CFA

Jimmy_Trivette

CFA is fine because they're still predominantly in the south and they didn't alienate their core customer base though lol

Magnasparta1

Also idk if you mean you want a 300k balance or to get 300k from your investments but if it's the latter u REALLY need a CFA. There's a problem there. No one needs nearly that much AND it's unrealistic to a non-trader. That's 20% being used and not being reinvested. You could live the rest of your life in a other country without working AND be increasing net worth at the same time by just controlling spending.

Magnasparta1

Dividends probably not. Selling options. Probably, example. $270 UNH is around where Warren bought the stock. This stock already crashed. At 1.5M you can sell 50ish 12/18/2026 puts for 100k. You'll get the premium upfront. Cash secured puts will lock out your 1.5 million. But you have to kind of study and know what you are doing. The other problem is that usually you want to live below your means so that your remaining money gets reinvested and counters inflation. I would speak to a CFA and not strangers on the internet. Or study ALOT.

Competitive-Ant2876

I’ve been in the market since my senior year in HS reits, energy, some tech. I’ve been in cannabis for ever lmao. I have CFA level 1. Wanna bet we don’t get MAYBE anything till April? I’ll leave the sub forever. If I’m right you gotta cash app 1$ to everyone in this thread (not sub) so like max $182 bucks.

racer150

It’s called mosaic theory, CFA Level I, you should read about it.

Competitive-Ant2876

They will never be able to compete at scale. They are a “smaller” operator but do very well in the couple states they are in. This is talked about a great deal on water tower research podcast, oddly enough he said the same thing about a CFA friend liking it. lol.

Many_Easy

GRUSF (Grown Rogue) is a favorite cannabis stock from my CFA friend.

Emma_4_7

Unique seeing CFA-based frameworks adapted to crypto.

TheCuriousBread

Don't waste time with books and videos. Just take the Investment Foundation course from the CFA institute. https://www.cfainstitute.org/programs/investment-foundations-certificate Learn from THE school of finance.

SidonyD

Franc CFA I guess.

ReceptionFantastic25

Yes, he’s one of the most, if not the most, well known individuals that covers CFA materials across all 3 levels. Extensive knowledge in academia and industry.

HistorianSwimming291

You’re in wall street bets … the only answer is to YOLO ODTE calls on SPY and then post the result. If you want more conservative answers, you should go to the dividend sub. In all seriousness, if you’re unsure and want to get off to a good start with it, a financial advisor (A firm with a CFA on staff) can help you blend risk and max returns vs taxes. If you’re not going to manage it daily, putting it with someone that will manage it as part of a larger position may work for you.

Hypsar

Definitely. A senior financial planner/advisor will likely be a CFP while an analyst will likely be a CFA, two quite different certifications. And while neither are a walk in the park, CFA is quite a bit more challenging to get.

Fragrant_Western4730

Haven’t joined but reading their Trustpilot page and seeing employee reviews on Glassdoor made me genuinely curious. The CFA credentials add some weight.

Riccardo_Moretti

CFA principles applied to crypto.. that's all u need to know.

sleal

Not really, you don't even get a side and drink with it. I can get a large CFA combo for a dollar cheaper than the entree at Chipotle

False_Can_5089

It's not just being affordable,  but also providing good service. When you go to CFA, you're in and out despite how long the line is. With Chipotle, you either sit in line for 20 minutes watching then make online orders, or you order online, but it's not ready until 30 minutes after they said it would be. I would go there if I could just get a fucking Burrito in under 10 minutes.

poorat8686

You’re losing it bud, this fact is gonna send you over the edge, I’m gonna go buy Starbucks coffee for lunch today WITHOUT a CFA, because I’m green today and have $3

poorat8686

Buddy you have a CFA, you went to business school. You can keep being salty and calling me stupid but at the end of the day you’re a chipotle bag holder and that will forever be the funnier and more insulting than anything you can say to me. It’s even funnier because you have a CFA lmao. I’d just take a lap here if I were you.

bitorontoguy

I...never said I went to business school. You...don't know what the CFA designation is either? Maybe it can go lower.

Keltic268

It is a quality control issue, I always compare companies to Chickfila, statistically it’s easier to get into an Ivy League school than it is to become a CFA Owner/Operator. They only add a new store when a new operator has completed training. As a result they’ve been very slow to expand across the US despite their popularity. Also they hold a lot of cash and don’t have much of any debt - LTV is like .1 or .2. Chick-fil-A has been in franchise business for twice as long as Chipotle yet Chipotle has 800 more stores.

poorat8686

Okay I’ll try to learn: Step 1 - Learn about stocks and business from a very serious business school ✅ Step 2 - Earn CFA Step 3 - Become a Chipotle baggy I should do this? Hey buddy congrats on the esteemed title, not the CFA, the new title you got today which is “long term investor”

bitorontoguy

Have a good one man. My CFA means I can afford to eat at Chili's or Chipotle if I want to today. I....obviously won't. I eat real food with my family instead. But it could be you too. You just gotta learn how it works, it's not so hard. It's really not so hard to learn it. How it works.

hellreddit394748

I will never understand why people invest in IREN or APLD over GLXY unless you are just trying to ride hype. IREN and APLD are both horrible compared to GLXY. Ask any CPA or CFA and 100% of them will say GLXY is the best company and it’s not even close.

Ok-South-9597

Here is a recent article by the CFA institute studing this exact question (top 10 or all 500), looking back across history, with a particular focus on 'times like this'. https://blogs.cfainstitute.org/investor/2025/04/02/market-concentration-and-lost-decades/ They conclude you will get worse returns and deeper drawdowns, and have a chance of a 'lost decade'. Figure 8: Top 10 equal weight 2000-2010 - minus 7%/year Bottom 490 equal weight 2000-2010 - +2.6% / year

Ordinary_While_5433

Following WSB has been more influential to my investment career than a CFA, especially in teaching me what NOT to do

ILoveWesternCenter

Every time I go to CFA and they say “my pleasure” I cream

Chad_Permabull_GOD

Dr Mohamed A. El-Erian, PhD, CFA, ex-PIMCO CIO, ex-Cambridge, ex-IMF, has said: The AI bubble is rational

pateyhfx

All my homies love Dr Mohamed A. El-Erian (PhD, CFA, ex-PIMCO CIO, ex-Cambridge, ex-IMF)

Frequent_Optimist

I always listen to Dr Mohamed A. El-Erian (PhD, CFA, ex-PIMCO CIO, ex-Cambridge, ex-IMF) for all my investing moves.

Chad_Permabull_GOD

**Dr Mohamed A. El-Erian, PhD, CFA, ex-PIMCO CIO, ex-Cambridge, ex-IMF, has said:** **The AI bubble is rational**

Chad_Permabull_GOD

**Dr Mohamed A. El-Erian, PhD, CFA, ex-PIMCO CIO, ex-Cambridge, ex-IMF, has said:** **The AI bubble is rational**

i80west

I retired in 2018 and paid a CFA advisor $600 to look at all my income and investment account balances and tell me if my investments were well set up well. He gave me some tips and a written report and we were done. It was useful. I've never used an investment advisor who charges a recurring percent of my assets.

InfamousShow8540

I'm in an adjacent boat. Already retired and have $800k of $NVDA $ $175 of $AAPL. I can't convince my wife to offload some of. But we do have bigger chunks in both $UOPIX for appreciation but no income and $QQQI for 14% dividend income paid monthly that we DRIP w/some appreciation. $UOPIX in taxable acct and $QQQI in IRA. Be aware that stock sales can impact your SS tax rate and your Medicare premiums. It's a difficult 3-legged stool balancing act. Definitely talk to your CPA/CFA& Medicare agent.

TheGayestScholar

Basically want Im asking is will a service to speak to a CFA at a business like Vanguard charge a customer 0.3% for what in in their Vanguard accounts or will they also ask for the value of your property and other assets to add a fee, because I would't want to pay 0.3% for my property value

Breathofdmt

Sure, in regards to the OP question you're right. I just built a platform for options visualisation tailored for futures traders. Greeks are very useful for trading futures, figuring out levels, what kind of environment the underlying asset is in, what's happening with the VIX, correlated instruments etc-- I have several months of records online of figuring out tick highs and lows for the futures market. Having witnessed this myself I think it's basically necessary to analyze 0dte-7dte for trading futures intraday I made a full options platform and only have CFA, MA Econ and 5yrs in the industry designing swap portfolios mostly, I'm not a quant and I think that's a moniker people give themselves to sound credible. Fair enough if you're employed by an asset manager or hedge fund. You just need to know Black Scholes in some detail Not trying to start an argument BTW - - my only point was that building a full options platform was a bigger task than I initially thought. But it is doable. If anyone wants to check it out for free in exchange for detailed feedback shoot me a DM. It doesn't have the live tape though so not relevant for the OP.

skylorelding

I love to shit on TA. But I don’t ignore that every fucking investment firm out there employ CMTs. But I also know that they are actually not regarded people playing with crayons and at least have finance degrees, CFA certificates and shit.

NefariousnessNo9643

NEW GUYS ----> Najarian brothers books. They wrote 2, if on budget get at least the newest one. Easy to understand and while they dumb it down for cnbc crowd on tv, the books themselves cover important territory. Andrew Keenes book is good too for newbs. Whatever happen to that guy anayways. I liked his energy in chicago pits You can also do all courses on OIC, CBOE, and OCC. Google search it, i watched all the videos and passed all the exams/quizzes yrs ago. Pretty sure it was all free. Do the very good courses free at TASTY trade learning center. Do both beginners & advanced. I highly recommend this. Overby - option playbook. 90% visuals and payoff diags but damn he crushed this book. I feel like this is a must own. Get hardcover Option alpha - free videos and courses IBKR campus - go to traders academy courses - free videos and quizzes Bloomberg market concepts - its a low cost course/ it has a decent section on options. If i ran a capital markets 101 class, I would make all freshmen do this before day 1. Just FYI Sang lucci - he was more active back in the day and his old you tube videos from 2013-15 on order flow sweeps and ATM weeklies on fangs are fun as heck to watch. I like his focus on tape and bc he was trained as a prop trader, he has good fun read on mkt microstructure. Think or swim/TDAM - free videos, covers need to knows @ learning center CME institute - free "all about options" course @ their learn center MID LEVEL ----> Spina/Sosnoff - tom a goat and chicago legend; concise book and zero fluff Mcmillan - get 5th edition of strategic investments. Consensus bible and weighs more than a cinderblock Natenberg - perennial favorite Hull - goat but dense ADVANCED/OTHER ANGLES ----> Mcmillan on options The option edge - very academic, but has its moments where it really loops in everyday stuff, like market makers and why Berkshire sells OTM puts. Content good - problem is they printed only paperback size 5 font so its basically unreadable without a magnifying glass. Podcasts - ally options playbook is the best (apple, spotify) Colin bennett - trading volatility / cool stuff in here that is not found elsewhere Jeff augen - he wrote 3 gems, all on amazon Trading option greeks - dan parsanelli. Well-scoped book How to Calculate option prices and their greeks - Ursone Intrinsic - mike yuen. Entire book about leaps on tech names during a bull cycle. For practical purposes, ch 5-10 are good and in plain language cover his actual trades; those looking for an actual trader perspective might enjoy this. Intelligent option investor - takes a value investor approach, covers lot of ground/key concepts Taleb - dynamic hedging - hard to find book / deep practical philosophical. This dude is smart!! Sinclair - he has 3 books i have yet to read BEAST MODE/FINAL THOUGHTS --> regarding exams...consider the CFA FRM CMT CFP CAIA CIPM CTP exams. All levels of all these exams touch the subject in some form or another. The first 2 treat it far more rigorously. CTP way too light a treatment, unfortunately. CMT focuses lot on vix. CFP covered the meat and potatoes better than i expected. Should you want the journal entries for how companies book stock comp/option awards, becker CPA far books really cover the must-knows. Pursue MBA - most top programs default to hull in the derivatives class & authors that both the FRM/CFA base their actual exams on. Adding this in case someone is looking at bschool/MSF down the road. Lastly, if looking for a gift idea or curious what it was like on the floor years ago, "trading pit hand signals" by carlson is one sweet as fk coffee-table book. Its true, the traders have seperate gestures for straddles and strangles. Best of luck! **quick update 4Q24 -** I realized CBOE has a free option calculator, it can be very useful during earnings season to adj theoretical price with different IV assumptions. OIC has one too. but i like the cboe one's simplicity - just an FYI!

sovlex

Put your money on bank deposit and go get first stage CFA. Do not invest anything anywhere till you get it.

AndreLinoge55

Having flashbacks from the CFA curriculum

Fork-in-the-eye

POET chart appears to be pointing upwards. Now of my CFA taught me anything it’s that up=good=buy

Secure-Fly6213

I'M SAYING. Also, you passed your CFA?? That's so impressive. Everyone who I know that's taken says it's unbearable...

One-Yard9754

That is interesting. I would expect they would have some consulting guys with CBV/CFA backgrounds advising them too…Ben targeting some small private companies?

Vegetable-Bug-9779

I've been there. 20k is not so much money, take it as paying for valuable experience. Making money with it would be a worse outcome as you would now be overconfident you can control the options casino without having proper knowledge and experience. Here is what you could do from now on to improve your situation. 1. You could start investing in index ETF - SPY/QQQ or another broad index. This does not require investment analysis knowledge and decision making. Historically those indices have been growing >10% compounding in the last decades. The only thing you need to understand is that this is a long term strategy, meaning you could make money after years and decades instead of days and months. Which is fine. 2. Investment discipline. Here is what I do: Every month when I receive my salary I plan and optimize my expenses. Let's if I have $3000 salary and $2500 expenses. In the day I receive my salary I would immediately invest the $500 and spend after that. If I spent only 2200 I would invest the other $300 that left. This is a very effective way to build wealth on low income. 3.Educate yourself. If you have started with options you are obviously interested in investing. Start learning casually in YouTube. Here are some topics - rule of 72 and the power of compounding, how to read earnings report, how to read macro events like interest rate or unemployment change. Start checking different creators and how they do stock analysis, remember to check ck different sources, not just one. If you continue to be interested you could look into CFA certificate and pursue a career in the field. Again, what happened to you is not necessary a bad thing. It is na expensive lesson that will remind you of options. Been there, done that. Good luck!

sportingpool

when one Matthew Friedman, a CFA at a sell side house, is quoted to explain stock prices, you know what you are in for. rddt shouldnt be fooled, and not buckle in negotiations. its more valuable than all these silly randomly guessing bots combined. the price for openai accessing reddit data should go up now, to include a penalty for this head fake

sportingpool

when Matthew Friedman, a CFA at a sell side house, is quoted to explain stock prices, you know what you are in for. rddt shouldnt be fooled, and not buckle in negotiations. its more valuable than all these silly randomly guessing bots combined. the price for openai should go up now, to include a penalty for this silly head fake

Happy_Discussion_536

>AI can now pass the hardest level of the CFA exam in a matter of minutes. I know CFA's are not very smart but still bullish lol.

throwawayfinancebro1

Passed sie, series 7, 63, 86, 87, and am a CFA level 3 candidate. You pretty much need a phd to be competitive as a biotech analyst. For pretty much any other area of healthcare it’s not necessary but can definitely help. I’m not exactly sure what you mean human based science background, do you mean kinesiology or something? By far the most important thing for a new junior analyst is work ethic. By far.

ck1p2

I’m a PhD candidate in Pharmacology in the last year of my dissertation work. I’ve just taken the level II CFA exam and my goal throughout my PhD has been to get into a biotech/biopharma equity research role. I’ve been trying to improve my financial modeling skills on my own, but I find it difficult to translate some of what I’ve learned in the basic modeling practical skills module in the CFA program into a biotech context. Particularly for the company I’m interested in which is pre-revenue. Do you have any advice for improving my modeling skills in this context specifically?

AroundtheTownz

What degree(s) and certifications (like a CFA) do you have? Regarding your point on: >We also know all their products incredibly in depth I have a finance degree and a biomedical science degree. Do you think having a (human based) science background makes an analyst better at understanding the health care space in an investment context thus making them are more "ideal" candidate?

throwawayfinancebro1

Liberal Arts degree from a decent but not great school. More importantly i passed the CFA level 2 prior to my first role with my current boss, who I’ve worked with at multiple banks together with.

reddituil

You are taking the **Chartered Financial Analyst (CFA)** exam. Please identify which behavioral biases the poster shows in their “Micron $175 call” DD: * **Conservatism** – refusing to update the thesis even when new earnings guidance contradicts it. * **Confirmation** – only citing tweets and bullish posts that say “MU to the moon,” ignoring analysts’ reports. * **Representativeness** – assuming Micron will moon just because another chip stock did once. * **Illusion of control** – acting like their call option somehow influences Micron’s share price. * **Hindsight** – claiming “it was obvious” Micron would rally after the fact. * **Anchoring & adjustment** – stuck on the $175 strike as if it magically reflects fair value. * **Mental accounting** – treating option premium like casino money, not real cash. * **Framing** – presenting losses as “cheap lottery tickets” instead of bad trades. * **Availability** – overweighting that one time Micron spiked, as if it’s the baseline outcome. And the emotional biases: * **Loss aversion** – refusing to sell the option because “it’s not a loss until you close.” * **Overconfidence** – believing their DD is sharper than every semiconductor analyst on Wall Street. * **Self-control** – or rather, the lack of it, buying weekly YOLO calls instead of long-term positions. * **Status quo** – holding the calls to expiry just because doing nothing feels easier. * **Endowment** – valuing their MU call far more than any other ticker’s option. * **Regret aversion** – the whole trade is just “I don’t want to miss the next NVDA-style rally.”

reddituil

You are taking the **Chartered Financial Analyst (CFA)** exam. Please answer: * Did the poster display **confirmation bias**, by only hunting for bullish tweets and ignoring financial statements? * Or was it **anchoring & adjustment**, because they latched onto a random $100 price target from a meme? * Could it be **availability bias**, since their entire thesis rests on remembering “that one time GME went brrrr”? * Maybe it’s just **overconfidence**, believing their three-paragraph DD is superior to Wall Street research? * Or perhaps **regret aversion**, where the whole post is really just “I don’t wanna miss the next rocket”?

throwawayfinancebro1

I’ve worked in the field for just under a decade, have passed the sie, series 7, 63, 86, 87 and am a CFA level 3 candidate.

blacklabel8829

I did some work with CFA and was at their corporate headquarters often for about a year. Every single person there was so far up their own ass about how great the company is. It legitimately felt like I was visiting a cult.

Competitive-Ant2876

I’m not pushing a “narrative”. I’ve been in this sector for years. I’ve held only cresco and GTI. I’ve mentioned putting in stop losses so those who have bags can lighten them or those who are up can capture their profits. I’ve rarely traded this sector but started to this year. 99 percent of my portfolio is else where. I’ve seen this same cycle play out over and over and over again, hopium, hype headlines and then nothing happen. I’m just shining light on that. So the new people have some sort of insight. I’m neither bias to the upside or downside. I don’t invest emotionally. I’ve preached having insight to good and bad when in comes to investing in anything. I come from an accounting background, I have my CFA level 1. I’ve seen the balance sheets they are atrocious. I also understand to an extent what “big players” look for. The 2020 highs came from “what ifs”, and people believing new states would be growth levers, and they weren’t. Market comes online, matures, then price compression happens, then companies rev shrinks. Big players see that. There isn’t product differentials or moats like other industries. It’s branding and quality. S3, safe, or uplisting doesn’t change that. Your money your moves. Idc what y’all do.

LowKey-Revolution36

Well if he doesn't even read and thinks all analysis is bshit than CFA/RIA no chance realistically. I have quite a few stubborn(self-harmingly stupid yet with strong will) family members too so I can relate to your situation. Your motivation to convince your dad is 100% right to look after them and imho it doesn't matter if you also think about inheritance as it is absolutely normal to think about that as well. Many people hate and are envious of someone who has a more beautiful family or financially better family, ignore this noise. What is your dad's return compared to nasdaq or s&p 500? If he is not even willing to compare his performance to the index then this is an extremely difficult nut to crack. Maybe I would try showing him high paying dividend stocks( make sure the companies are safe) from US small caps and Latam ( so in like more extreme countries or small caps so they sound more exotic to him like penny stocks) With few million dollars invested he can make good living off dividends: PBRA EC Petrotal to name a few exotic yet stable high dividend paying companies and in my opinion these companies are exotic yet reputable.

Lemonibluff

Yes. Like any financial book that speak about performance of indexes/mutual funds (including all education material such as CFA, CAIA…). It is not specific oto the book Black Swan.

LowKey-Revolution36

Have you tried to give him presents, maybe books by Warren Buffett or Benjamin Graham the Intelligent investo , Peter Lynch? Does he even educate himself in investing( stock analysis/accounting, sector/company specific information and trends, psychology of investing)? From the points you mentioned I doubt that he likes to reflect on himself objectively. Investing in individual stocks cannot be successful without self reflection only by luck for a certain period of time. I truly believe that psychology and learning from our own mistakes, taking notes, not repeating the same mistake is one of the most important parts in investing. Ofc learning finance and stock market 101 is essential if a person is doing individual stocks. If he is down even with money put in this year when from April lows we had this crazy gift of a bull wave he needs to do something different for sure. I would try two things: 1. quality books from famous investors. Benjamin Graham, Buffett, Lynch 2. Meet with a CFA / RIA first yourself only for explaining the situation and then I would take my dad to the certified person. What he is doing is exactly a possible way of destroying wealth and it seems like he is quite stubborn so you will need a lot of patience. Good luck to you!

Middle-Cat-1204

Conspiracy theory. Virtually all publicly prefer semi-annual reporting. Public companies, particularly through industry associations, executives, and advocacy groups, have repeatedly expressed concerns about the burdens of mandatory quarterly reporting (e.g., Form 10-Q filings with the SEC). Common themes include high compliance costs, time demands on management, encouragement of short-termism over long-term strategy, and a preference for semi-annual or less frequent reporting to better align with business realities. Below, I summarize key evidence from comment letters to the SEC, petitions, surveys, and statements. This draws primarily from the SEC's 2018-2019 consultation on earnings releases and quarterly reports (File No. S7-26-18), where dozens of submissions favored flexibility in reporting frequency. 1. SEC Comment Letters Supporting Semi-Annual Reporting (2019) During the SEC's review of disclosure effectiveness, numerous organizations representing or directly from public companies submitted letters advocating for an optional shift to semi-annual reporting. These highlight disproportionate burdens on smaller and emerging-growth companies. Key examples: U.S. Chamber of Commerce (Center for Capital Markets Competitiveness) (Tom Quaadman, EVP; July 17, 2019, and March 21, 2019): Argued that semi-annual reporting would "decrease compliance costs and reduce short-term market pressures," allowing companies to focus on long-term value creation rather than quarterly fluctuations. They noted that quarterly requirements impose "significant resource burdens" on issuers, especially amid increasing disclosure complexity. Society for Corporate Governance (James G. Martin, SVP & General Counsel; April 19, 2019): Urged the SEC to "seriously consider allowing public companies to adopt semi-annual reporting in their discretion," as it "frees up board and management to focus more on strategy and execution." A related poll by the Society found 45% of emerging-growth and smaller reporting company respondents supported the option, citing reduced short-term decision-making pressures. They referenced the UK's semi-annual model as evidence that many U.S. firms would likely switch over time. National Association of Corporate Directors (Dr. Karen Horn, Chair; Peter R. Gleason, CEO; March 21, 2019): Stated that semi-annual reporting would "allow boards to focus on long-term strategy rather than short-term earnings," reducing the "myopic focus" quarterly cycles create. Nasdaq, Inc. (John A. Zecca, SVP, General Counsel; March 21, 2019): Supported less frequent reporting to "balance investor needs with reduced compliance burdens for issuers," emphasizing that quarterly mandates can distort capital allocation. CFA Institute (Kurt N. Schacht, Managing Director; Sandra J. Peters, Head of Policy; March 28, 2019): Endorsed semi-annual options, arguing it could "mitigate short-termism and allow for more meaningful disclosures" without sacrificing transparency. Arthur J. Gallagher & Co. (Douglas K. Howell, Corporate VP & CFO; August 2, 2019): A direct statement from a public company executive, claiming quarterly reporting "creates unnecessary pressure and costs," and semi-annual would better align with "long-term strategy." Cleary Gottlieb Steen & Hamilton LLP (on behalf of clients; March 27, 2019): Representing public companies, they argued semi-annual reporting would "reduce the administrative burden" while maintaining investor access via Form 8-K for material events. FCLTGlobal (Sarah Keohane Williamson, CEO; Ariel Fromer Babcock, Managing Director; July 22, 2019): Highlighted how frequent reporting "distorts management focus," with semi-annual enabling a "longer-term perspective." Georgetown University (James J. Angel, Associate Professor; March 22, 2019): Noted quarterly reporting "exacerbates short-term market reactions," advocating semi-annual for stability—echoing views from corporate leaders. Other supporters included the Managed Funds Association (September 6, 2019), which called semi-annual a way to "reduce the burden on issuers," and a coalition of free-market groups (Grover Norquist et al.; October 27, 2020), stating quarterly leads to "short-termism" and semi-annual promotes "long-term value creation." 2. National Association of Manufacturers Comment Letter (December 17, 2018) In response to the SEC's Disclosure Update and Simplification proposal (S7-26-18), NAM supported a bifurcated system: semi-annual for smaller companies, quarterly for larger ones. Key reasons: Cost Burden: Quarterly compliance costs smaller firms up to $100,000 per period (lawyers, auditors), equating to $3,345 per $1M revenue vs. $541 for larger firms (per Audit Analytics study). Time Drain: CEOs/CFOs of small caps spend 2-5% of their time on filings, diverting from growth initiatives. Long-Term Focus: Reduces "pressure of short-term thinking," allowing time for strategic planning like product development. Evidence included executive interviews, e.g., a small-cap media company's Chairman calling quarterly reporting a "distraction from core business." 3. Long-Term Stock Exchange Petition (September 2025) The Long-Term Stock Exchange (LTSE) petitioned the SEC to eliminate mandatory quarterly reporting, allowing companies to opt for semi-annual. Backed by public companies listed on LTSE (e.g., tech and biotech firms prioritizing long-term incentives), it argues quarterly cycles fuel "short-termism" and compliance costs exceeding $1B annually industry-wide. LTSE cites a 2023 PwC survey where 68% of executives said quarterly pressure hinders innovation. As of September 15, 2025, over 50 public companies have signaled support via LTSE filings. 4. Broader Surveys and Studies PwC CEO Survey (2023): 68% of U.S. CEOs reported quarterly reporting diverts focus from long-term goals; 52% favored semi-annual to cut costs (estimated at 10-15% of finance department time). Deloitte Global Survey (2022): 61% of public company finance leaders viewed quarterly filings as a "major burden," with 47% supporting reduced frequency to foster strategic investments. Wall Street Journal/Audit Analytics Study (2018): Highlighted $2.5B+ annual U.S. compliance costs for quarterly reports, disproportionately hitting small/mid-caps, prompting calls from groups like the Chamber of Commerce.

CrowdedShorts

CAIA if you want to focus on Alts for your clients. I have my CFA, CAIA, series 7 and 63. Each one for different reasons. I don’t manage money on behalf of anyone anymore. I sell/market funds to investors. It’s only the last two that I need to do this job.

sock_express34

Honestly the CFA exam isn’t necessary other than personal challenge. I have never had any interest in working in a brokerage or investment banking. I did it because I love finance accounting and economics and helped working in mutual fund audits. I personally found section 1 the hardest but made easier working in public accounting and financial statement analysis/ GAAP/IfRs makes it a bit easier than those who don’t work in financial statements.

unt_cat

Dang! Thats lit! Curious when did you pass the CFA? Which level was the hardest. I passed level 1 8 years ago and haven’t gone back fir the other 2. I got a job as a software engineer and idk if I should. My company will pay for the exam and materials if I went back. But idk it would help in any way. 

sock_express34

I’m a CPA and CFA. I charge $334 per hour so let me know

aidsguy19

Well yes and no. I’m not the expert, but it depends on the way the IPO is structured. In some cases the investment bank is required to sell a portion of their holdings in the first few days to provide liquidity to the market. I’m not super well versed, but there was a module in the CFA level 3 curriculum on the process.

ebitdasga

MS in Finance and CFA, completely worthless for trading stocks tbh

Muted_Community_2800

I have CFA,FRM,CAIA,CIMA,ACCA,CPA,CMA,CFP so who is giving advice to whom here

Ordinary_Split_5870

That took some serious stones and an incredibly bullish attitude. Definitely some luck involved but kudos on the power play. Gotta take some risk for big rewards, as long as it’s calculated. As a CFA candidate, it’s awesome to see options at work here.

Madesofspades

I’m a professional investor, I do this for a living, but I don’t work with individuals, I work with tax exempt institutions (endowments, foundations). I learned alot through CFA (certification) and reading. The most important lesson is to have a plan and stick to it, especially when the market is not doing well. The people who do the best generally are the people who don’t tinker with their allocation, strategy or positions. Remember that timing the market is difficult — you have to be right twice (when you sell, and when you get back in).

Block_Gaming_

good enough, she earned her CFA

Normal-Phase-1252

have a masters in banking and finance and passed all three levels of the CFA. down 15k ytd

ImpromptuFanfiction

You always hope it’s just some bored rich guy but you just know it’s some newly-minted CFA managing the money in a nursing home

DowntownShallot4464

checklist for tomorrow : Buy CFA breakfast Lose money

smilesmilegirly

Yes I have a full time job. Investing has always been a passion of mine. I’m taking the series 65 exam in a few weeks and will start my path to get series 7 after. I’m planning to become a CFA eventually.

Competitive-Ant2876

Check my comment history, just a new account , been investing for well over 10 years. Been in account for 6. CFA level 1 licensed. Buy your right nobody can predicate anything but we can be rational

Many_Easy

Part of becoming a CFA entails the study of ethics. Personally, I have to question Alan Brochstein’s. CFA’s do a great job with numbers and analyzing actual data. Where they often miss is with projections and assumptions. Most don’t beat market returns. They do a decent job explaining things after the fact as in what happened and why. CFAs are also intelligent and disciplined for the most part. Alan Brochstein is not - he constantly flip-flops on advice. Also, Brochstein is more of a social media guy with a website soliciting business. With all due respect, he did have a head injury a few years ago and has had lawsuits brought against him. Both give me pause.

shnoiv

Might want to post in the CFA subreddit for those who are in the industry.

djs383

I don’t know man but I’m not trying to sell anything, just have several years of investment experience and CFA candidate that spent a lot of time on the ethics readings tells me that whoever reached out to OP is the one misrepresenting themselves.

Many_Easy

I like your disciplined thought process here. First thing I’m going to do this weekend is to look at Zuanic’s metrics that compare all the major cannabis names. Zuanic’s metrics are purely objective calculations based on current filings. I own a tiny position in Grown Rogue (less than USD $500) as it’s the only cannabis stock that a CFA friend highly recommends. I want to dig into their business and financials soon. I also need to revisit Jushi. I am always impressed by their CEOs intelligence and investment banking background. The other execs there, not so much. I know a few folks at corporate and they have a large finance/accounting staff which indicates strong financial controls. At same time, their operating expenses are probably bloated if we don’t get state and federal reforms. A lot depends on what Virginia and Pennsylvania do with adult recreational.

Competitive-Ant2876

No it’s just common sense investing perspective. You like 90 percent of everyone else is just throwing money into the tickers hoping for the best. I could walk circles around majority people when it comes to investing and accounting. I also have certifications. CFA level 1, not 2 or 3 though cause I’m too dumb. Basic shit like SIE cert, a couple series certs. Also double majored in stats and accounting.

Admiral_lettuce2

As someone who invests in private equity, what in the fuckity fuck is this??? Do not give this person one dollar.  I don't know where you are located, but the person (the one that wants your money) should have zero issues telling you where they work, what their credentials are (CFA, etc), what the fund is invested in, what their target annual returns are, their firms AUM, redemption constraints, lockup period, fee structure, etc.  Out of morbid curiosity, did the email actually mention a company by name (and you edited it out) or did they actually type (company name)?   Kudos to your intuition to knowing something wasn't right, and asking for a second opinion on here, as opposed to ignoring that feeling.

iamagayrat

This is absolutely not from a CFA lol

Charming_Yellow5867

Your CFA friend is ChatGPT lol 🤣😂

Many_Easy

The following shared by a CFA friend is very interesting. Let’s hope we get reforms sooner than later. You’re still holding the stock, but because it dropped significantly after you bought it, and **is now doing well,** you’re having a hard time emotionally reconciling the comeback. You haven’t realized a loss or a gain — but the emotional residue from the earlier drop is still there. ⸻ 🔍 So what’s this called? There’s no perfect one-word label, but here are the most accurate psychological terms and concepts: ⸻ 🔹 “Drawdown Trauma” (informal but fitting) Not an official psychological diagnosis, but many investors refer to this as the lingering emotional impact of seeing a large unrealized loss — even after the stock recovers. The experience changes your relationship to the asset, making you less able to feel good about the recovery. ⸻ 🔹 Cognitive Dissonance You’re holding an investment that has caused emotional pain, and now that it’s going up, you should feel good — but part of you doesn’t trust it, or doesn’t feel like it counts because of the earlier drawdown. ⸻ 🔹 Break-even Mentality You may be mentally anchored to your purchase price, and even though you’re “up” or recovering, it doesn’t feel like a win — it just feels like you’re “finally getting back to even.” This is common and can rob the comeback of joy. ⸻ 🔹 Emotional Anchoring Your emotional memory is still tied to the bottom. Even though you’re still holding and the stock is performing now, your mind is anchored to the pain, and that affects your current perspective. ⸻ 🔹 Trust Issues with the Asset After getting burned once (watching it tank), it’s hard to believe in the stock again — even when it’s going up. This can make you feel uneasy, suspicious, or like it’s “too late” to feel good about it. ⸻ 🧠 In plain terms: “I’m still holding, but it’s hard to enjoy the gains — I’m still stuck in the pain from when it dropped.”

904Funk

need that Discord IPO that would go bananas. my pipedream is one day CFA decides to IPO. I’d literally sell everything, get loans. it would literally break the stock market.

Pure-Recipe6210

I'd like to add. If you really set your boundaries with options and limit your actions to very easy, simple to understand objectives, you can make an argument that you dont have to be a CFA quant to trade them. What I mean specifically is trading the bottom half of the wheel, selling CSP on broad indices (VOO, SPY etc) with the goal to own them and never going beyond your underlying exposure amount. Don't even bother with CCs, just hold like you're taught for ordinary shares. Of course massive caveat is that you probably need to be a millionaire first to have enough meaningful collateral to make an income difference in the amount you generate from CSPs. But yeah, out of all the hundreds of potential options strategies, imo, this one would require the least amount of difficulty to implement safely. Thoughts?

eyegi99

Sounds like he is the founder of Windrock Wealth Management out of Naperville IL and is a CFA. Never heard of the guy before today.

burrowed_greentext

frying up some chicken tonight been marinading since yesterday evening cannot fucking wait home mac on the side and copycat CFA frosted lemonade for dessert

Turbul

If I recall correctly, his cannabis portfolio was never real; it existed only as a theoretical model ? Reason being he’s a CFA and wouldn’t be legal somethin somethin

Hot_Lingonberry5817

Wtf happened at the close with the run up? And why I am here, I’ve got CFA lvl 2 in 3 weeks… 🦆

Patched7fig

The difference is CFA is profitable and doing very well, while Intel has shit the bed and fucked itself over the last 5 years. It used to be the best in the world now it's dovwater. 

GptInvest

The problem with a general-purpose model is that it often lacks up-to-date data or the data is noisy. But if that’s solved, the quality of its answers can match that of a CFA. For now, yes — it’s more of an information source than financial advice. But that will change very soon...

Simon_Inaki

Would you say the news this AM is a red herring while they line up some financing? Good to know the CEO is a CFA I love chick fil a

RigolithHe3

CFA Charterholder, GARP FRM, National Practice lead in a valuation practice and I do well on general themes (generally when to move to growth, value, bonds of different duration, intl, small cap vs large cap) but cannot time movements precisely. Retail investor psychology is something I am trying to understand better = behavioral economics. I have always been comfortable with pigs getting fat and hogs getting slaughtered. Deep understanding of markets can help with moving allocations around but given public markets there is not a lot of alpha to earn consistently. Other markets...oh yeah...private markets lots of excess returns.

Educational_Pop6138

There's nothing in the CFA that makes you a good investor. I've got my charter more than a decade ago and its largely useless. The recipes for a good investment lies in the qualitative stuff that the CFA completely misses (channel checks, consumers love for products, management incentives and credibility etc). The CFA stresses the stuff that add nil value.

antoine1246

Once you get CFA I, II and III (or have insider information) I’d argue that you have a pretty good idea what you’re doing. If you’re self taught, than you never know for sure.

SANTKV

When i write my CFA exams, if there is a question "What is a CDO", i am going to write CDOs are "Dog Sh\*t wrapped in Cat Sh\*t !

mikestorm

The CFA curriculum goes into cognitive and behavioral biases in level 3. Actually I think a few years ago they moved it to level 1.

Successful-Head1056

You should start with a CFA prep course; it will help. Good luck, young man

Freemarn

I just passed my CFA Level 2 exam not long ago.