It’s not even January yet and the last thing many of you want to think about is studying for the CFA exams in June. I always liked to start early and set a relaxed study schedule but I’m not going to tell you that you need to get busy studying immediately.
What I can tell you is that there is a way you can actually keep your skills fresh while waiting for later to really start studying. It’s a little thing I like to call stealth studying and everyone should work it into their daily routine.
CFA Institute Resources
Your first stop will be some of the great resources on the CFA Institute website and the Enterprising Investor blog. The Institute’s Publications & Multimedia page sports a seemingly infinite amount of research and resources. Resources are indexed by asset class and topic area with separate sections for career advice like networking, management and current topics. A lot of the resources are quick presentation-type material so you can look through it within a few minutes to get the general idea. It’s a great way to generate ideas for your own work.
Must Read Books
The Enterprising Investor blog also offers regular reviews for books related to the industry. Within the reviews, you’ll find a mix of educational books to further your skills and books that will entertain. I just finished Alan Blinder’s, “After the Music Stopped,” after reading the review on the site and really enjoyed the insightful analysis of the financial crisis.
Of course, Graham’s timeless book, “The Intelligent Investor,” is always a good start for those that haven’t yet read it. After months of detailed and rigorous study of the CFA curriculum, it’s nice to sit down with a relatively straight-forward and simple tome.
Networking with colleagues
Readers of the blog will know that I’m a big advocate of active involvement in your local CFA society. Most likely, you are going to want to approach these people for a job opportunity in the future so it’s best to get to know them first. Networking with other candidates and charterholders serves another function, getting some of the best insight from some of the best minds in the business.
So stealth studying isn’t really anything new, it’s just keeping involved in your industry. Reading books, whether for information or entertainment, watching presentations from other professionals and connecting with others in the field will all help to keep your mind sharp.
Whether you are working in investment analysis and management yet or not, it’s best to start thinking of yourself as a professional. You’ve committed to one of the most difficult professional designations out there and just the Level I CFA curriculum puts you well on your way. As a professional, it’s also best to stop thinking in terms of a period to study for the exams and the rest of the year in which you get to relax. Being a professional is about constant improvement and keeping up to date with the industry.
The resources above will not only help you prepare for your next CFA exam but will help you become a better professional.
‘til next time, happy…studying?
Joseph Hogue, CFA