Finally, my book is now available on Barnes & Noble website for immediate delivery. If you are a B&N Member, you can buy the book at $15.25, a 10% discount. Enjoy!
Hello, Dr. Jiu, just got your book today, i am enjoying it so much…….just one question, do you reall think CFA is not a big deal if I just want to be a pure quant on sell side? I am preparing for CFA now, just got thestudy notes, but not register the exam yet, what’s your opinion?
Hi, walkingfish2007! Thanks very much for buying my book. Glad you’re enjoying it.
As to your question, CFA is really not something people on the sell side look for. I’m not sure exactly why. Maybe it’s for historical reasons. When you look at the sell side quants, very few have CFA.
That said, if your own educational background is not in finance — e.g., are you an engineer, computer scientist, physicist, statistician, or chemist by training (among other disciplines)? — than studying for a CFA serves three good purposes:
1. It gives you exposure to concepts in finance, even though many such concepts won’t be used by quants
2. It shows potential employers that you’re committed to pursuing a finance career
3. It allows you to pursue non-quant opportunities, after you gain some practical financial experience (BTW, here’s the catch-22, though: to get the CFA title you must have "relevant" experience in finance)
My take is, if you have a very strong quantitative background and have a good chance of landing a quant job (and esp. if you’re getting a Ph.D.), CFA is not necessary for either buy side or sell side. Otherwise, consider going for it; it won’t hurt.
Great tip: you don’t need to tell prospective employers you’re going for the CFA, unless you already passed at least one exam (namely, Level I). Otherwise, if you tell them and you don’t pass (just in case!), it’ll look a bit embarrassing, won’t it?
Hello, Dr. Jiu
I appreciate your reply. It;s really helpful to me. well, I was major in Electrical Engineering, now I just transferred to Rutgers, and major in quantitative Finance. I may go for the CFA. As you mentioned, it will give some basic ideas about finance concepts. My only concern is that my first semester schedule will be fully loaded. I just hope everything could work out eventually…hahaha, God bless me 🙂
I saw your post on my space website. hahaha, no kidding, you grow up in Guilin, Guangxi?!?! What a small world! so glad to know you, and so proud of you as a "Lao Xiang"! I hope one day I could be succeed just like you are, with such achievements… hehe, wish you have a very very nice day! Keep in touch!!
BTW, Which high school did you study at? Gui Lin Middle School? I am from there. We may be alumni 🙂
Fill in your details below or click an icon to log in:
You are commenting using your WordPress.com account. ( Log Out / Change )
You are commenting using your Twitter account. ( Log Out / Change )
You are commenting using your Facebook account. ( Log Out / Change )
You are commenting using your Google+ account. ( Log Out / Change )
Connecting to %s
Notify me of new comments via email.
Notify me of new posts via email.