CFA

harrison_wintergreen

Reddit will give you a lot of nonsense on this topic, and they will rarely support their position with actual data. notice how nobody other than me provided any links or data to outside sources of information. additionally reddit skews very young and suffers from 'recency bias', in assuming the last 10-15 years with investing predicts the next 10-15 years. but that's rarely the case. investing strategies are typically successful for a period of time, then things change and the old regime gets stomped and a new things is more successful. there's a good reason many active managers take dividends into account when analyzing companies. >for younger investors, do dividend stocks really offer any meaningful advantages compared to focusing on growth? over the last 40+ years, dividend paying stocks within the S&P 500/VOO outperformed the non-dividend paying stocks by a wide margin: https://wealthcapitalist.com/wp-content/uploads/2018/07/divi_non_divi.jpg the best performing stocks that were in the S&P 500 from 1957 starting date to 2005 were all dividend payers. see the list on page 24: https://r.jordan.im/download/investing/siegel2006.pdf Yes. The PDF you linked is the 2006 CFA Institute article *“Long-Term Returns on the Original S&P 500 Companies”* by Jeremy J. Siegel and Jeremy D. Schwartz. The page labeled **24** in the journal contains **Table 4: Returns of the 20 Top Survivors, March 1957–December 2003**. ([Jordan][1]) The stocks in that first table/chart are: 1. Altria Group (Philip Morris Companies) 2. Abbott Laboratories 3. Bristol-Myers Squibb 4. Tootsie Roll Industries 5. Pfizer 6. The Coca-Cola Company 7. Merck & Co. 8. PepsiCo 9. Colgate-Palmolive 10. Crane Company 11. H. J. Heinz Company 12. Wm. Wrigley Jr. Company 13. Fortune Brands 14. Kroger 15. Schering-Plough 16. Procter & Gamble 17. The Hershey Company 18. Wyeth 19. General Mills 20. Royal Dutch Petroleum Notice there are no tech stocks on this list, despite the importance of IBM, AT&T, Burroughs, Wang, Xerox and other tech stocks. what's your definition of 'growth'? Growth stocks like SCHG? 'growth' means 'the company's profits or revenue are growing faster than peers', not 'the stock price grows faster than other stocks' ... sometimes yes, other times no there is ample data showing dividend paying stocks can offer superior long-term results. there are several reasons: - dividend-paying stocks tend to skew towards value stocks, and value tends to beat growth over the long-term. - dividends tend to indicate profits and free cashflow which are good things for investors. - dividends tend to come from more mature, stable and boring companies which means the stocks is more reasonably valued or priced and less subject to hype and trends, all of which are good for investors. - dividend stocks tend to be more stable in downturns or long bear markets, so they win more by losing less durign major crashes. the data is summarized here: https://www.tweedy.com/managed/wp-content/uploads/sites/15/2021/03/HighDividendYieldReturnAdvantageMNGD.pdf

imustbegthequestion

Dakar CFA. ECOWAS. SAHEL PRINT OUT I WILL BUILD THE WALL. JE PARLE FRANÇAIS. SHUKRAN. JO NSK. U/IMUSTBEGTHEQUESTION.

NoteLegitimate4844

A lot of institutional ETF traders will tell you that the biggest mindset shift is realizing that **ETF volume is often the least important liquidity metric**. For resources, I'd start with: * [BlackRock ETF Insights]() * [State Street SPDR ETF Education]() * [J.P. Morgan ETF Market Structure Papers](https://am.jpmorgan.com/us/en/asset-management/adv/insights/etf-insights/?utm_source=chatgpt.com) * [CFA Institute ETF Research Articles]() The framework I'd focus on is: 1. **Primary vs. Secondary Market** * Screen volume is secondary market liquidity. * Creation/redemption capacity is primary market liquidity. * A $10M ADV ETF can sometimes absorb a $100M trade if the underlying basket is liquid. 2. **True Liquidity = Underlying Liquidity** * For broad U.S. equity ETFs, underlying liquidity often dominates. * For EM debt, bank loans, high yield, or thematic products, the ETF may actually trade more efficiently than the basket. 3. **Spread ≠ Trading Cost** * Quoted spread * Market impact * Creation/redemption costs * Tracking risk while executing 4. **Watch Premium/Discount Behavior** * Especially during stress events. * Understanding when arbitrage mechanisms tighten or loosen is valuable. One practical exercise: every time you're evaluating an ETF substitute, ask: > That question tends to move the analysis away from ADV and toward basket liquidity, AP capacity, market-maker competition, and creation unit economics. Honestly, if you already have Bloomberg and access to a trading desk, I'd spend as much time as possible listening to ETF traders explain *why* they routed a trade a certain way. The jump from textbook ETF knowledge to institutional judgment usually comes from seeing real execution decisions rather than reading more theory.

InevitableSnowDay

A CFA would know that you do have to change the roof on your portfolio - it's the underlying company of the shares you own that's doing it. Do you think that McDonalds has some unlimited cheat code that gives it free roofing?  And in most cases, you DO have to pay taxes on your portfolio. As you stated a 'well diversified non correlated portfolio' will likely include both dividends and fixed income payments. Surprise, those are taxable.  The reason you aren't taught about RE as part of your CFA is because you cant charge AUM fees for someone's rental property.  You might want to go get some real world experience 

SaucyCouch

Hey dude, I have a bachelors in finance and passed 2/3 levels of the CFA. All academic data says that the stock market out performs real estate by a significant amount. You don’t have to change the roof on your stock portfolio, you don’t have to pay taxes every year on your portfolio. The only difference is in terms of leverage, you can borrow 95% of the value of your RE investment. But nuts to knuckles a well diversified non correlated portfolio will yield higher returns on average than RE investment

Last-Recipe-4837

bro wrote a whole CFA thesis just to break even 💀😂

shabooya_roll_call

2 levels of CFA? What’s Chic-Fil-A got to do with anything?

jhayesxvx

Isnt this exactly what some BDCs do as a business model? They take on debt through loans or issueing corporate bonds, then take the capital and do equity (stock) investments in businesses they think will return above their interest rate. Youre trading with the market on capital allocation, by taking that loan youre essentially saying you can allocate the capital more effectively than the interest rate has given to you for your credit risk. Business loans are a real thing, but are your stock market returns consistent and large enough to pay back both principle and interest? Maybe. For some BDCs they are. Buying the market without the kind of due diligence a full time equity/CFA analyst does at a BDC seems very risky.

AdOk3638

Bers talk about ‘valuation’ like they’re CFA gods, then panic sell their puts the moment SPY moves 0.5% against them. LMAO🤌

randomthrowaway9796

Zaxbys, CFA, Wendy's, cookout, sonic. The first 2 are slightly more expensive, but all of them are leagues better than McDonald's

Flaky_Mark2946

lmao the chicken video guy with CFA credentials is probably more qualified than half the analysts on CNBC these days your scenario C logic is unfortunately pretty solid though - markets always seem to find way to maximize pain for regular people while making rich folks richer. been watching this play out in restaurant industry where everything gets more expensive but wages stay basically same. customers keep coming but they're definitely feeling the squeeze also respect the tobacco play, people always gonna need their vices when everything else goes to shit. might have to look into that CATL position too since you mentioned it good luck with the positions, hope you're right about the blast off even if it means we're all gonna be living in cardboard boxes worth 2 million dollars

LiftUp22

Well that ain’t me. As previously stated I’m doing well. I know how to play the game but it took YEARS of reading up on financial history, equity valuation, studying for the CFA Level 1 exam and acquiring my SIE to figure it tf out. It shouldnt take all that just to afford the basic necessities of life.

I_Am_Dwight_Snoot

Yea fast casual is a pretty solid value. I'm surprised CFA does so well still. It isnt even a top fast food chicken chain anymore. Bojangles, Zaxbys, Cane's, and even Popeyes are better food or better value.

GatorBo69

Oh damn, good for you!! I didn’t get into Fundrise until 2024 when a friend of mine recommended it to me to diversify my portfolio. I put $10k I to evenly split among the 3 portfolios they had and after two months saw the returns on the Innovation Fund and then put another $40k ALL into the IF. Smartest decision I ever made! And what’s ironic is Karl, the guy who recommended Fundrise said he had told over 300 ppl about it and I was the only one to pull the trigger. I had just been looking for REITs to go along with my allocating of 5% of my portfolio to Gold & Silver American Eagles that I’ve been collecting since 2012. Had to get a bigger safe bc I have over 10,000 Silver Eagles and 500 Gold Eagles. That’s an investment that I’ll never liquidate and just pass on to my children bc they have already given me a 1,000% return and I like having something physical that I own that will never lose value, nor have to pay taxes on. If you have over $1m in your portfolio I HIGHLY recommend Fisher. Everyone talks about their “high fees” of 1%, but that’s nothing when they consistently return 25% every year and I’ve even had three 30%+ years out of 5!! They invest in individual stocks so their isn’t any expense ratios which in a way offset the “fees” from ETFs. In 2020 and 2020 they strategically entered into hedging positions at the right times and still beat the market by 8%!! Great personal service as I have my own “team” that I can talk to whenever I want but we typically have a quarterly call for them to update us. It’s really nice having someone control all your assets so you don’t make any emotional moves, something I had done prior to moving to them and prob cost myself close to $500k in the 5 years previous to switching to them, not necessarily in losses but in potential gains by exiting the market and trying to time it. They believe in a DCA approach but are pretty fucking brilliant and I have never come close to getting better returns than them. I beat the market, but they CRUSH the market! I keep $100k in my high yield savings account so I always have liquidity should I ever need to access it bc I don’t want to ever take any money out of Fisher until I retire. (They use Fidelity so you can always see the moves they make) The best thing is they get to know you and your family, make recommendations but I told them to “crush it and don’t hold back” so they’re pretty aggressive with my portfolio. They helped to fully fund my two kids (6 & 4) 529 College plans, and are truly the best decision I ever made in my financial life. I can self teach myself and watch YouTube videos until I’m blue in the face, but they’re true professionals. And there is a difference from a CFP and a CFA.. the latter is like having to graduate from law school where the former is like passing a GED. They know their shit.

Cool_Ad_5101

Sorry to hear that. When I was studying for the CFA level 3 exam a lot of it was proper portfolio construction and dealing with systemic vs unsystematic risk. Never put your eggs in one basket. Hopefully this still works out for all of us and you have given yourself something to think about for the next sector you get excited about. Good luck to us all and hope our bags disappear into gold sacks

Deep_Collection5914

haha... so many people don't understand exactly how long getting really good at options can take! I got my CFA in '04 and thought I was officially smart suddenly... threw $30K into an options account. it was gone 4 weeks later. was divorced a year after that haha. 😉 20 years later though, I do ok though... Glad you buttoned it down, buddy.

Premium_Lover

OP, listen to this person. Watch Money Guy videos. They are CFA's who talk about lifelong strategy with money management. If you feel like you want people like them to give you personalized advice, then you at least have a better picture.

icydragon_12

Eh I've worked in fundamental equities analysis and investment banking. TLDR; traditional finance is not ready for it. Quants have been using AI for a long time. LLMs are so bad that they're useless. I got really into AI around covid, because I needed to create something to help me trade derivatives and price them appropriately. This was before the LLM craze. If you dig into the architecture of AI, the truly incredible thing about the modern models is that they can take observations of multiple inputs, outputs, and are able to train on these to make accurate predictions (if there is a linear, non linear, temporally delayed relationship). In other words, if there is a relationship between x number of variables, and those variables affect something you want to predict, you will be able to do find a modern "AI" model that outperforms traditional models. This is, for example, very useful for learning how to price derivatives, which, contrary to what the CFA might teach, doesn't actually follow any obvious formula whatsoever. Or you might have a lot of data like.. Oil storage, price differentials, volumes shipped on certain pipelines and a thousand other variables, you want to see how well that predicts stock prices. Is this useful? I think so. But traditional finance has not caught up to it, and quants have basically been doing this for years. I've tried to show this kind of stuff to my colleagues, and honestly it takes like 4 hours just to explain how it works. Then comes the next problem: because the relationships are non-linear, and can't be turned into a basic formula, portfolio managers don't want to use it. which is somewhat reasonable. You cannot go to an investment committee and say that the reason you want to buy an asset is because you created some insanely complex model that tells you it's a good idea. If you mean using LLMs. No. Go look at like.. The FinDER benchmark. 9% correct. LLMs failed epically at reading financial filings. They lie through their teeth and they are utterly useless.

H34thcliff

Without a doubt. Source: me, an investment analyst at a large wall st. bank with a CFA and coming up on 20 years of experience.

Alprazocaine

I love it so much I registered for CFA level I. No passing it without a love for the game. And maybe a little insanity

Dumguychs

A sit down with a CFA would help, too many factors to pinpoint the details, but it seems like you have a good head on your shoulders and are "playing from strength" keep it up and dont sweat the small stuff.

lithe_silhouette

Yes, he still calling the top every day. You have pros like Mark meldrum who built and sold a training program for CFA and wrote a bunch of books on options saying you can't predict where spy is going and then you have jloc on x betting 200k on spy weekly puts based on lines he saw on a chart even though he can't afford to pay his bills.

BlueEdenProject

Stock investing is extremely difficult, you need to be CPA and CFA to just get started. I made 500% in 1.5 years. Do you think that’s easy?

RagingBearBull

These vesseles are regarded. They just need to fly the CFA flag and the US will let them through

WailingWarbler

# Scenario 1: The "Cypress First" Launch (Most Likely) In this scenario, the management team executes their plan in two distinct acts. * **Act 1 (Immediate):** The halt on **CHY-H.V** is lifted with the announcement of a "Qualifying Transaction" with a major gold mining asset. The stock likely undergoes a **consolidation (e.g., 5:1 or 10:1)** to elevate the share price to a "professional" level ($0.50–$1.00+), clearing the way for institutional capital. * **Act 2 (Follow-up):** Once Cypress is trading successfully as a new mining entity, the focus shifts to **CFA-H.V**. They then move to clean up Clear Gold, consolidate *it*, and either find a second mining/tech partner or execute a spin-out of a secondary asset. * **Why this is likely:** This explains why CFA is not halted. It isn't part of the "Cypress Deal." It is a separate asset sitting in the "fridge," ready to be "cooked" once the Cypress deal is done. # Scenario 2: The "Satellite Spin-Out" (The Multi-Asset Play) This happens if the "private mining partner" is actually a **larger company with multiple properties.** * **The Structure:** The main, high-value mine goes into **CHY-H.V** (the lead vehicle). A secondary exploration property or royalty package is "spun out" into **CFA-H.V**. * **The Benefit:** Shareholders of CHY might receive "dividend shares" of CFA-H.V. * **The Market Reaction:** This creates an immediate "two-stock" ecosystem. You hold CHY for the main gold production and own CFA as a high-upside exploration play. The management team retains control of both, creating a mini-conglomerate. * **Why this is likely:** It allows them to bypass the dilution of a 3-way merger while still providing an "asset" to Clear Gold shareholders. # Scenario 3: The "Mega-Rollup" (The "Clean Sheet" Merger) This is the "big bang" scenario where **CHY, CFA, and the Private Partner** all disappear into a new, single legal entity. * **The Structure:** A Plan of Arrangement where every shareholder of CHY and CFA gets shares in the "NewCo." * **The "Clean Sheet":** This is the cleanest way for a private company to go public. They effectively "wipe the slate" of both shells, removing any historical debt or legacy baggage. * **Why it's less likely right now:** If this were the case, **both shells would usually be halted simultaneously.** The fact that only Cypress is halted suggests the partner is only interested in the Cypress listing *right now*. **1 CHY share = 1 NewCo share** and **1 CFA share = 1 NewCo share**, then your theory about "equalization" was **100% correct.** They were effectively pegging both stocks to the same future value.

Hot_Lingonberry5817

According to the CFA-institute, short-sellers have had extraordinary difficulties post the GFC 2008 era, primarily due to the change in monetary policies globally, which just pumps everything up as soon as there is a scare of some sort. Point is that Burry's been wrong a lot of times ever since, he's had warnings om ETF bubbles due to passive investing and a lot of other things. In fact he's been wrong so many times that all investors withdrew their capital from Scion Capital which made him close down the fund recently, and start writing on Substack.

Ozqi

CFA spicy chicken sandwich has me sitting on a public toilet at work with my asshole legit on fire oh my fucking god I might have to leave work early. My manager is probably asking where the fuck I’ve been for the last 20 minutes while I shed my intestinal lining in the bathroom. NEVER AGAIN.

ir1shman

And to think people spend YEARS of their life to get a CFA designation when all you need to be a successful investor is set Alerts to “on” for 🥭’s truths and trade accordingly.

Valkyrie_Skuld

No they’re just interesting. Like you can buy the whole set of them on Amazon. You don’t have to actually be a CFA

music_is_gud

Anything specific? Also I don't think you really need CFA to be a really good trader. In fact, it could be detrimental

JohnF1945

The analyst at JP Morgan apparently takes his CFA designation seriously. The CFA comes with a code of ethics.

JohnF1945

The reason that the JP Morgan analyst is warning, the Tesla may crashed. 60% is likely because he takes his CFA ethics. Standard seriously, unlike many of the boosters, looking for investment banking fees.

garden_speech

> whats the difference between GM and CEO of one person operation other than honorific? All I am saying is that it is trivial for a business owner to make sure they qualify for a 401k. At least that’s how it looks to me, but I’m not a CFA or CPA so maybe I’m Wrong

Competitive-Ant2876

Lmao I have a CFA level 1, the hardest thing you can achieve in the investment space besides level 2 & 3. Your take goes out the window when you’re in a micro cap stock, on an illiquid exchanged, in a sector reliant on government policy. If you held long term in this sector your easily down 80 plus percent. To break even on that you need damn near a 400 percent gain. Loss & gain is non linear. I have invested on much longer timeline than most, and in the broader market. Ive traded this sector 4 times each time profitable, the sector is headline driven and easy to play both sides cause investors in the space. So puts are pretty easy to time.

Santarini

My wife is a CFA and has 600k in a savings account. I'm like da fuq are you doing!?

deepfocusmachine

“Actually my names Jiang and I do speak English. Jared likes to say I don’t because he thinks it makes me seem more authentic. And I got second in that national math competition.” -Ted Jiang, CFA

chuastan

I need to start taking another course on sales or something. CFA got tossed out long time ago

phatpham1803

Will BlackRock hire me if I have a CFA level 1 ?

aolmos97

VHCOL, CFA, Masters and work in the industry but I live below my means to save a high %

weednspacs

I mean that’s not true. The analyst arm of those banks is fully separate and firewalled from the investment banking arm. If you’re a CFA and provide biased coverage you can lose your license and not be employable anymore. Most positive ratings are due to the analysis being on growing companies. There are plenty of companies with negative ratings, but probably not stocks that most people look at buying, because they’re dying.

m0n3ym4n

Used to be a new entrant had to convince countless highly-sophisticated investment analysts why they should recommend their security. This is not your local home remodeler who sells Anderson windows because the rep took him to the strip club. Ever had a casual conversation with a level 3 CFA? And now SpaceX and whatever dogshit comes after it has exit liquidity to the hills thanks in large part to reddit and the proliferation of index funds. But no fees, right?

Ceyenne18

You have come to the right place. All of us are CIMA, ACCA, CFA or CMA certified.

chuastan

If PTOUS lied and in all seriousness- I think I have to write in the CFA to revise syllabus. With immediate effect as an honorable member they sold me

chuastan

Thank you but my fishing rod cost me 80k. Worms 20k. Which is far game from investing- but such mistrust does not reflect well in. When I passed my CFA c.15 years ago on fair and transparent markets. I have been duped!

Anxious-Ad2229

Idk if that’s a good thing or bad thing haha but I love perspective so if you have any counter arguments to some of the stuff I say I’d love to hear it. I believe Perspective helps someone become a better investor as long as you’re open minded about possibly being wrong. I comment a lot about cannabis, I actually keep up to date with most filings, and bills that are introduced but I do comment about other opportunities in the market here and there and how market mechanics are at play some times. I’ve invested for a long time now and actually have my CFA level 1 but it doesn’t make me right about everything.

thewheelsonthebuzz

Fast food historically was low margin high volume. Somewhere around Covid they decided to become “premium” and swap to low volume high margin. That does not work for fast food. I’m sure the marketing people working at these organizations don’t even eat their own food. They have no context or can even relate to the core customer. Some have started calling customers “users” and their food “products”. It’s a poor play at a tech jargon. Sure costs of things has gone up, but CFA can make it work and close one day out of the week. Every time I drive by one, the lines are full! High volume, low margin. That’s the secret sauce.

ComeAtMeBro9

More and more restaurants are closing. Some in my area have been here 20 years going under. Cost of materials (amongst other things) are going up. When they try to pass that on, the consumer doesn’t want to pay it. Sitting down at even a BBQ place here has gotten absolutely insane. If I go out, I have one Mexican restaurant I visit once a month that’s reasonable. I go to Zaxbys or CFA for fast food these days, but that’s it. Eating at home a lot more.

Feltzinclasp5

Yeah sorry, I'm a CFA and PM means private market to me. You can dissociate my comment based on that

Feltzinclasp5

Analyst, CFA

DoubleSkew

/r/wallstreetbets comments are CFA ragebait

Fearful-Cow

Writing my CFA, figure i can argue i can skip the ethics portion entirely.

Ill_Tower7660

Jason Tong as CFO is a strong pick. CPA, CFA, 15+ years with TSX/TSXV/Nasdaq companies, Deloitte background, and solid CFO experience. Someone who knows how to navigate growth-stage mining finance.

misterbluesky8

This is good advice for every single person posting “loss porn” on this sub. 99% of people can’t pick stocks to save their lives and can’t time the market to save their lives. This is why r/thetagang cleans up every year.  I lost $2500 on my first options trade and just bought indexes for a few years in my 20s. Didn’t touch options again until I took CFA classes and had enough money to afford a $10K loss. 

ediblepepsi

Things they teach you in CFA L4

Pristine-Slide7990

Yo good background. Equity research + writing combo is solid. The CFA qualification definitely adds credibility. Only tip - make sure you've got strong data visualization chops. That's where most freelancers leave money on the table

ToughAsPillows

I’m in the industry and systematic PMs are absolutely a real thing. Whether this guy is or not is up for debate but tons of asset managers (type of firm) have systematic desks with portfolio managers. “Systematic” means signals/strategies that are automated or at least semi-automated. > Nobody is responsible for both long and short positions in a portfolio What are you talking about? Long/Short portfolios are very much a real thing; the two often go in tandem. It’s not like one guy is managing the longs and the other guy is managing the shorts. Long/Short is just in contrast to Long-only. Oh, and being a CFA has nothing to do with the industry explicitly and you should know that. That said, you would’ve learned this in your exams.

Feltzinclasp5

>I managed large systematic long/short portfolios for global asset managers. No you don't. Stop lying for fake internet points. I'm literally a CFA and that sentence alone doesn't make any sense. You manage a portfolio for asset managers? Huh? Also, "systematic" management is not an industry term. No idea what that means. Nobody is responsible for both long and short positions in a portfolio. Anyway, I don't even know why I'm wasting my time making this comment. This sub is such a cesspool lmao

Feltzinclasp5

CFA here. Save yourself money and a lot of time by just accepting that the market is unpredictable. Technical analysis and "stock trading signals" do not exist. People will argue they do, but they don't. Naturally, when you have a large subset of data, people will try to recognize patterns.

Feltzinclasp5

CFA here. The bottom line is RKLB is a proof of concept stock that got a ton of hype (and money) on the backs of investors who hope to be the first in a new wave of cellular technology. At this point there is no proof of ROI, but there is potential which got priced in.

10xwannabe

Well if you were then you wouldn't need to ask would you. By the way I've talked to CFA who had NO clue nor read the BHB or BHS studies. So you wouldn't have been the first.

long_time_no_sea

buddy i'm a CFA charterholder, i'm pretty sure i understand

Samjabr

You should get your CFA license and share your knowledge

SchwiftySchwifferson

Studying for the CFA

ExcelAcolyte

I have a CFA and work in the industry :P

nickOfJupiter

Nothing you said addressed the context of my message concerning the market wizards and some of the best traders of all time who are purely TA. Why dont you look at the US Investing Championship where every single year they are purely TA traders out performing the market, all of which go on to manage money. The entire Investors Business Daily org is built on TA. Schwab has dedicated TA analysts for options everyday on Youtube. I could go on, but you're just a smug know it all condescending prick. Also, technical analysis is on the curriculum for both the Series 7 and the CFA, unfortunately astrology isn't though. Jesus read a book Muhammad is the most popular name on Earth dude - Jonah Hill voice

WolfOfAfricaZLD

Depends a lot on your personal investing philosophy. Personally I would suggest DCA -ing into the s&p500 or some similar index until you have that figured out. However, your GTA investment is probably already priced in and BTC has no quantifiable inherent value. Imo I'm not a CFA so keen to hear other posters opinions.

CraneEternal

She thought she was smart, tried to get slick, she bust a little chuckle, And she got smacked by the markets’s gold finger knuckle. Should’ve hired a CFA.

craig_hoxton

Get this man a CFA!

KissMyRichard

Maybe he's got faster swimmers than JPOW, but I'm not a CFA.

Feltzinclasp5

CFA here. Some AI is useful for analytics and extrapolating data, but when it comes to actually picking stock it's mostly garbage.

Feltzinclasp5

Hello OP, I'm a CFA/CFP/CIM managing a pretty large capital portfolio. I'm not a psychologist, but I can give you some insight behind the psychology of money after having dealt with thousands of people from various backgrounds. Although money can invoke strong emotions, it is ultimately a tool of comfort. Having it won't make you happy, and not having it will not make you sad (as long as your basic needs are being met). Some of the richest people I've ever met are the most miserable. Some of the happiest live paycheck to paycheck. It sounds like whatever is going on in your life will not be solved with money. But one thing I've always tried to remember for myself is that; there will always be someone with more than you. As is often quoted in this sub "comparison is the thief of joy". The fact you even know what SCHD is and are interested in getting dividends puts you ahead of a large portion of the population. Most people have no investments at all, and even less understand what an ETF is. There's probably billions of less fortunate people who would risk their life for a small chance of living yours. Don't take it for granted.

Panthera__Tigris

Former Investment Banker here. There is a hierarchy of finance professionals and pension fund's are nowhere at the top. Actually, might be closer to the bottom of institutional Investment Management. The best guys at my firm were quantum physics PhDs. CFA L2 is intern level stuff. I agree that markets are their own beast and no one can make super normal profits. But come on. Pension funds lol.

Feltzinclasp5

CFA/CFP here. You're going to get a lot of bad advice on Reddit. Don't put the cart before the horse. It's great to have goals but you need to be realistic as well. I'm not sure what tax rates are in Australia, but saving 70k on an 86k salary doesn't sound right. I would wait until you start receiving paychecks and then create a reasonable budget. Then you can start to DCA into a low-cost ETF. Stick to a simple strategy and let compounding do the work. Don't time the market. Ever. Seriously. It's the #1 mistake all investors make because people greatly overestimate their abilities.

Mozad1

I can understand where OP is coming from in making this statement. I've spoken to 3 different private banking portfolio managers all of whom didn't know how BTC worked but confidently stated it was going to fail. Add to that a CFA, an accountant, and multiple swing and day traders. BTC has flaws so criticism can be justified But when so many people are so confident about it's failure without having any idea about how it works, makes me think I'm early. .

Feltzinclasp5

CFA fund manager here. Just wanted to chime in for what it's worth and say that I don't know a single professional money manager who thinks BTC holds legit value as an asset. When people complain their diversified risk returns aren't enough we have an inside joke "maybe you should buy Bitcoin".

Feltzinclasp5

CFA/CFP here. Build out your short term funds first (emergency savings + any short term purchases) and then buy index stuff with your long term

KissmySPAC

"I don't know anything" is right. Stop spreading nonsense. Ur not a CFA.

ndwillia

Technical analysis is not about predicting the future or being “accurate”, which is the common misconception. When used properly, it is a tool used to **mitigate risk** Referring to it as “tarot readings and voodoo magic” perpetuates the idea that it is not useful. You gotta be careful with carvana and understand the history of the payment in kind agreement they have with root insurance (ROOT). It has been a meme stock since like forever, and they’ve been able to float earnings for quite some time with creative accounting surrounding the aforementioned payment in kind agreement. I agree with your bearish thesis and I think carvana will go bankrupt/cease to exist by end of 2027, but it’s very easy to lose a lot of money very quickly with puts on this stock if you aren’t hedged appropriately. **You don’t have to say “I’m not a financial advisor, this is not financial advice” to cover yourself from liability. The only people who can be legally held accountable for giving financial advice are CFA’s. You or I can recommend anything we want on the internet without fear of repercussions. The very existence of this subreddit is a testament to that fact (if individuals like yourself could be liable, this subreddit would not exist as it would be an even bigger liability to Reddit as a publicly traded company. Cheers

n2_throwaway

The problem is, no amount of retail cashflow will ever stabilize Bitcoin. Until large commodities contracts or swap lines are issued in Bitcoin, no amount of retail degen trading will offer the same liquidity that dollars, euros, pounds, or the yen offer. I think the bull thesis for Bitcoin would be if any country starts to actually back bitcoin by holding onto a Bitcoin treasury and managing debt using Bitcoin. Candidate countries could be countries that don't already have a fiat currency of their own, like users of the CFA or El Salvador (which was forced by the IMF to stop accepting as legal tender.)

danisanub

Yes, I have over a decade of investment sales experience (institutionally) and most job specs say preference for a CFA or CAIA

danisanub

If you are serious about a career transition, look into the CFA or CAIA programs. The CFA is brutal, CAIA is more manageable and can be acquired within a year.

me_no_gay

Call Ea-Nasir (he has PhD in Mesopotamian Economics and CFA) to manage your copper portfolio

Competitive-Ant2876

Lmaooo you don’t know what a CFA is also your triggered man let’s take a breather it’s not that deep

RealEstateWindsor

CFA Level 1 means jack shit, I didn't ask for your resume kiddo. I also own zero Tilray. 

Competitive-Ant2876

Bro what lmaooooooo you must be holding heavy bags to be this triggered. Check my comment history. I come from a financial background and have a CFA level 1. I’m not Warren your correct but I’m also not delusional & im pointing out the obvious. I trade this sector and the spy and hold long term investments in sectors I understand and most my portfolio is allocated to dividends, & reits. I just recently rotated 20 percent in to energy & infrastructure. I’ve triggered a Tilray bag holder though lmaoooo.

Feltzinclasp5

CFA/CFP here. XEQT is fine but it is full equity exposure, so you should figure out if that aligns with your personal risk tolerance. For gold, and for investing in general, try to avoid fomo. Yes gold is the hot ticket item right now but don't buy it just for that reason. If you really want to buy at this price I would buy KILO. They have physical bullion, it's currency hedged, and the fees are low compared to their competitors.

Perfect-Obligation60

Ty, also saw that you listed WACC and discount rate looks appropriate. Great work Mr. CFA!

Revfunky

It’s always nice to hear from the belly of the beast. This is value investing at its core. BRKB-PSHZF-COPY utilize comparable strategies. I’m really high on COPY as they combine insider buying with value. Thank you for posting. This more than the mere flotsam and jetsam we normally get in this sub. I do have some questions if you could oblige me. Do you use a trailing stop on the holdings? If not, how is the exit decided? Do you have access to a Bloomy? Do you utilize any option strategies? LEAPS? Do you use any technical analysis? CFA at 19. Most impressive. These are tried and true strategies over time. NAV arbitrage works. Ultimately price is the only thing that pays. Allocating part of the treasury into Bitcoin sounds insane to me. You’re an analyst. What is there to analyze in Bitcoin? There are no earnings, rent, income, sales, or dividends.

Himothy8

I’m doing my SIE right now, and this summer break I’m studying CFA L1

Himothy8

You have your CFA level 1 at 19?

Feltzinclasp5

Sorry about your Mom. As a CFA let me give you some advice. Read Eugene Fama's efficient market hypothesis. Then read it again and again, until you understand that you have no competitive advantage to trade against the current market sentiment. Assets are not being diversified outside the US as of yet.

Feltzinclasp5

CFP, CFA here. Are you baiting? Nobody is forcing you to use a 401k. For some people the benefits are marginal, but there absolutely are advantages to using one. The ability to defer taxes on income is a powerful financial planning tool.

Napster-mp3

I started getting a large fruit bowl instead of fries with my sandwich at CFA because I matured

Chrg88

Major cheat meal tonight. Spicy chicken deluxe and a couple chicken tendies with CFA sauce

0lawy

For those who have studied or are studying finance and economics: Did the CFA program help you gain mastery in options trading or the stock market in general? If not, what resources or experiences helped you develop expertise in the market, and specifically in options trading? I’m particularly interested in options and want to focus on building my own wealth rather than pursuing a corporate career.

EthanRio

CFA isn’t worth the stress buddy work at Wendy’s

Guilty_Psychology_28

Any of you regards have your CFA? Is it worth it?

Feltzinclasp5

CFA, CFP here. Gold is half on my current portfolio and will likely stay that way for the foreseeable future. There are a ton of reasons to own gold at the moment. I bought at $2800/oz and people think I'm crazy for not selling at $3300, then $3500, then $4000..... Goodluck out there

Brilliant-You-7416

Do your due diligence on geeks of finance. When someone claims to be a CFA or have high level credentials, they don’t hide their identity unless there are reasons to hide it. Listened to their Discord live feed. It’s shady.

johnnylemon95

I started learning at university and then continued through various textbooks, my finance masters degree, CFA course, and various online resources and continuing professional development. If you’re just getting into learning about stocks and options there are very many great and free video series on YouTube that go through the basics. Spread your net wide and don’t wholly rely on a single source of information, as you can get stuck in someone else’s biases. You don’t need to go to uni to learn a lot of this stuff though. I just really enjoyed it. You can learn all this through online websites. Investopedia is pretty good for a basic understanding and is quite handy for you at the beginning as both a source of information and introduction to understanding things like derivatives contracts.