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All posts for the month June, 2016

Level III Proposed Articles

Posted by Bill Campbell III, CFA on June 19, 2016
Posted in: Free.

Here’s a list of the articles I have planned for Level III, but haven’t written and posted yet.  There’s some good stuff coming:

  1. Alpha/beta separation
  2. Analyst forecasts
  3. AO vs. ALM
  4. Asset Manager Code
  5. Behavioral factors
  6. Bounded rationality
  7. Cognitive errors
  8. Comparison of investor types
  9. Constraints
  10. Core-satellite portfolio
  11. Credit risk
  12. Currency hedging
  13. Currency risk
  14. Decision theory
  15. Efficient frontier vs. resampled efficient frontier vs. Black-Litterman vs. Monte Carlo
  16. Emotional biases
  17. Equity return attribution
  18. Fixed income return attribution
  19. GIPS®
  20. Leverage
  21. Market-neutral (long-short) investing
  22. Micro attribution
  23. Option strategies
    1. Short box spread
    2. Short straddle
    3. Pension plan impacts
  24. Portable alpha
  25. Prospect theory
  26. Replication vs. sampling vs. optimization
  27. Returns-based style analysis vs. holdings-based style analysis
  28. Risk & return
  29. SAA vs. TAA
  30. Short extension
  31. Swap strategies
  32. Taylor rule
  33. Trading strategies
  34. TWAP
  35. VaR, CVaR, IVaR, MVaR
  36. VWAP

Level II Proposed Articles

Posted by Bill Campbell III, CFA on June 19, 2016
Posted in: Free.

Here’s a list of the articles I have planned for Level II, but haven’t written and posted yet.  There’s some good stuff coming:

  1. ABSs
  2. ANOVA tables
  3. Arbitrage Pricing Theory (APT)
  4. CDOs
  5. CMOs
  6. Consolidation (acquisition method)
  7. Credit derivatives
  8. Equity method
  9. Fischer
  10. F-statistic
  11. Goodwill
  12. H-model
  13. Multifactor models
  14. Multiple regression
  15. Mundell-Fleming
  16. OCI
  17. Option strategies
    1. Short box spread
    2. Short butterfly spread
    3. Short straddle
    4. Short strangle
  18. PPP
  19. Present value of expected loss
  20. Pricing T-bill futures
  21. Residual income
  22. Riding the yield curve
  23. Simple regression
  24. Swaptions
  25. Time series
  26. Treynor-Black
  27. VaR, CVaR, IVaR, MVaR

Level I Proposed Articles

Posted by Bill Campbell III, CFA on June 19, 2016
Posted in: Free.

Here’s a list of the articles I have planned for Level I, but haven’t written and posted yet.  There’s some good stuff coming:

  1. ABSs
  2. Bond amortization
  3. CDOs
  4. CFF
  5. CFI
  6. CMOs
  7. Depreciation
  8. Dividends
  9. DuPont
  10. Efficient frontier
  11. Forward discount/premium
  12. Income tax expense
  13. LIFO reserve
  14. OCI
  15. OPA
  16. Option payoffs
  17. Pictures (in Economics)
  18. Project evaluation
  19. Ratios
  20. Revenue recognition
  21. Risk and return
  22. T-accounts

Cross Hedge vs. Proxy Hedge

Posted by Bill Campbell III, CFA on June 8, 2016
Posted in: Level III Asset Allocation.

Level III candidates often confuse cross hedges and proxy hedges.  This isn’t their fault: one of the readings makes a distinction between these, while another claims that they’re the same (though it includes a footnote that says that they’re different). Sigh. Suppose that your domestic currency is the Canadian dollar (CAD), and that you have […]

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CFA® Level III Membership

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Linear Interpolation/Extrapolation

Posted by Bill Campbell III, CFA on June 8, 2016
Posted in: Level I General, Level II General, Level III General.

After reading a number of posts on AnalystForum in which candidates have had difficulty with linear interpolation or extrapolation, I figured it was time to write an article on the subject.  At Level I it applies to binomial trees for calculating the weights for equity options, and for combining risky portfolios with the risk-free asset […]

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CFA® Level I Membership, CFA® Level II Membership, CFA® Level III Membership

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Contingent Immunization

Posted by Bill Campbell III, CFA on June 5, 2016
Posted in: Level III Fixed Income.

The idea of immunization is fairly straightforward: you have a known set of liabilities due at known future dates, and you want to create a portfolio that will fund those liabilities with a minimum of risk, at a reasonable price.  Two types of immunization are discussed in the CFA curriculum: classical immunization and contingent immunization.  […]

This article is for members only.  You can become a member now by purchasing a

CFA® Level III Fixed Income Membership, CFA® Level III Membership

This will give you access to this and all other articles at that membership level.

Classical Immunization

Posted by Bill Campbell III, CFA on June 4, 2016
Posted in: Level III Fixed Income.

The idea of immunization is fairly straightforward: you have a known set of liabilities due at known future dates, and you want to create a portfolio that will fund those liabilities with a minimum of risk, at a reasonable price.  Two types of immunization are discussed in the CFA curriculum: classical immunization and contingent immunization.  […]

This article is for members only.  You can become a member now by purchasing a

CFA® Level III Fixed Income Membership, CFA® Level III Membership

This will give you access to this and all other articles at that membership level.