Hello fellow Turtles,
Sorry I have been away so much. I have been preparing for CFA 2, working by day, and trying to start some side endeavors in whatever free time I have left. And parenting a toddler. Enough about me.
I hope you are all feeling good about your FRM preparation as you come...
Since one of the capital requirements is proportional to volatillity the ECB has lowered the multiplier to offset the higher volatility.
Seems like a bad idea to me. Markets are all over the place, the higher capital requirements seem justified.
But their game, their dice, their rules...
Does anyone know how many certified FRM's there are globally, and in the US? I have been googling for some time now and can't seem to lock down anything concrete. The closest figure that popped up was 50,000 globally, and it looked like that was from 2018.
So, if anyone knows, and...
Reviewing one of David's video and there is a very basic example of a bond.
2 years, 6% coupon, Semi-Annual Payments, $100 Face Value.
Spot rates are:
5%, 5.8%, 6.4%, and 6.8% for .5, 1, 1.5, and 2 years.
Bond values at $98.39. Fine.
Calculate YTM using Goal Seek and come up...
As I sit here waiting for my CFA L1 results and my career experience validation from GARP, I was looking into the IMC certiificate. I think it is big in the UK.
From what I can tell it is an "Entry level" exam. Has anyone here taken it? Anyone here taken it and also taken CFA L1? If I pass...
I don't see a current events forum so I will put this here. It does have a lot to do with liquidity risk.
A month or so ago the repo rates spiked to 10%, so the Fed stepped in with liquidity support. With what they have now pledged to add in December it will be about $500 billion in...
I am sorry if this is posted elsewhere, I did try several searches.
Both Part 1 and Part 2, Full Mock #1's both say they are Mini-Mocks A to D combined into one.
But the decscription for Full Mock #2, for both parts 1 and 2, make it sound like they are completely different than their...
I was wondering what the consensus was around here about exotic options.
Any thoughts on testability and how many of them we need to master?
This is what GARP says. A lot of describe and explain.
Chapter 26. Exotic Options [FMP–14]
After completing this reading you...
Just wondering, does the actual test have a lot of trap answers or not? Most of the PQ's here do not.
A trap answer is an answer based on a common mistake that one might come up with. For example, not converting SA to Continuous. If the answer calls for one of them, but has choices...
I am studying so much that when I go to sleep I keep seeing formulas. Sometimes they are correct, but other times they have nothing to do with anything. It makes it hard to get a good night's rest.
Burning the candle at both ends here.
I am trying to interpolate the VaR using the hybrid method. Below is Table 1-3 from Allen.
For the initial, (top half), for 5% I interpolate between .0447 and .0511 and -2.90% and -2.70%. I get 2.73%.
.0500 is roughly 17% less than .0511 so 17% of the difference is roughly .03% which gives...
Hi, this is not about specific question but about the concept of Monotonicity. It did not seem intuitive to me when I read it and I was hoping it was an error, but I just watched the video and it is the same.
IF Y>=X then rho(Y) <= rho (X)
If Y returns more than X, than the risk of Y must be...
I just finished reading Brooks and watching David's video on Monte Carlo simulations.
The age old problem of computer generated RNG's came up as not being truly random because they always require a seed.
What we used to do when I had a commercial venture that required a true random numbers was...
I don't see a General Discussion area so I will put this here.
Unfortunately I never took statistics in college, so all of this is new to me. I am using the GARP books and BT.
I was struggling with it until Bayes theorem, then things seemed to click a little better. I found Stock and Watson...
I keep reading that passing the CFA level I requires around 65% across each of the topics.
When you get your results do they tell you your actual scores in each topic, or your percentiles in each, or do they just tell you pass/fail?
Not sure where to put this, I didn't see a general disccussion forum so I am putting it here. Mods, please move it if there is a better place for it.
So I am roughly a week in. I read the first Garp book and all study notes on Foundations of Risk Management. I went though all of the...