CFA

Okay, so I have signed up to the CFA. It was a big decision, not least in terms of cost. Cost in a financial sense, and also opportunity cost of studying. The enrolment for the Level I exam (for fees received on or before 15 August 2007) is US$390, whilst the one-off registration is US$455, making a grand total of US$845 up front moolah. The opportunity cost comes in when you consider that the advised study is 250 hours, (around 10 hours per week) for the Level I exam. So, all in all, a big commitment. However, the RoI of the CFA is large, and is a pre-requisite for most jobs in fund management. It's possible to see why when you look at the curriculum:

Ethics

Quantitative Methods

Prelim readings for Economics

Quantitative Methods

Micro Economic Analysis

Macro Economic Analysis

Global Economic Analysis

Corporate Finance

Prelim readings for Accounting

Financial Statement Analysis: Basics, Cash Flow Analysis and IASB GAAP

Financial Statement Analysis: Ratios & EPS

Financial Statement Analysis: Inventories, Long term Assets

Financial Statement Analysis: Deferred Taxes, Off Balance Sheet Debt

Securities Markets & Equities

Derivatives

Debt Investments

Alt Investments/ Portfolio Management

What to do? Well, suck it up, hit the books, and keep fingers and other extremities crossed. CFA Singapore has a study timetable for the December exam (December 2nd, by the way), and although I won't be joining, I do know that I should be starting Ethics on June 30th, and finishing with Alternative Investments/Portfolio Management on November 3rd.

I would hope that Econs will be okay, given that I used to lecture Econs, but the rest I haven't really touched since my Masters degree. And the one stand-out is Quants - a subject that I hated at Uni. So much so, that my PhD was quals-based. Suddenly, doing a quants-based PhD looks more attractive!!

Anyway, I've got the books, and I've got the schedule. The rest, as they say, is up to me.