The value of a CFA

(07-04-2014, 10:26 PM)LikeWise Wrote:

(07-04-2014, 09:04 PM)opmi Wrote: Don't quit your civil service job. You will
appreciate it when you hits middle age.

Pursue investment interests outside job. Get bread and butter
first. Value investing don't work in the fund mgt
becuase of institutional imperative and career risks.

How to pass CFA - take 2 weeks leave from exams and study the guide books
and get a good approved calculator. High fail rate because a lot people never take
leave to cram study coz people taking exams got degrees so proven can study one.
Warning: This advice may be outdated. Hahha.

haha... yeah... that's what my mum keeps telling me. I agree that a finance job can be unstable and it's hard to justify not buying overvalued stocks in a bull market when everyone is making money and you are not if you work for a fund.

I guess maybe I'm jaded after 5 years at the job. Sometimes I find myself dragging my feet to work, I find little meaning in my work sometimes, and I wondering if there is something more interesting out there.

Alamak, then wait till you buy a share thinking that you have covered all angles and then it sits there for the whole time when other stocks all zoomed past it only to see it performing after you sold and switch to another counter...

This is what I call more jaded. Better off learn from some NBN (no brand name) buddies here to make more $ from a stable income better.

Just got to work hard after work and find more rewards in a hobby. I have heard of some successful civil servants who build a substantial portfolio via investing their stable income - why not aspire to be like one of them - thereafter everyday eng eng seng seng...

GG

Don't bother if you think CFA is the passport to success or get you into being a fund manager managing 100 mills of funds.. I've lost count the number of CFA folks who are in operations or middle office that never make it to front office simply because they don't have experience (never given a chance).

If you really want join the adult table, see if your civil service allow you to transfer to MAS, MOF, GIC, Temasek.. It will be much easier if you are in those area.. Once you're in it, whether you have or not does not matter anymore. Afterall, its whom you know.

just my two cents worth.

(07-04-2014, 08:22 PM)LikeWise Wrote: Hi dear valuebuddies,

I would like to ask if any valuebuddies have taken the CFA before. I am currently thinking of leaving my job for something in finance and I am considering doing CFA so I can make the transition (I have an engineering degree from NUS). I am currently in an administrative government job not related to finance. I understand that CFA is a lot more depth in portfolio management as opposed to a masters in applied finance and the pass rate is 20%. I also understand the time needed to take it is alot.

The questions I'd like to ask is if it does open doors in the Singapore context in terms of job prospects. I know there are a number of stock analyst who write reports who have CFA, so I guess that is a possibility, but are there more options? I don't suppose that it is easy to get into places like Investment banking with just a CFA. (I have read that some analyst transition into IB, any confirmation?)

I used to share the same thoughts when I was younger. But I feel that the benefits of obtaining a CFA/postgrad degree are vastly overstated by the various institutions who are marketing the courses.

Why? As time passes, more and more people have such qualifications. Economics 101 explains that when something is scarce, the value goes up. When its plentiful, the value goes down.

Why should the company hire someone just because he/she has a CFA/postgrad degree? I agree that having the qualification will do no harm as it is the minimum expectation nowadays for the stock analyst role.

Dont get me wrong. I am a supporter of life-long learning. At the end of the day, there are only a limited number of positions available for stock analyst. However, there many different roles in the financial sector and the point i am making is that you should explore more options. Working in a role which requires a niche set of skills will definitely pay more than one which anyone can do.

Wish you all the best in life's journey.

It really depends which age group are you. If u are before 30, it should be still possible to do part time while sacrificing your personal time. After 30 where most careers ad family start to take off, you should not have time to do CFA anymore.

From my nick you can tell my education background and i have always wanted to join investment industry. However, it is uphill task as universities are always generating young professionals who may be more capable in generating models, reports, analytics etc. But my personal opinion it is a necessary evil, without it you have very low chance to apply for investment roles. With CFA, it doesn't guarantee you a role too. Alternatively, you may consider to start an Investment blog and show your portfolio during fund interviews and it may work but usually only boutique funds or your connections can get you a role.

One thing I like to mention is that I have never regretted doing an engineering degree than a business one. Business courses usually do not give you a chance to do something hands in like experiment in the lab, building a motor for your project, basic programming courses etc. These engineering knowledge allows one to understand the real world better and also equip you with problem solving and critical thinking skills. Not to say about how rigorous is the course, many successful leaders hold engineering degrees. An engineer can always do a MBA to know but can a business student study engineering after graduation?

Anyway I always remember d.o.g wise words that when you are young it is more important to get a high paying job and increase income tremendously from the start so that you will have a bigger nest to compound in the later years

it seems like there is an oversupply of foreign engineering professors in local uni? as I hear so many cases of engineering grad not doing or unable do engineering work after graduation..or is my eyes playing tricks?

(07-04-2014, 10:26 PM)LikeWise Wrote:

(07-04-2014, 09:04 PM)opmi Wrote: Don't quit your civil service job. You will
appreciate it when you hits middle age.

Pursue investment interests outside job. Get bread and butter
first. Value investing don't work in the fund mgt
becuase of institutional imperative and career risks.

How to pass CFA - take 2 weeks leave from exams and study the guide books
and get a good approved calculator. High fail rate because a lot people never take
leave to cram study coz people taking exams got degrees so proven can study one.
Warning: This advice may be outdated. Hahha.

haha... yeah... that's what my mum keeps telling me. I agree that a finance job can be unstable and it's hard to justify not buying overvalued stocks in a bull market when everyone is making money and you are not if you work for a fund.

I guess maybe I'm jaded after 5 years at the job. Sometimes I find myself dragging my feet to work, I find little meaning in my work sometimes, and I wondering if there is something more interesting out there.

Just to add on jobs and careers.

The reality of life is that not everyone will make it to the top. Many will get stuck in middle mgt and will be retrenched when the downturns come.

The problem with corporate skills is that it is not very useful without a corporate framework. Meaning being great in your job is useless if you dont have a job.

The MOST IMPORTANT thing to do in any job is to make sure your bosses like you. Capability is secondary.

(08-04-2014, 12:36 AM)mrEngineer Wrote: Anyway I always remember d.o.g wise words that when you are young it is more important to get a high paying job and increase income tremendously from the start so that you will have a bigger nest to compound in the later years

How to get a high paying job? 可遇不可求

Read this from an Indian value investor blogger. Some relevancy here.

http://www.safalniveshak.com/13-lessons-...f-my-life/

If you want to be average, you can. If you want to be exceptional, you can too. No sure formula for it but fundamentally it boils down to attitude in life.

Exactly! I always believe it's possible to excel in any industry/profession, and with it comes the wages. Having CFA will not make much of a difference in securing a finance job because of the many CFA + finance degree grads out there. Actually if you get a job in finance, the company will pay for your CFA!

Changing industries is as good as writing off all your past work experience... I'd say, think twice, we don't have infinite amount of time to live. Better off doing something that has more value add to your current position.