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+1former trader wrote:
L1 is a rehash of undergrad. You will have to up your game in subsequent levels.
AND your undergrad was finance and/or accounting, rather than something like math, physics, or engineering.VWJETTY wrote:
L1 is pretty much undergrad if you REALLY paid attention.
Mike. Any good poker player understand implied odds. Yes, the pot odds say fold, but the additional rewards you make throughout your life if you “hit” make this a no brainer “call”.mmike wrote:
I think it all goes back to “how you say it”… versus the “what”. Given that the average person who is serious about the exam, is probably at least somewhat versed in statistics and wouldn’t have much difficulty calculating the chances of passing all 3 on the same try.
Looking at just PURE numbers, and being a rational person and occasional poker player, I’d look at it, as numbers stacked against me and “fold”. I think what’s missing from your story is her character. I.e I took it as a personal challange above anything, without unrealistic expectations about the benefits. Plus I was geniuinely interested in a good chunk of the material covered. I think those 2 factors outweighed the statistics in my case, and perhaps others on this forum had a similar outlook.
My 2 cents..
^ Great analogy! Now how can I take this puppy back to the pound?SpareTime wrote:
I personally don’t think anybody should be encouraged to begin the CFA, in the same way that I don’t think anybody should be encouraged to get a dog. The merits of being a CFA (or having a dog) are obvious, and are almost never overlooked. A person will encourage themself to start the CFA (or get a dog). The intense time and effort requirements are more likely to be overlooked. If they have the motivation to push through all the debbie-downer statistics and advice, then they’re probably right for the job.
Too many people get puppies without understanding what it takes to properly raise a dog. A lot of the L1 failures in CFA are probably for the same reason.
I actually don’t understand the comparison ^_^SpareTime wrote:
I personally don’t think anybody should be encouraged to begin the CFA, in the same way that I don’t think anybody should be encouraged to get a dog. The merits of being a CFA (or having a dog) are obvious, and are almost never overlooked. A person will encourage themself to start the CFA (or get a dog). The intense time and effort requirements are more likely to be overlooked. If they have the motivation to push through all the debbie-downer statistics and advice, then they’re probably right for the job.
Too many people get puppies without understanding what it takes to properly raise a dog. A lot of the L1 failures in CFA are probably for the same reason.
SpareTime wrote:
I think you’re holding my analogy to too high a standard lol. I was just trying to say that people are usually plenty motivated on their own to get a dog or to start the charter, but they’re really only ready for it if they can hear a bunch of bad news about how difficult it is and STILL be willing to go through with it.
Gordon Gekko, is it you?SpareTime wrote:
… to get a dog. The merits of being a CFA (or having a dog) are obvious, and are almost never overlooked. …