Study Session 1

This is a very straightforward introduction to the CFA's. Pace yourself so that you don't cram. Try and think holistically about what is ethical and what is not. The three major topics are the Code of Ethics, Global Investment Performance Standards (GIPS) and the fairly lengthy Standards of Professional Conduct. I highly recommend getting index cards and creating flash cards to jot down and help solidify some of the rules. In fact, I would require that you do this (a little GIPS joke "recommend/ require". Also, I just bought the TI BA II Plus in preparation for Study Session 2. I would also recommend getting this calculator ASAP if you haven't already done so to make the next study session meaningful.
One thing that Schweser (and this is nitpicking) doesn't make clear is the GIPS key characteristic that you should "include all actual fee-paying, discretionary portfolios in composites for a minimum of five years or since firm or composite inception. After presenting five years of compliant data, the firm must add annual performance each year going forward up to a minimum of ten years". What I don't get is, what exactly happens at 5 years?
Based on a question I came across, it looks like you must be retroactively compliant for the most recent 5 years, and then can have 5 years of non-compliant data beyond that. But I don't think the rule explains it that well.
Also, I have been bad about keeping up this blog because I like studying at home but don't like blogging at home/ or at work (I'm blogging on a Sunday now).

Takeaways:
1. Be prepared: Notecards, Calculator (TI BA II Plus).
2. Pace yourself
3. Figure out a way to keep blogging on a more regular basis.