Beat The CFAs!

Saturday, January 20, 2007

Study Session 2 - Flexibility

Well Study Session 2 has been a lesson in adaptation, unpredictability, and flexibility. I had a very busy week at work this week (despite a short weekend!) and I just could not find any time in the morning, during lunch, or at night to study. I tried to study very very late and I found myself doing a little bit at a time but skipping sample problems. I thought I could catch up on the weekend.
Well it's the weekend now, and I have tried to catch up but it's not nearly as effective as hammering away a few hours each day. The topics are not quite gelling in my head, and I find myself wanting to read on/ catch up rather than doing problems.
The good news is that if I keep going at it just a little longer today, I'll be "caught up". But it's hard - I definitely need to listen to my body and learn not to be a slave to the schedule. It's hard for me though. The Bank Discout Yield stuff is stupid, makes no sense, and is useless. But if you try to tie in BDY to HPY to rmm and finally to EYY (thankfully there was that 2nd to last concept checker) it all ties in nicely (basically, BDY is stupid and misses compounding, being an actual yield, and uses a short 360 day calendar- all the rest help get it "caught up"). Also nice for the concept checker was the illustration of how time-weighted returns resist bias, and money-weighted returns skew the return.
Anyways, I've been partially able to get back in by reminding myself what my goals are, and how I'm going to accomplish them, so that has helped.
Oh, and it is PAINFUL to have to do just practice problems. So either do them while reading a study section, or do them with them. But never do them alone (so, so, so freaking painful).

Takeaways:
-Agh! Watch out for unexpected events to derail your studying.
-Be sure to study a little bit each day to make it more manageable.
-Fight the urge to panic because you're off schedule.
-Pair study sessions and pratice problems!

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