Why I quit the CFA program after passing level 1. |Chartered Financial Analyst|
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- เผยแพร่เมื่อ 3 ก.ย. 2020
- Disclaimer: None of the information in this video should be considered as advice. This video was made for entertainment purposes only. None of the content is intended to offend, encourage or discourage anybody from doing or not doing anything. Kindly consult a registered advisor prior to taking any decisions.
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Don’t leave your CFA program after seeing this video. This man thinks that life is like a fairy tail with no pains. Be strong and prefix that damn CFA charter.
What do you mean by "prefix that damn CFA charter"?
Shouldn’t it be suffix? Lol
I wouldn't disagree with you. Life ain't a fairy tale.
U can from the decor that this guy still lives at home with his mommy.
Thanks for the encouragement!
Thank you for being so candid Karan. Im sure this will inspire others to decide what their goals are when they undertake a course rather than mindlessly go into something. Time indeed is the most valuable investment
Thanks Jazz
You are absolutely correct.
I am a CFA level 1 candidate. Few days ago, I have also realized that CFA is just a validation. You don't become a value investor by getting a chater holder degree. There are lot people around the globe who are in the field of finance yet they don't know how to analyse a company's financial report, business model and management.
Hi sir here rupesh I have know about cfa level 1 can you help me with that
you are violating the standard 7 by calling it a degree
CFA is not For becoming a super investor is about to make great carrier
@@victoriav.3912 Exactly
@@victoriav.3912 Hey!! How should I approach this exam I from engineering background I have interest in economics
"Experience Give You Deep Learnings But When This Is Mixed With Proper Knowledge & Professional Degree , It Will Give You Deep Earnings With Proper Respect Which You Deserve. "
Thank you karan for sharing your experience with us ☺️... After all Investing is not about crunching the numbers it's all about understanding the fundamentals of the business
Optimum amount of information in shortest possible time. I could feel the idea behind your whole line of thoughts just basis how you explained all of it. You made it so easy to understand! Thankyou
Thanks Aman!
Thanks for this, very helpful insight! I too was looking for the valuation aspect like you, so I purchased the study material for level 1 thinking id be set, but noticed it's not what I was looking for either. I maybe shoulda gone with the FMVA instead haha but glad i got to see what the CFA is about so i won't go wasting time there. Thanks again!
Guys if you are struggling with CFA, this video will give an excuse to quit!
Omer if you take the time to read prior comments it would save you from coming across as ignorant
😂😂
I think you are right....My educational background is of commerce and I understand financial statements. I was also thinking of pursuing CFA just for additional degree but then I decided to give up on the idea considering the amt of time and investment it will require....it shall not give me fulfillment and happiness at the end....so am finding what shall be my right destination
Thank u, for clearing the myths about these designated certification programs and I would like to talk to you personally because I am I am in the same situation as you were.
" MOST VALUABLE THING IS YOUR TIME " Love it ❤️ your point of view brother...
Thank you Praful
All these fancy degrees, fundamental analysis, value investing just to see another dog-themed crypto outperform every asset class in the world.
yea a science background guy invests in this shit and makes a lotta money without having abcd knowledge of TA FA or anything logical
i mean sure but these were random occurrences in history it's not like it could have really been predictable but more of on the lucky side , let's not complain and push on
Ok beo
Best comment
This aged bad
so, according to your experience what do you recommend someone to study/read/watch - someone who wants to get deep into investment for self rather than having any formal certification/degree in finance?
Thanks bro this was really helpful!
Thanks a lot brother for sharing your experience with your juniors
Thanks so much for the share Karan! You saved me many hours of potentially wasted study.
I work in FP&A - not so close to investment. I cleared level 3 not a while ago. It opened doors for me not because of the knowledge out of the certificate but rather the credibility in the charterholders perceived by the market at least in my region.
Where do you live?
Great Karan ji I respect your thoughts. Ur decision is marvelous .
Dude your videos are gold. I found you through Tom’s channel 👌🏻 keep up the work
Great! Thanks😊
Hi Karan. Thanks for sharing your experience. I used to think passing CFA level I exam would help me walk through the entry door to investment. But the basic knowledge turned out to be not valuation or financial analysis related.
You sound so smooth and reliable... Thanks for your insights..
Hey tnx for the video. Exactly what I was looking for.
I never pursued the CFA for similar reasons. It seemed more like I would be doing it only for a credential rather than practical knowledge. Saw nothing new in there.
That being said it is a great learning path for many. I tell many of my peers to do it when they ask where to start for a career in finance.
For someone who doesn’t have a background in Finance, what would you say is a realistic time frame to get their level 1? 6 months or so?
@@abouahmed1031 depends on how much time you can devote. 6 months is realistic
@@anrm6 Bro why do you say there's nothing "new" in there? What did you pursue before CFA? And does CFA not provide any Practical Knowledge?
@@sheeja8999 studied most of the stuff during my MBA & after. Never cared about the Ethics part lol. That being said I still think it is worth it for the job opportunities that the title brings & it will give you a great base!
@@anrm6 Would it be good to pursue CFA after Bcom? Will I get practical knowledge..
I agree so much with you Karan, our most valuable asset IS our time. Especially time to play with that joyous Orange dinosaur in the background ! HOW FUN ! 🤗
You made me rethink the why. Thanks bro.
Brilliantly articulated, agree with most of the things you said.
I am not CFA yet but being a commerce graduate and MBA finance I think, Non-commerce background people especially science background students face difficulties, As he said that he didn't know about annual reports as he only relied on his teachers. Passing the exam is very hard but I think if you are very intelligent you can crack the exam but you need a strong base which you need to build by learning from 11th std to PG. Understanding concepts and interlinking them will give you results but you need proper foundational knowledge you can't cut corners.
Great video, how long did you study Buffett until you actually started applying it by buying stocks?
Could you please mention some of the books that you found the most helpful?
Got a video about that coming soon!
Thank you karan
Your experience helped me to decide what tje next of my goal, I'm hesitated between acca and CFA, my career now is accounting and reporting i think acca will be better, agree?
A person should go for CFA if they feel like they should. CFA is definitely a great certification and not for the weak willed or faint of heart. So if someone is preparing, it's not that you should get demotivated. Also, you never know when a certification will land you a job or a promotion. There's no point pursuing a CFA if your only thought is companies will eagerly wait for you to complete the CFA with a red carpet. Don't get depressed now if you have started. Give it your all.
Don't get discouraged by a video which defames CFA and then gives disclaimer that the video is for entertainment purpose. LOL.
Mr Karan You made my day and i was right at what you will talk about...Just now i was just trying to watch CA vs CFA debates for fun and then came across yours and initially i thought You would quote warren and charlie (my all time gurus) and they were right when they said "buiness schools teach a lot of things which we dont believe in"
am so happy that before starting investing I went thru warren and charlie mindset and everything about them and guess what ,though i am born in 2000 my mindset is still like how my gurus think about a business .
modern finance and schools teaching finance just teach some greek signs which are BS and teach the popular EFFICIENT MARKET THEORY.I love their speech about how they grilled business schools .....
MY GURUS ARE ALSO MOHNISH PABRAI,GUY LILU TOO..we have a great mindset..
BTW you did a great job quiting that useless course..just they both are enough to change your entire career.
What's the debate lol CA is more valuable obviously
Hey Karan,thanks for sharing! at this point I’m having the same thoughts, what books/sites do you recommend me to look for?
I've got another video up recommending investing books, think you might find those interesting
H
I’m 12th passed batch of 2021...now I am totally confused wht to opt for my further studies...I came across this cfa thing including other profile posts in commerce corporate....WHAT SHOULD I CHOOSE? HELP ME 🥺
Very nice video. Thanks a ton.
i've been investing since 2018, & i am 3rd year BS in finance atm, i really don't find diversifying that bad if YOU included with it other stuff, it makes sense since bankers did it for decades, but you can always find a strategy & mix it with it.. and as i see, working on our psychology/strategies/testing etc.. rather than studying hours for exams can be way more useful! at least in the investing departing
Yes agreed. Better to do what works best for you
I think you'd like another video I put up recently with the title How to manage your emotions when investing
You can do both. The fear of failure is real but we have to face it to grow.
Guys need help is that mandatory to do level-2 after level-1, i mean if we don't pursue level-2 level-1 will get expired ?
From whom do you take coaching for level 1 cfa?
What is the approximate word limit which most of the people uses to write personal statement for CFA scholarship ? Please reply 🙏🙏
Your prospective definitely worth to hit a like above. However, I still believe in the CFA value.
Yes,
i have the exact same thought,
time is our biggest assets,
who we are depending on how we convert our time to something more valuable for our life.
My life isn't that smooth,
i don't even have the ability to go colledge like you and most of the people,
but i didn't give up, im keep learning,
i know where i should go thank to all of those hard time experience,
this is a gift .
Hope you found yours soon .
Nothing can stop you if your aim is to keep learning and growing. Best of luck 👍
Hi Karan, thanks for the video, did studying for CFA level 1 teach you how to value companies at all? did it help you in any other way before switching to Buffett's investing?
Not really. Didn't cover anything that I didn't learn in my undergraduate degree.
@@KaranMGurnani I am taking level. It didn't help you because you did not study for level 2 . Level 2 is all about valuation, and level 3 portfolio management
Yeah man no extrinsic motivation to obtain CFA to drop out makes sense. There's a ton of information and ideology to portfolio management but the CFA license provides a strong base of knowledge that can be tied to other teachings later on
dude this exactly what i feel too, i wanna a good investor too and get good at valuing businesses , which is why ive been thinking of starting CFA, can you please tell what did you do next? and what kind of a job or course should someone who thinks likewise should get into?
I know you initially came from an engineering background and then pursued finance courses but if I may ask what about the difficulty level of CFA level 1 for a person who was pretty average in commerce in his 11th and 12th and didn't have maths in his graduation also? I'm asking this because of 2 reasons. 1. that you yourself have cleared CFA level 1 and 2nd reason is that your maths must have been very good because of being in an engineering course earlier.
Your response can help not just me but so many others as well looking for answer to this kind of question.
Thanks.
Hi Karan I'm an electrical engineer 2018graduated now I'm interested to pursue CFA inorder to build a strong career as well startup infuture will you please guide me brother
buddy, can you share the links or name of lecturers that helped you gain the relevant knowledge?
If you want to learn about value investing, a good start is reading "The intelligent investor" by Benjamin Graham. I am studying for the CFA as I think one can do both: learning CFA theory while having a value investing philosophy.
Do we need to join any online coaching tp crack CFA? As, I am not from a background of Finance, I need few suggestions about which materials one should chose to study and crack the CFA level 1
@@baniejoashii9111 There is Kaplan schweser, Wiley and others that will facilitate your study. I am using prepnuggets wich is a light and much cheaper version but nevertheless very good for peole with no background.
@@camilocuesta Hey, what's the fees that you had paid to CFA Institute for registration?
i appriciate your thought bro... becouse all the Business study Schemes are not desigend to b a student Business leader or a Self motivated investor....but its all is only for to make us A useable part of the finacial and economic mechinery working around the word....for the benifits of Corporations not really & actually for us own....
🐷🐷🐽 how is everything going there on the otherside of the border. I bet when our TCS's worth is more than your whole pakistan stock exchange, in such scenario having business knowledge for an individual won't be fruitful because you don't have business to invest in.
You should have continued your CFA; then you would have seen how beneficial that charter really was for anyone trying to manage his own portfolio.
Strange thing to hear that the college/university you were studying in, never gave you an assignment to actually study two company's annual reports and compare them to understand trends. As, where I am studying, this came in the very first semester. Anyways, there is no point of criticizing you or your mindset, as what you said also makes sense, but at the same time, ignoring CFA is also not the right thing. I believe, that more than earning the CFA charter, it is the in depth knowledge of the basics that is the need of the hour. So, I would recommend listening to you, and at the same time, listening to others as well, who think CFA is necessary too. Besides, many job openings have CFA listed as a pre-requisite, so for people who are seeking brighter opportunities, doing CFA can just lead you to the right place. However, also be mindful of the fact that in India, there is no provision to apply the core-concepts of level-3, so first two levels can be handy and substantial.
Well said bro .... Gr8 investors never had such fancy degrees
He'll sir I need your help can you please help me my interest is in stock market and finance only so are the options available I want to be a full time trader or a investment banker is it possible to be investment banker after CFP?
Brother along with Company secretary, CFA is good??
Can you suggest me which master course is better for me because I believe exactly like you in investing and I don't care what is trend.
Bro it do help if you read the syllabus and curriculum overall it gives Extra material to just pass the exam won't help you if you only want to do for promotion and just a having CFA on Ur resume
Great investors with CFA : Eddie carl Brown, Mario gabelli, Howard marks, Bill gross, etc..Great investors without CFA : james simons, warren buffet, kenn griffin, Robert F. Smith, etc...Win - Win..choose what you want and move forward, but work hard in improving both knowledge and investment wisdom.
Well said
I would like to know where you are commenting from na kama ni hapa Kenya, how many have CFA that are indeed great investors sir?
@@martinjob2246 Kenya is a small pond/market with not much to learn from the present
@@charleskinyua6529 Thanks for clarification. I am pursuing this CFA and I feel like I will just drop it. Few firms to practice on.
@@murimimartin But you can check out profiles of Kenyans doing something globally e.g Diana Kiluta Amoa CFA, Sam Kanyi CFA, Job.K.Muriuki CFA, and others..they are out there, not just in Kenya. The world is a destination, just like Mars. Boundaries exist for just the political and small minded among us!
As a software engineer, I am pursuing CFA and it added tremendous value both in terms of knowledge and career growth. If achieving great success in investing was as easy as reading a few books and following a few investors, then half the people on earth would be billionaires. For every Bill Gates who dropped out of college and went on to become very successful, there will be 1000 others who dropped out and ended up achieving nothing. Nothing stops me from both pursuing CFA and reading investment books/following great investors if I am PASSIONATE enough.
But nothing against the creator of the video as he seems to be a reasonable guy. Everyone's individual circumstances are different. Do what is right for YOU based on your interests and circumstances. There is no easy and quick path to success.
Hyy can you help me with some questions I'm 12th passout and I also want to pursue software Engineer and cfa both can you tell about the job I will be eligible after that. Is it necessary to do BTech from top colleges to get batter package and should I do MBA after my btech
Hey Karan, diversification in portfolio doesn't only limit to equity in which you analyse and pick stocks of different sectors,it is much beyond equity,where you will know what proportion has to be allocated to equity,debt,fixed income,futures, options,real estate etc which cfa teaches you in depth and no other program teaches whereas the successful value investors mostly guide upon picking right stock and are only limited to this.
So if you want to restrict yourself only in investing in equities that to if you want to be a investor and not a trader then you can follow the footsteps of the successful value investors,but if you are a person who wants to have a full knowledge of the investment in the world and want to work in profile like investment banker, portfolio manager,equity research analyst, financial consultant then I think Cfa is the program you should pursue.
You should take a look at my other video where I talk about reasons to do CFA
Thankyou so much! This helped alot to clear my mind! I want to do CFA to gain knowledge about investments finance.
@@shreyaambekar9033 I'm glad that I could help you, if you need more insights regarding CFA program (assuming you are an Indian by the name🙂) you can follow Sanjay Saraf Educational institute channel,they have some good content regarding to CFA Program.
Hey Karan - At best, I am a novice in the world of investment but I can completely correlate to your self realization. This video has simply re-enforced my belief through someone who actually went through the grind. Thanks for being open.
Thanks Anand! Remember that every master was once a novice. Nothing can stop you if your aim is to keep learning and growing. Best of luck 👍
@@KaranMGurnani thanks dude. Completely agree. I would be a regular visitor to your channel and would watch it grown into thousands 😉
Can you share what resources you used to learn about investments???
whenever i search for a CFA level 1 concept i will see this video appearing in my screen and big discourage and disappointment for me.
Select the option for "don't recommend channel"
Hope it helps and best of luck for your exam🙂
Sir how did you prepare for cfa level 1?Did you take coaching?
thankyou for sharing your experience
Bro I'm a graduate. I'm really keen to be a good analyst. Is it a good idea to pass level 1 exam have a. Job for me. Because a consistent amount of money is required to invest
Thank you this video was insightful, I look forward to further videos on your most recommended books in the area of value investing. I do understand your approach and it makes sense so I will look into for personal investments. I will still do the CFA as it will be beneficial to my personal career track. Out of curiosity what mic are you using 🙈
The video about the books is already up🙂
It's the fifine k678
To become a financial analyst in uae, do cfa require?
I am pass now 12 th so what we do for cfa plzz tell because I am interesting in this but i have no idea what we do so tell me only that step to step what we do B.com that is regular or none. After b.com what we do.
Good on you. Very helpful and informative.
Plus there are many different ways of learning so if this approach works for you then it might be better than taking the CFA. However, I would encourage you to consider their materials for research purposes as you progress in your personal research journey. They publish very good articles on investments and release the CFA investment series books. Those are very good for reference especially when you need to understand something for personal development but not to pass exams. I also use my favourite book ' Investments by Bodie'. Everything else is personal research and application. I don't have time to prepare for the CFA anytime soon. Maybe some day in the future
Don’t quit the cfa. This is just a lame excuse to give up. Nothing worthwhile is easy.
CFA is a bunch of content you won't use in real life. 🤭
Which book to go with?????
But the so called time is just around 2-3 years extra max. Whereas the gain is massive. The materials and the lens after doing the CFA really helps me.
Thnx for video man
sounds like an honest speech. also, please improve the audio quality next time, the sound keeps jumping up and down
Brother please guide me. I am from India and persuing BCom Hons for now want to go for CFA but I come from lower middle class family and money is a issue. Is it good to opt CFA as a career because I won't be able to invest again in the course if I fail. Please can you guide from your knowledge
Be thorough with your preparation why you want it and you alone reason it. Then plan it properly that you won't fail timely schedule your exam as per your preparation timeline and it's standard. You'll get through but be honest with yourself. Don't think like typical Indians do and just do things for the sake of it rather reason it find it's worth and how does it make sense for you your career. All the best mate
You can send me the link to the video of Warren Buffet?
The most common misconception about the CFA is that, with this designation, you’ll make a lot money once achieved. Though there is potential to do so, as with anything you work towards, this designation is becoming “saturated”, lack of a better term. Soo many people are after it and a degree in finance (one would assume) isn’t required. If you ask me, it’s all about the CFA institute making money at the end of the day. I’m not bad mouthing anyone who has busted their ass to achieve this designation whatsoever.
Great
I was planning to study CFA so that I can trade better. Self realisation !!!!
this is absolutely right.............
Interesting insight Karan. I'm AUSer too (finance grad). Your videos are really helpful during these times as most fresh grads I know invest their time on more certifications without a clear goal.
Thanks Abdulrahman! That means a lot :)
thats the point to open doors and have more options. You will never have "a clear goal" life is about trying different things. Im also finance grad and i only see benefits in the cfa. You dont really have a lot of credibility only woth a bachelors degree
@@icecream6680 having a cfa does not ensure more opportunities. Demonstration of competence based on past experience is a better source of credibility over designations.
I say this as an employer, not an employee.
@@KaranMGurnani sorry but i dont agree with you. I dont know where you live but there was many jobs i wanted to apply fo and i could not bcuz it was requiring a cfa designstion. So yes it does open more doors. you cant become a portfolio manager without a cfa ( this is one oportunity ur missing).
Ps: you need 4 years of experience in the investment industry to be a cfa. Its not just doing the exams and ur done
@@icecream6680 it's ok you don't have to agree with me
You are in a wrong course go for mba instead . Work for MBB . Management consulting will help you tremendously to understand the business perspective .
While Cfa is core finance ( purist) vs Mba target for business consulting & management ( generalized ) .
Good choice brother .
Hi do any one have old cmt level 1 book??? Please advise
Would you rather test your knowledge on your own hard earned money or on an exam?
can we do from university from uk because I want to do offline from uk
By the time you'll become value investor,someone is planning to do cfa this is not to become value investor because he/she want to make professional career because I'm from middle class family and i have to secure a good job and to get job companies see your qualifications
Mind 😏wash thanku 🥰😍😍😍😍😍
Great insight and new sub here! I've passed the CFA exams but haven't done the final review to "use" the designation. I'm not a fan of some of the recent changes from the CFA institute. I might share a video on my experience as well :)
Please share! I'm deciding whether to go for a CFA or an MBA and talking about your experience would help me along with many others!
Initially I thought that it would be just a vague criticism of such a valuable course, but eventually I realized that his perspective is great too, since Warren Buffett's way of investing is just so awesome but yet not accepted well.... His reasons of leaving the course are valid, but others who are interested in broad finance must still pursue cfa, it's just that simple....
It was really valuable brother
Thanks!
Is CFA good for knowledge gaining? I’m trying to learn day trading for now but want to know finance and investment in depth and apply practically in real life? Should i do this course? Please guide
Definately shreya CFA gives you the depth knowledge about the finance and investment so go ahead but always remember practical approach is more important , even i thought to prepare for cfa and planned accordingly if u interested pl text me if u have a better plan for preparation thanks
if you trade stocks. read warren bufett and the interpretation of financial statements
It's nice to finally find someone relatable. Just graduated from university this December with a Finance Major. Like you, I also didn't feel confident in my Finance abilities so went for CFA. While it's reinforcing what I learned at uni, it's painfully boring. I simply don't care anymore and I'm just trudging through it because I paid the admission fee
I've lost all my passion for the CFA and this only level 1! Imagine how "excited" I am for level 2 and 3 😑. I'm thinking that once I do level 1 (either pass or fail), I'm just going to stop with the CFA completely. It hasn't really taught me anything practical, or at least imo.
Thanks Robert! What career path do you feel you're inclined to pursue?
@@KaranMGurnani not sure yet, I do want to work at a bank though lol. Might seem counterintuitive to not finish the CFA if I ultimately want to work at the bank but I believe gaining real experience is better than studying. As for the position/career itself, I'm not entirely sure yet. Anything at the bank is simply a start
@@robertyoung406 not at all! There are a lot more qualifications you could pursue later if you want to become a wealth advisor or hold some other role. You're absolutely right about the real experience being better. Best of luck 🙂
humm u do realise that the cfa designation is a requirement for many jobs in finance right ? 😆
@ice cream statistically there's a lot more jobs in finance that don't require a cfa designation compared to the universe of jobs that do
Hi... I am an non finance person with an mba and exp in HR.. Intersted recently in persuing CFA... Do you think it would be easy for me to clear and that a career switch from HR to Cfa is worth it in the US ??? Thank you
It may be a better idea to transition into the role that you want to pursue and attempt the cfa side by side
@@KaranMGurnani ok.. Thank you . Is it tough or easy for someone with no finance expirence or background to clear cfa?
You will have to put in the work. Most people need to put in 3-5 months of studying every single day to clear the exam.
@@KaranMGurnani ok.. Thank you...
Hi Karan, I share your sentiment on the value of time as well. I was actually just looking for short vid on default risk, then I saw this. Thanks for sharing your thoughts on the CFA exam.
Thanks
Okay, but don't you think after CFA you'll be a far better investor.. Bcz CFA gives you the skills to properly interpret the annual report.. Of course reading investment books, watching interviews help.. Don't you think you will miss out some technical skills, hedging skills etc by which you can improve your return.
I've been compounding in the high double digits over the past 3 years without leverage, that's a good result by any yardstick
Very niche opinion . People who want to seek jobs CFa will helps us
Well of course, CFA is the best recognition to get a job in asset maagement, it's not to become the next warren buffet
What kind of knowledge or degree is needed to analyze companies annual report, financial statements?
Basically, a finance degree.
hi,
I am 21, finished UG (2020) I am Financial background i intrested to do in CFA currently I got financial job as a fresher, how to prepare for level 1? give me some guidance
a lot of what is covered in level 1 is done in the UG program. It's quite simple to pass level 1. Just make sure that you are putting in consistent effort every single day. Add studying for the exam to your everyday routine for a few months and you will have a higher likelihood of clearing the exam.
UG ???
Undergraduate
@@KaranMGurnani thnx for reply
What kind of financial job ??
Just go and see how many companies buffet holding
Its just an execuse to quit
Most people do cfa which holds potential to earn a healthy active income
No matter how great company you find by analysis the main role is of the capital
Do you know fundamental analysis and technical analysis
Can anyone help us to find best traing for investment in stock? Not theory need practical