Preparing for AM/IM
I am a econ major. Whats the fastest way to learn about the basics of financial analysis, valuation, modeling needed for a job in AM/IM? Would buying the CFA books and studying off that prepare me enough, or do i need to dig into some textbooks on valuation (i have heard about damodoran's stuff) / WallStreetPrep for modeling?
Not sure if thinking about the fastest way is the way to go. You're going to sacrifice proficiency. If you just want to pad your resume then ordering a few books from amazon should suffice. Damodoran is good but also look into Benninga. The books are about $70 and they will teach you about Excel modeling. If you want to be an analyst then I don't think CFA books will be enough (obviously no Excel material), plus the test covers a broad range of topics rather than preparing you for valuation and modeling. I'm on Level II and Level I just provides more of the basics imo.
I am an econ undergrad major and I found self-studying accounting quite challenging. A ~$400 investment on a more interactive teaching tool such as Wallstreetprep may be worth it. If you're really serious about it also consider enrolling at a CC/local public-college classes in accounting basics, financial valuation and modeling.
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