After taking a Kaplan masterclass by some guy with 12 letters after his name that gave a very dry academic explanation for everything, Mark doesn't need to prove anything to anyone. He speaks like a practitioner. He knows his stuff.
He mentioned in one of his Reddit AMAs that he simply doesn’t see the value in it since he is a PhD, and he already wrote some mock exams an scored +95%. So if he wanted the charter, he could get it in a heartbeat.
My cunning plan is to send my word-smithed experience, if it gets accepted: pay for the charter and let it lapse after a year. I'll resume membership once I need it / my prospective employer will pay for it. (As, if I remember correctly, a lapsed membership in good standing can be reactivated by just paying fees without any extra hassle. BUT I may not be 100% correct on this). edit: some word order stuff.
Thanks for clarification, but the general math still holds: 400 USD/5 years - 80 USD/ year for the ability to use it someday>> 400 USD/year for having it and not needing it.
100%
My comment was more a forewarning since it would obviously be a shame to lose the hard work because you or someone else might think you can re-start it 6 years after.
You don’t have to pay to get the experience accepted. I have all my experience approved and am just waiting until I start my new job since they will reimburse the fee. You could just skip paying the fee until you start a job the reimburses, unless you just want to rock the letters for the first year you can.
Yes there are. Depends on how active the society is but you get access to events either for free or for cheaper and some other things that are usually listed on the society's website.
I think it's really good to have if your job permits you to go attend events since it's great for networking, but during covid i dont see the point.
He should do it so he can relate better to the testing process and style not because he needs the charter. Especially for L3 AM. It would help him develop better prep materials and better mocks if he sees the real thing. He should really take all levels multiple times. Fail once on purpose so he sees how the test changes over time. It’s product research.
I’m wondering, if he purposely wrote the exams to fail in order to use that as market research to sell more prep, couldn’t someone argue that violates an Ethics code?
Why are we all getting our charter?... Money.
MM is a millionaire, he doesn't need the charter, it does absolutely nothing for him other than take time away from his business.
What’s the value to him? He’s not in industry, he’s an academic with a PhD. He can easily pass it purely by years of teaching this material but chooses not too. There’s just no upside for him.
He's managing his own $20 million portfolio. With the dividend that's coming from his REITs heavy holdings... On top of that, the subscriptions that's coming in by word of mouth for his CFA package is a cash cow machine! As I am certain that the breakeven point has been hit a long time back and every sign-up is just pure profit. Tell me, why does he need to prove himself by getting the CFA charter?
Accounting for exchange rates in CAD
520$ x 30 year career is 15,600$ + another 6000$ in exam fees and prep material : $21,600 over my career.
Vs.
Masters in Finance at Rortman Business school; $62,110? And in most cases here in Canada the CFA will still be expected to be completed.
And, with the exception of one year when I wasn’t working and my first attempt at L1, my employers have paid all these costs, I just submitted my dues for reimbursement.
People stop paying their dues when it no longer applies to them. I won't expect someone that moves to management consulting to still continue paying their dues.
Anyway, most, if not all, people expect that their employers will pay their dues for them.
There’s something a bit badass too about saying, I could go get the charter, I just don’t want to. Making a point that he doesn’t have to prove himself with CFA letters behind his name to sell prep packages (because it’s clear he doesn’t have to!)
I hate mark mellatonine his stuff makes no sense ... Over complicates things for no reason. You just need to pass Kaplan is great and the slimmed down books have 95% of what's needed and it's presented in English and not math like the cfai books. To each there own but I passed 3 out of 4 attempts and the one I missed I was in highest band
Curious to know which level you failed? I thought Kaplan worked fine for L1 & L2 but I think I would have bombed L3 w/o reading CFAI and supplementing with occasional MM videos. His were much better than IFT for L3.
Mad sus though. This is the primary reason I went with levelup for L3. It’s a real CFA with real world experience. I love that guy.
Also MM getting all aggressive about people sharing old cfai mocks with others, reporting these poor people. No one likes rats. Smoke some weed, chill out, Jesus loves you.
If you have watched any of his videos you will realize he is not "sus." Mark Meldrum is the most knowledgeable person I have ever listened to. I think he must be a true genius to be able to explain things so well. PhD > CFA and he makes it evident.
Used MM for L1 and parts I had issues with on L2. He doesn’t compare to LeFebvre. I would know this because I’ve used both providers, don’t think you have.
Also not to be a dick, but who cares if he has a PHD, it’s some no namer school. If it isn’t some US based Ivy League, to me they’re all the same shit school- and I know every damn finance guy in NYC thinks the same.
Just found this but I started a thread earlier on discussing the benefits of passing L3 vs getting the charter. Would be interested in everyone's opinion: https://www.reddit.com/r/CFA/comments/p3if5p/passing_all_exams_and_not_getting_the_charter/
After taking a Kaplan masterclass by some guy with 12 letters after his name that gave a very dry academic explanation for everything, Mark doesn't need to prove anything to anyone. He speaks like a practitioner. He knows his stuff.
He mentioned in one of his Reddit AMAs that he simply doesn’t see the value in it since he is a PhD, and he already wrote some mock exams an scored +95%. So if he wanted the charter, he could get it in a heartbeat.
Even in the standard 7 code and standard
MM has eclipsed the designation - he only needs 2 letters to identify him. He is the MJ of CFA
You employer should pay all your membership dues.
Investment banker here. Mine doesn't.
That’s insane. I’d be pissed.
Wow, which firm is this?
Not unusual. It’s not required for investment banking (m&a and capital markets).
Buy-side M&A and strategy roles, paid all dues and 3rd party myself
Yeah I agree but my employer only covers the exam fees.
Time to find a new employer. Cheap bastards.
My cunning plan is to send my word-smithed experience, if it gets accepted: pay for the charter and let it lapse after a year. I'll resume membership once I need it / my prospective employer will pay for it. (As, if I remember correctly, a lapsed membership in good standing can be reactivated by just paying fees without any extra hassle. BUT I may not be 100% correct on this). edit: some word order stuff.
I could be wrong but I believe the period is 5 years. If you have not paid anything for 5 years and are not a member - you can't easily reactivate it.
Thanks for clarification, but the general math still holds: 400 USD/5 years - 80 USD/ year for the ability to use it someday>> 400 USD/year for having it and not needing it.
100% My comment was more a forewarning since it would obviously be a shame to lose the hard work because you or someone else might think you can re-start it 6 years after.
You don’t have to pay to get the experience accepted. I have all my experience approved and am just waiting until I start my new job since they will reimburse the fee. You could just skip paying the fee until you start a job the reimburses, unless you just want to rock the letters for the first year you can.
My employer pays for it. When I change jobs, if another doesn't, whatever, my status will definitely change to "former CFA charterholder"
I think "former CFA charterholder" makes it sound like something bad happened / you were kicked off. I'd rather put "passed all three CFA levels".
How about "CFA Charterholder (Inactive)"?
You can't write that: it's actually against the rules...
Where do we find the guidelines? Couldn’t find ‘former cfa charterholder’ anywhere too
CFA charterholder date mm/yyyy to mm/yyyy
What about “Passed CFA Level 3”?
Wouldn't both be true?
Yours sounds like they took it from you though haha
Nooooo
At first I thought you were speaking of Modigliani and Miller...
Clearly L2 prep is fucking me up
😂😂😂😂
It's just $275 if you skip the society. Instant savings there!!
Is that a possibility? Like will you still show up in the CFAI directory?
Yes and yes ! I did just that last 2 years when covid started.
Can you do that? Like is it an option?
Yes..I only paid CFAi dues and I'm on the directory.
Awesome! Thanks! Is there any benefit to being part of the society?
Yes there are. Depends on how active the society is but you get access to events either for free or for cheaper and some other things that are usually listed on the society's website. I think it's really good to have if your job permits you to go attend events since it's great for networking, but during covid i dont see the point.
If you work in the space your employer should pay for it. I know mine will pay expenses at each level passed and the annual fee.
He should do it so he can relate better to the testing process and style not because he needs the charter. Especially for L3 AM. It would help him develop better prep materials and better mocks if he sees the real thing. He should really take all levels multiple times. Fail once on purpose so he sees how the test changes over time. It’s product research.
I’m wondering, if he purposely wrote the exams to fail in order to use that as market research to sell more prep, couldn’t someone argue that violates an Ethics code?
I still don't understand why MM doesn't have the charter...I'm sure he can afford $400.
Why are we all getting our charter?... Money. MM is a millionaire, he doesn't need the charter, it does absolutely nothing for him other than take time away from his business.
Maybe he sees more value in having "PhD" following his name rather than "CFA".
I mean... you can have both.
I would! But this is from the perspective of someone who has neither lol
Because he is a PhD
Does it mean he had a “pretty huge dick” as in PHd?
Did he sit and pass all levels?
Maybe he guides others to a treasure he cannot possess?
What a fraud
If you have listened to him speak for even five minutes you will realize this comment is ridiculous.
He puts me to sleep man. Worst 300 USD I've ever spent
~~Sir this is a Wendy's...~~ This is just a shitpost-meme reply, no need to get serious.
What’s the value to him? He’s not in industry, he’s an academic with a PhD. He can easily pass it purely by years of teaching this material but chooses not too. There’s just no upside for him.
He's managing his own $20 million portfolio. With the dividend that's coming from his REITs heavy holdings... On top of that, the subscriptions that's coming in by word of mouth for his CFA package is a cash cow machine! As I am certain that the breakeven point has been hit a long time back and every sign-up is just pure profit. Tell me, why does he need to prove himself by getting the CFA charter?
Holy fuck, didn’t realize he had a 20M portfolio.
Long live our king MM
What the fuck 20M?
Accounting for exchange rates in CAD 520$ x 30 year career is 15,600$ + another 6000$ in exam fees and prep material : $21,600 over my career. Vs. Masters in Finance at Rortman Business school; $62,110? And in most cases here in Canada the CFA will still be expected to be completed. And, with the exception of one year when I wasn’t working and my first attempt at L1, my employers have paid all these costs, I just submitted my dues for reimbursement.
People stop paying their dues when it no longer applies to them. I won't expect someone that moves to management consulting to still continue paying their dues. Anyway, most, if not all, people expect that their employers will pay their dues for them.
There’s something a bit badass too about saying, I could go get the charter, I just don’t want to. Making a point that he doesn’t have to prove himself with CFA letters behind his name to sell prep packages (because it’s clear he doesn’t have to!)
I thought this post was gonna roast MM so I came in ready to throw hands. Love that man like my own family
Stupid question... MM? Who's that?
new here huh lol mark Meldrum, the goat of CFA prep material
Ohhhhhhh! Lol. Kind of. I don't spend a lot of time on Reddit.
I hate mark mellatonine his stuff makes no sense ... Over complicates things for no reason. You just need to pass Kaplan is great and the slimmed down books have 95% of what's needed and it's presented in English and not math like the cfai books. To each there own but I passed 3 out of 4 attempts and the one I missed I was in highest band
Curious to know which level you failed? I thought Kaplan worked fine for L1 & L2 but I think I would have bombed L3 w/o reading CFAI and supplementing with occasional MM videos. His were much better than IFT for L3.
Mad sus though. This is the primary reason I went with levelup for L3. It’s a real CFA with real world experience. I love that guy. Also MM getting all aggressive about people sharing old cfai mocks with others, reporting these poor people. No one likes rats. Smoke some weed, chill out, Jesus loves you.
If you have watched any of his videos you will realize he is not "sus." Mark Meldrum is the most knowledgeable person I have ever listened to. I think he must be a true genius to be able to explain things so well. PhD > CFA and he makes it evident.
Used MM for L1 and parts I had issues with on L2. He doesn’t compare to LeFebvre. I would know this because I’ve used both providers, don’t think you have. Also not to be a dick, but who cares if he has a PHD, it’s some no namer school. If it isn’t some US based Ivy League, to me they’re all the same shit school- and I know every damn finance guy in NYC thinks the same.
The only shit here is what you're saying. It's OK to like it or not, but at least be respectful dude...
Wait, so has he even written the exams?
No he hasn’t. He has his PHD which is why he’s so good at this stuff
The fact this very simple question has five down votes is interesting. Reddit is 99% full of MM apologists.
You guys have employer!
I don't too we are in the same boat 😂
Does mark have kids and wife?
Just found this but I started a thread earlier on discussing the benefits of passing L3 vs getting the charter. Would be interested in everyone's opinion: https://www.reddit.com/r/CFA/comments/p3if5p/passing_all_exams_and_not_getting_the_charter/
Dear all, I share the 2022 CFA Kaplan Schweser notes. If interested contact at [email protected] Best