CFA Credential Worthless?

Discussion in 'Professional Trading' started by Scataphagos, Aug 19, 2021.

  1. Saw a story recently suggesting such.

    Qualifying for CFA credential is no easy thing. Usually requires 1,000+ hours of preparation. The story suggests, "Thanks to the Fed's pumping money, the earning a CFA designation is a waste of time and money".

    I wonder if same applies to CMT??
     
    Last edited: Aug 19, 2021
  2. xandman

    xandman

    CFA was created when there were cookie cutter Analyst Training programs in Brokerage and Banking. Remember "Liar's Poker"?. Those programs are mostly gone now and the CFA is as over done as the MBA. But even without market value, I see no better path to rigorous learning.

    As for Chartered Market Technician, that is stuff you keep in the closet. Even Ralph Acampora jokes about it in interviews as being the weird guy in basement. I know enough not talk about Technicals when meeting Wall Streeters. Futures folks might be more receptive. Not equity professionals. What we hear on CNBC is what's digestible to the public. ie. low brow theoretical frameworks.

    It is all marketing and marketability. Use the right language for the right audience.
     
    Bastion_01 and longandshort like this.
  3. All of that said... Price TA works in ALL MARKETS... at ALL TIME FRAMES. How powerful is that? (I currently trade 1-minute ES charts the same as I traded daily charts years ago in my award-winning mutual fund timing program. NOTHING has changed in Price TA concepts over the years!!)

    I understand how bold/controversial of a statement that is. Nevertheless, true.
     
    Last edited: Aug 19, 2021
  4. xandman

    xandman

    I am not out argue religion. In fact, the 50d SMA buy came early. Not my strategy and I avoid the jealousy.


    upload_2021-8-19_11-48-24.png
     
  5. 2rosy

    2rosy

    cool. then it can be automated unless there is beauty in the eye of the chart holder
     
  6. Traders have asked me about that, but I think "not necessarily". A single concept can be automated, of course... like "crossing the 20day moving average"... but there are so many price correlations which can't be automated because you don't know where they will occur. IOW... you need a "starting point" for the data to begin the calculation. Price TA has them, but they begin at random prices... that is, "anyplace on the chart". I don't know how one could program for that. ??
     
    Last edited: Aug 19, 2021
  7. NOT a 50-day buy. Might occur tomorrow. And yes, there is "turn early"... but it's a guess.
     
  8. xandman

    xandman

    Turned after you said that. Kudos.
     
  9. JSOP

    JSOP

    The CFA designation is still a must-have if you want to become a portfolio manager for a fund, basically managing other people's money for those banks and institutions. If you look at any bios, credentials or introductions of any portfolio managers of any mutual funds, you will see that about 99% of them would have the words "CFA" among the string of acronyms of designations and titles after their name. So it's not that worthless. And don't forget the king of meme stocks, Keith Gill aka Roaring Kitty is also a CFA designation holder. :sneaky:

    CMT is different. It's something that you just acquire for yourself. It's not something that is required for you to show others like the CFA designation.

    But honestly as long as you know how to trade and can make $$, you don't need any designations or titles or credentials really, the CFA one or CMT.