Rob Langrick, CFA, CIPM’s Post

The CFA Program Level III registration opens tomorrow with the choice given to candidates to specialize in Private Wealth, Private Markets or Portfolio Management. The 3Ps. Check out Rob's post for more details on how the market is driving CFA Program LIII evolution.

The world of investment offers a multitude of career choices which, although sometimes little known to the public, are all as exciting as each other! Discovering them through my meetings with our members is always a real pleasure. Thank you to Patrick Chamberland CFA FCIA, Jean-Philippe Meloche, MBA, CFA, FRM and Lanxu Clara Zhang, MBA, CFA for sharing their passion and their atypical professional journey with us in this article!

🎓 Sharing My CFA Journey: Fixed Income Hi Everyone, It's been a while since I updated you on my CFA journey, and I'm excited to tell you about my latest progress. This past week, I dived into Fixed Income, and you know what? I found it pretty cool! 💼💰 Even though people said it's tough, I enjoyed it for a few reasons: 1. Interesting Stuff: Learning about bond markets and interest rates felt like discovering a whole new world of finance. It's complex, but it kept me interested. 2. Real-life Stuff: The things I learned about Fixed Income are directly useful in the real world, which makes it practical and valuable. 3. Surprising Success: Even though people said it would be hard, I found that I could understand it and have fun learning with some effort. Starting this week, I'll dive into Financial Statement Analysis and share my progress with you all more consistently! Now that I've finished this part of my CFA journey, I'm excited to use what I've learned in real life. Whether it's understanding bond markets or making investment decisions, I feel ready for whatever comes next. I'd love to hear from others who've studied Fixed Income in their CFA journey. Share your experiences in the comments below! #CFAJourney #FixedIncome #FinanceEducation #InvestmentAnalysis 📚💼

📈 The Investing Lesson You Hopefully Learned in 2023... As we move through 2024, a review of last year's market provides a valuable lesson to investors: market timing is HARD. Think about it this way: correctly predicting the market once is like flipping a coin, a 50/50 chance. But predicting it right twice? The probability drops to a mere 25%. In 2023, numerous investors moved to cash after a difficult 2022, ultimately missing the equity market's recovery (the Russell 3000 rose by 25.96%). Now, these investors face a more formidable decision: when to buy back in? The stakes are high and the pressure is immense. In Peter Lynch's words, "More money has been lost by investors preparing for corrections or trying to anticipate them than has been lost in the corrections themselves." The effects of such decisions reach beyond financial implications, impacting an investor's future mindset and not just the long-term value of their portfolio. Once out of the market, fear of making a mistake and re-entering at the wrong time keeps many of these market-timing investors on the sidelines, possibly for years, causing them to lose out on the returns needed to beat inflation. There is a solution: education and a trusted financial professional. With the right asset allocation, combined with patience, discipline, and a trusted professional, you can improve your odds of a successful outcome. Since 1926, the stock market has increased 100% of the time in every rolling 20-year period. So, what will you choose? Will you attempt to time the market, or will you adopt the mindset of a true investor, aiming to capture the long-term trend of markets rising 100% of the time? The latter offers not only more certainty but also much more peace of mind with significantly less stress. —————— I post for dentists and professionals three times weekly Tap the bell 🔔 on my profile and you'll be notified the second I post Click link in profile to learn how to create income and lifestyle using your corp —————— #canadiandentists #wealthplanning #personalfinance Disclaimer: This information has been prepared by Brandt Butt who is an Investment Advisor/Portfolio Manager for iA Private Wealth Inc. Opinions expressed in this post are those of the Investment Advisor/ Associate Portfolio Manager only and do not necessarily reflect those of iA Private Wealth Inc. iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.

📚 Days 18-21/221: Fixed Income & CFA Prep 📊 Hello everyone, I've been delving into some topics in fixed income recently, particularly focusing on interest rate risk and return. Here's a summary of what I've covered: 🔍 Interest Rate Risk & Return: >>Unchanged YTM, both with bonds held to maturity and sold before maturity. >>Changed YTM, considering both holding to maturity and selling before maturity. >>Discussed the relationship between a bond’s holding period return, Macaulay duration, and investment horizon. >>Defined, calculated, and interpreted Macaulay's duration to enhance comprehension. While work and other commitments kept me busy, I'm now back on track! In addition, I've had the opportunity to connect with peers preparing for the CFA Level 1 exam in November 2024. We've discussed study plans and prep strategies, and here's a key insight: 📚 CFA Prep Insights: Many ask about study plans and prep strategies. While I'm happy to share insights, it's essential to customise your approach to fit your learning style and habits. When I started my CFA journey, I was confused too about how I should approach it and thought the same to ask who was prepping for the same or had cleared the exam but ultimately developed a strategy that worked best for me. Feel free to reach out if you're navigating the CFA journey—I'm here to offer support! #FixedIncome #CFAExamPrep #InvestmentAnalysis #StudyTips #FinanceCommunity 📈

In his book, "Simple Wealth, Inevitable Wealth," Nick Murray presents the compelling argument that, in the long term, the most rational definition of money boils down to its purchasing power. Murray emphasizes the undeniable reality that when your cost of living doubles but your income and assets stay the same, there is no other way to see it: you have effectively lost half of your money. Everything you own today only allows you to acquire half of what you could obtain in the past. He further contends that if we equate money with purchasing power, "risk" becomes anything that threatens this purchasing power, and "safety" is what preserves and enhances it over time. When examining the inflation-adjusted returns of stocks, bonds, and cash dating back to 1928, Murray's assertion gains credibility: Stocks: +6.5% Bonds: +1.5% Cash: +0.2% Clearly, these inflation-adjusted figures reveal that only equities provide a sufficient return to keep pace with inflation while simultaneously compounding your investments at a reasonable rate. Bonds and cash, on the other hand, preserve your capital but do little to augment your purchasing power. If the safety of your money hinges on preserving and enhancing your purchasing power over time, then stocks emerge as the ultimate safeguard, with the absence of stock ownership representing the riskiest proposition. Murray highlights a pivotal trade-off that investors must weigh when deciding whether to incorporate equities into their long-term investment strategy: Investors can opt to safeguard their money presently by holding cash and bonds, albeit at the risk of diminished purchasing power in the future. Alternatively, they can embrace the risk of equities today to bolster their purchasing power down the road. In Murray's words, "There is no such thing as a risk-free option. It all comes down to the choice of what to risk and when to do so." 🚀💰 #Investing #FinancialWisdom #PurchasingPower —————— I post for dentists and professionals three times weekly Tap the bell 🔔 on my profile and you'll be notified the second I post —————— #canadiandentists #wealthplanning #personalfinance Disclaimer: This information has been prepared by Brandt Butt who is an Investment Advisor/Associate Portfolio Manager for iA Private Wealth Inc. Opinions expressed in this post are those of the Investment Advisor/ Associate Portfolio Manager only and do not necessarily reflect those of iA Private Wealth Inc. iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.

There's a new discounted way to join our winning student team and pass your CFA® exams with confidence. Watch this video where Nathan Ronen, CFA explains all! https://lnkd.in/dTsJ8gBs #cfa #cfaexam #finance

IF YOU CONDIDER STARTING YOUR CFA STUDY NEXT YEAR, READ THE TEXT BELOW AND CHECK WHAT % OF IT YOU UNDERSTAND At the age of 26, a Nebraska stockbroker and school teacher named Warren Buffett took his “retirement fund” of $174,000 and decided to start his own investment business. Two decades later, he was a billionaire. Today, the “Oracle of Omaha” has a net worth of around $85B — making him the fourth wealthiest person in the United States after Jeff Bezos (another CEO known for his shareholder letters), Bill Gates, and Mark Zuckerberg. Berkshire Hathaway, Buffett’s firm, has the most expensive share price of any company in history, with each Class A share costing upwards of $330,000. Berkshire Hathaway’s fundamental strategy has been to identify valuable companies and then acquire increasingly large portions of them. Among its most valuable holdings are its stakes in juggernauts of the American economy like Coca-Cola (9.3% stake) and Apple (5.4%) — its most valuable stake, with a market value of more than $120B. Berkshire Hathaway also owns just under 19% of American Express, 11.9% of Bank of America, and 9.8% of US Bancorp. It has purchased controlling stakes in some 60 companies, including well-known brands like GEICO, Dairy Queen, and Fruit of the Loom. Berkshire Hathaway’s portfolio is also full of more obscure successes too, like See’s Candy, which Buffett calls his “dream business.” Buffett bought See’s Candy for $25M in 1972, and by 2019, it had brought in “well over” $2B — a nearly 8,000x return. Investors in Berkshire Hathaway have also done well. Since 1965, the price of Berkshire’s Class A stock has increased by more than 2,800,000%. That’s compared to a roughly 23,000% increase in the overall gain of the S&P 500 over the same period. It’s no wonder Buffett publishes an updated table of Berkshire’s per-share performance alongside the stock index at the beginning of each year’s shareholder letter, which has become an annual event in the world of business and finance. Here are some of the most accute quotes he made in those letters: “Price is what you pay, value is what you get.” (2008) “For investors as a whole, returns decrease as motion increases.” (2005) “Be fearful when others are greedy and greedy only when others are fearful.” (2004) “You only find out who is swimming naked when the tide goes out.” (2001) Nas próximas postagens, vou colocar algumas dessas lições em maior profundidade. O inglês que voce precisa para o CFA não é nenhum bicho de 7 cabeças. Mas se não estiver com ingles em dia, talvez precise dar uma turbinada nele antes. CFA Essentials é só com a FK Partners