrote quantitative analyst which is just a numbers guy, it could be a sophisticated or absolute braindead person it’s just professionals are normally very well educated and by a sense sophisticated. Tod from Walmart could write one up and it’d be quantitative analysis if he could show you his work to how he came to a decision using numbers only and historical data. Normally people don’t do it by hand anymore. For excel im saying a spreadsheet with CFA Lvl 3 or hedge fund analyst level equations being utilized and you inserting into cells, it could be made by a close friend and utilized hence a general sheet since you could not make it theoretically. (And no not one from work, one made in free time) but that’d be super rare

jfk_sfa

You have the most valuable asset in the world, time. You don't need to get to tricky with what you do. Max out your tax advantage accounts, diversify, keep your spending in check. It's honestly extremely simple. Source: BBA in Finance, MBA with a concentration in Financial Analysis, CFA Charterholder since 2008.

Lumpy_Taste3418

This is still a parimutuel betting system; the roulette analogy is apt to describe that, not a "50:50." If we sum up the probability distribution curves by direction, it is close to "50:50" in the short term. It isn't "50:50" long term, which is why the vast majority of the short-term concerns are massive distraction and bullshit. Warren Buffett must not have significant money, or your representation is false. I'm going to take door #2 on that one. A hedge put together by someone who understands markets, risk, duration, probability curves, real rates, nominal rates, ROI, ROA, ROE, etc., can increase probabilities in their favor. This is Reddit; they are spouting "Chicken Little" concerns. That isn't CFA/PhD in finance, that is Chad, who thinks that 280k in an account is a "large position." He isn't hedging but rationalizing his speculation, motivated by fear.

omigula

get a CFA and work for JPM or WFC in PWM. you can continue being a degenerate, but still earn a commission on losing you and your client’s money

poorat8686

All of that is fake nonsense made to keep you a slave to the machine. If you need tips just ask me, I turned 5000 into 100,000 and then ended the year down 30k because I needed the pain to keep my focused. We’ll go to the woods to push ourselves to the absolute limits physically and sexually. I bet your CFA doesn’t teach you THAT.

Initial_Somewhere_67

Asked my CFA friend why are the futures pushing up on China saying no talks were made. He has no idea as well 

AndreLinoge55

I did Equity Analysis at a large bank and managed a long only discretionary portfolio for some clients. We had great risk-adjusted returns but it was a ‘boring/slow money’ type portfolio. A few years in I did the first two levels of the CFA and always considered myself knowledgable when it came to investing. Fast forward years later and man investing is to trading what car is to carpet, different fucking planets. Like damn I do I not know shit about short term trading lol. I guess I can’t DCF model my way into a winning options strategy on the day to day. Anyone want to adopt a boring ass fundamental analyst as a trading mentee?

stonkDonkolous

Most fast food absolutely sucks now. Even CFA quality is down a ton from a few years ago and the fries are barely edible now. Everything is overpriced and lower quality crap of smaller portions

captain_ahabb

I never got the hype with CFA. The sandwich is mid.

franker555

I am bearish on tesla for earnings- but sold my TSLQ today at highs for a 20% gain. Theres a chance ill buy some more tomorrow if Tesla goes green, but honestly expect earnings to be manipulated in some way. I don’t trust it. Elon was golfing with 🥭yesterday lol. I’m no CFA but i would sell your puts and buy TSLQ to lower some risk. Im guessing your puts are looking good rn anyways. In terms of the rest of the week, i usually look day by day. I look for big recent insider buying. Cant believe i missed CATY. Ill let you know if i find any good plays.

sovlex

If you like what you read and decide to be serious about it, i mean really serious, then stop assorted reading it wont give you system knowledge ie it all will be in wain. Go straight to CFA Institute and study Level One. It will completely erase a year from your life but there is no better foundation you will get anywhere.

SuburbanPat

Now you can register for Level 4 of CFA

Subtotal9_guy

I was at a Toronto CFA luncheon 20 years ago where the panel speakers were arguing that North America would run out of natural gas and we'd be importing LNG in 20 years.

arbitrageME

the flip side is: Learn fundamental and foundational knowledge. take a CFA course, [learn stochastic calculus](https://www.amazon.com/Options-Futures-Other-Derivatives-10th/dp/013447208X), learn data science, [machine learning](https://www.amazon.com/dp/1119482089?ref_=ppx_hzsearch_conn_dt_b_fed_asin_title_1), read [white papers](https://www.sfu.ca/~poitras/419_VIX.pdf) and find or calculate the edge yourself. only you know and only you are responsible for knowing everything inside and out.

SpecialistB

CFA from YouTube

Fluck_Me_Up

Ah yes, the classic “it’s just a research tool” defense—bro typed like he fed ChatGPT a prompt that read: > “Write a Reddit comment in the voice of a risk-averse CFA who’s afraid of volatility and women.” Your post reads like it was generated by GPT-Financialized, fine-tuned on a mix of SeekingAlpha blurbs, failed crypto whitepapers, and the ambient sound of CNBC. Did it clean up your writing? Sure. Did it think for you? Absolutely. That thing’s got your brain in a liquidity trap and you’re out here calling it “efficient market hypothesis.” Meanwhile, I’m over here raw-dogging the keyboard like a real degenerate, down 40% on SPY weeklies but spiritually rich. (I think chatgpt just called you a bitch)

Affectionate-Day2743

I hope CFA never goes public because I fear their quality would go way down. by being private they can be more selective and not sell out for the sake of boosting market cap

Affectionate-Day2743

chick fil a is absolutely demolishing wendy's in markets where they both compete (metropolitan areas). wendy's does venture out to smaller towns though where CFA isn't going to bother.

Tkdoom

So...200 cars an hour..thats 1 car less then every 20". Every CFA I have been to is slower than a jack in the box. So...please explain.

Antique-Resort6160

Yes, absolutely, doesn't France lead the world in % of nuclear power? They actually export electricity to other countries.   The reason being, they were getting uranium for a tiny fraction of its real value from their former colonizers, thanks to quisling governments.  They were still de factor under french control.  Now they are expelled, France has taken an enormous blow as they can't impose their colonial francs (they provided paper CFA francs in exchange for 50% of the face value in gold) and they can't basically steal uranium and other resources from the Sahel region.

Peace_and_Rhythm

So your first meeting is primarily about getting to know the advisor, understanding their approach, and determining if they are a good fit for you. **Qualifications:** What are your credentials and certifications (e.g., CFP®, CFA, ChFC)? What is your area of specialization or expertise (e.g., retirement planning, investment management, estate planning)? Are you a fiduciary? (This is crucial. A fiduciary is legally obligated to act in your best financial interest.) **About their services:** How do you develop financial plans and investment strategies? How will you keep me informed about the performance of my investments and the progress of my plan? What is your investment philosophy? Are you a passive, active, or hybrid manager? **About fees and compensation:** How are you compensated? (Fee-only, commission-based, or a combination?) If fee-only, what is your fee structure (e.g., percentage of assets under management, hourly rate, flat fee)? Can you provide a clear explanation of all fees? If commission-based, how do you earn commissions? What potential conflicts of interest might arise from this compensation structure? Can you provide an estimate of the fees I can expect to pay based on my situation? Determine if you feel comfortable with the advisor's communication style, personality, and overall approach. Do you feel they listen to you and understand your needs? Gauge their knowledge and experience in areas relevant to your financial goals. Clearly understand if they are a fiduciary and how they are paid to identify potential conflicts of interest. Understand what the advisor proposes as the next steps in the process if you decide to work with them. This might involve a more in-depth data gathering session or a preliminary plan. Collect enough information to decide whether you want to move forward with this particular advisor. You are not obligated to sign anything or make any commitments during the first meeting. Ask your advisor about the security measures Right Capital employs to protect your data. This should include encryption (both in transit and at rest), multi-factor authentication, and regular security audits. Inquire about Right Capital's and the advisor's firm's data privacy policies. How is your data used, stored, and shared? Understand the level of access your advisor will have to your accounts through Right Capital. Will they have view-only access or the ability to initiate transactions (they generally should *not* have the ability to initiate transactions without your explicit consent outside of the platform)? Hopefully I've provided some information you can use. Good luck!

summerloverrrr

Not sure how many of you guys know but CFA does some cool stuff with tech to manage their operations [cs guys check this out](https://youtu.be/W1HKFIb_2hs?si=BFT4SwOYIA3jK6T9)

AdSuspicious8005

The $6.99 promo codes for Subway smash getting a single CFA sandwich to pieces.

heyredditaddict

Fellow CFA guy here. Your risk management approach needs work. When risk is rising, you need to shorten your duration on the put contracts, not lengthen them like you did. You’re showing some characteristics of loss aversion, meaning you are trying to not acknowledge the loss by rolling for higher and higher premiums. Keep that up and you’ll blow up. We’re in a Black Swan event and you need to accept losses when they happen and have some mechanism to reduce risk when your strike prices get hit.

hgreenblatt

For a CFA, you are not telling us much info, just how you feel. So you have 150k in Spy. So how much BP do you get, I will guess only 50% which is 75k . Trouble is your 150k in Spy dropped in value. I will guess you had 250 shares valued at 150k at 612 per share. Shares at 480, so 120k, half 60k . So your 75k BP fell to 60k BP. I am pretty sure your BP per option hit 10k or more. Assignment would have been way better , but when they closed you out you were hit with all the extrinsic value (theta). So your problem was your BP was in Spy , if it had been in Sgov you would have been fine , but you got a double whammy, Spy Puts BP doubled while your BP went down. The rule is have the same amount of BP in reserve as the original option requires. You would have know this if you followed Tastylive. I do not think you got decent advice from IB. That said I totally agree with your outlook of selling Puts. Tune in Tastylive everything is recorded and free. Here is a sample. [https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020](https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020) A Refresher on BPR Jun 29, 2020 [https://ontt.tv/3jAf4Ba](https://ontt.tv/3jAf4Ba) Buying Power Factors Oct 28, 2020 [https://ontt.tv/2CLbOjn](https://ontt.tv/2CLbOjn) What Affects Buying Power? Nov 14, 2019 [https://ontt.tv/JeGVN](https://ontt.tv/JeGVN) Short Puts vs Covered Calls vs Poor Mans Covered Call Jul 9,2024

MasterGerund

Yes you're right. I wasn't trying to actually do the math but to point to a better understanding of the risks. He needs to start from target risk and then back into position size. With a CFA he should be able to do that.

julie78787

There’s religious holidays coming up for the Chick-Fil-A crowd. Wait for after the end of Lent before using CFA as a market signal. Also, my most recent vacation trip confirmed the economy is toast. My regularly full hotel is half-booked. Rental car lots are full. “This flight is completely full” flight had multiple open seats. Ignore the CFA Index. Go on vacation and see how many other regards are out there checkout the Travel Services Index. Next trip I wear my WSB hoodie from The Great GME Squeeze debacle. Wave to me.

Derp_El_Grande

Used to live in a town with only one CFA and worked delivery so I was in and out of that CFA multiple times a day. It absolutely seemed busier in the morning and at lunchtime than it was at night. Sometimes at night tho they would get an absolutely crazy line at the drive through when I was trying to get food for myself and didn't wanna go inside lol

bobdole145

there's two CFA by me in reasonably busy districts (hospitals, mega-commercial, residential) that are absolutely dead at almost every hour of the day now. I used to plan ahead by ordering on the app and triggering it that I was "there" when I was 5-8 minutes out to game it, now it doesnt even matter I can roll up to the drivethrough with zero queue and no one inside.