Is CFA worth with?

Asset allocation, risk, diversification and rebalancing. Pros/cons of hiring a financial advisor. Seeking advice on your portfolio?
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aimhighthinkrich
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Is CFA worth with?

Post by aimhighthinkrich »

Good day everyone,

I am new to this forum and I see a lot of financial experts here. I wonder if CFA is worth with. I am an IT developer and I don't have much financial background.
cashinstinct
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Re: Is CFA worth with?

Post by cashinstinct »

"Worth" for you to become one?

Or "Worth" when considering who you should talk to regarding your savings / investments ?

You did not define if you are looking for a job or for someone to help with your finances.
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Re: Is CFA worth with?

Post by InvestorNewb »

Please read the following, as it will help you come to your own conclusion:

http://www.bogleheads.org/wiki/Boglehea ... _costs_low

You also don't need a financial background to be an investor.
My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest)
aimhighthinkrich
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Re: Is CFA worth with?

Post by aimhighthinkrich »

cashinstinct wrote:"Worth" for you to become one?

Or "Worth" when considering who you should talk to regarding your savings / investments ?

You did not define if you are looking for a job or for someone to help with your finances.
It would be for my own investment. I have an IT job but I would like to invest on the side.

Thanks
aimhighthinkrich
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Re: Is CFA worth with?

Post by aimhighthinkrich »

InvestorNewb wrote:Please read the following, as it will help you come to your own conclusion:

http://www.bogleheads.org/wiki/Boglehea ... _costs_low

You also don't need a financial background to be an investor.
Thanks for the link.

I just thought there are technical / fundamental analysis from the course. The financial analysts on TV always have CFA background. Like I want to know how to read and analyze the balance sheet, cash flow and income statement etc...
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Re: Is CFA worth with?

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Re: Is CFA worth with?

Post by parvus »

The CFA is useful if you want to get a job in finance. That's about it. And you'll likely end up being a salesperson, rather than a portfolio manager.
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SQRT
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Re: Is CFA worth with?

Post by SQRT »

I think if you just want it to help with your own investments, there might be easier but equally useful designations. Probably start with the CSC and go from there. The CFA will take several hundred hours of work and is quite challenging. The actual designation( as opposed to the knowledge itself) is mostly useful in impressing others. If that is important to you by all means go for it.
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Re: Is CFA worth with?

Post by cashinstinct »

To actually get the CFA title, you need to work in the industry anyway for a couple of years.

For you, I don't see the benefits at all.

You can search for CFA level 1 material online and you will quickly see it has nothing to do with the skills you are looking for.
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Re: Is CFA worth with?

Post by Kundan Lal Rana »

I think ‘Worthiness’ of CFA, as you asked, more depends on the aspirant in relation to his/her experience, capability and dedication to achieve future plans not the other way round. You are an IT guy, and you are not concerned much about the finance, you should really ask "Is it the right choice for me or should I opt for other things?" "Will I need training for this to easily grasp the matter? ". Finally it all depend on you.
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Re: Is CFA worth with?

Post by SQRT »

cashinstinct wrote:To actually get the CFA title, you need to work in the industry anyway for a couple of years.
.
Correct but the rules are loosely applied. This is apparent through the very large number of candidates. I worked for a large bank when I got my CFA (1998) but not in the securities area.
Last edited by SQRT on 02 Sep 2014 09:51, edited 1 time in total.
cashinstinct
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Re: Is CFA worth with?

Post by cashinstinct »

SQRT wrote:
cashinstinct wrote:To actually get the CFA title, you need to work in the industry anyway for a couple of years.
.
Correct but the rules are loosely applied. This is apparent through the very large number of candidates. I worked for a large bank when I got my CFA but not in the securities area.
When? Rules are more tight than before.

Example: you used to be able to get CFA while being an auditor in an accounting firm (CA, now CPA,CA)... but in the 2010s (don't remember exact year), it does not work anymore.

Anyway, IT business probably does not qualify, and I don't see the point of CFA for the OP who wants to understand finances better for his/her own purpose.
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Re: Is CFA worth with?

Post by SQRT »

cashinstinct wrote:
SQRT wrote:
cashinstinct wrote:To actually get the CFA title, you need to work in the industry anyway for a couple of years.
.
Correct but the rules are loosely applied. This is apparent through the very large number of candidates. I worked for a large bank when I got my CFA but not in the securities area.
When? Rules are more tight than before.
If so, I stand corrected. I got mine in 1998.
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Re: Is CFA worth with?

Post by cashinstinct »

No worries :) I simply want to warn op (and others) that it's practice + exams to get a CFA.
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