sent !!
@ Hedging
well , my prep was crappy last time (not that I am super prepared this time) , my CFA prep both last year as well as this one took a toll because of GMAT plans and MBA apps , but i had prepared decently for equity , ,FRA and quant rest I had lot of loose ends . these are my mistakes , but few general pitfalls I think could be over come
1) L2 curriculam is very vast so the best strategy would be to study everything really well and few sessions ( mentioned below ) should be known cold .
2) Practice is really really important , even though I had lots of practice materials I had no time to practice much , I barely practiced for a week , atleast a month of practice is decent time
3) CFAI , EOC is a treasure , i felt in the exam most of the questions were very similar to EOC , EOCs are slightly tougher than the actual exams but great source of learning concepts .
4) IMO most of FRA is very important especially Inter corp Investments , Multinational ops , Pension accounting but be prepared for few questions on inventory and long lived assets not a standalone vignette but CFAI slips these in between the other concepts . Pension accounting even though the concept is tough t o comprehend the trend I have noticed is CFAI asks very fundamental questions but concepts such as multi national ops , intercorp inv can be extremely tricky for ex : in multinational ops they could make it ambigous whether its a current rate or temporal + highly inflationary environment + mix up in CTA / Inflationary profit ,loss etc and intercorp inv they mix up with significant control and significant influence etc
Time series and mult regression in quant
Triangular arb , Currency Swaps , Few on options / hedging strategies
Many on CDO,MBS , structured products
Equity again is a highly important area , everything on valuation (Residual income , GGM , DCF ) I found emerging mkt valuation and multi stage gordon growth to be very tricky
This is all I remember from the last year , I will be building upon these during this year’s prep but a long long way to go . All the best