CFA in the value investment space
Working on the buy-side in equities and striving towards a LT, value-focused investment approach. Investing and the long way to becoming an investor consists of various skills. I want to take my analytical knowledge further, in particular my accounting and "reading annual reports" skillset. Do have finance experience, but still think can do better.
Is a CFA the right way to do so or does it mainly contain theories and formulas which Mr Klarman and Co are not using anyway?
It's a broad curriculum programme. Some of the stuff will be completely useless for you, but other modules will be very relevant. The programme is "generic" in nature, so it's hard to categorize that it's more useful for GARP, growth, value or opportunistic equity investors or anything like that. It provides a certain foundation to conduct a range of different types of analysis, which is used by all sorts of investors. In effect, the core technical skills don't differ between different fundamental investors, it's the principles that they follow and the focus points that differ.
However, if you want to get better at value investing, it's probably not the best use of your time. It would be much better to try and apply the principles that the people you admire apply when investing. CFA gives some tools to work with, but ultimately it's a learning by doing business as you know.
thanks - are you in the value investing space and or do you have a CFA?
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