The statement “Their paticipation in the CFA examination program has enhanced their investment management skills”. The sample exam treats this statement correct. But can we claim this?
That’s a thin line. I think it’s fair to say that you “learned” something but you can’t let it imply that you can beat the market or something like that because you passed the CFA exams.
I wouldn’t.
(But, then again, I don’t know very much.)
It’s an acceptable statement. You are not allowed to imply that you as a CFA charterholder or candidate you will get superior performance.
You’re definitely allowed to say that the CFA has made you smarter than you were before.
Superior skills do not mean superior performance? Is CFAI trying to tell us to quit studying and get lucky?
Although it sounds like an ethics violation, I think its fine for a couple reasons:
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It only says that it enhanced their skills. Taking any educational/professional program should.
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It doesn’t bring up anything about anybody else other than them, and their skills. As such, I don’t think there is an implication of garnering greater returns than the next guy.
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Same as the guy above. Even if you have better skills comparatively, it doesn’t necessarily mean it translates to better performance.
It also enhanced my blood pressure. Thats probably ok too.
I think you cannot claim superior skills with regards to other money managers, but you can claim reagrding your own past skills. I could also claim that reading analystforum has improved my invesment skills. You never know when those darned skills can improve.
I think the statement is perfectly fine.
There is this statement in Schweser that makes in more grey if you continue by including the following statements:
“With those skills, we are confident of generating better performance for your portfolio (or better performance compare to your previous manager)”
The statement above sort of creep into the region of violation in assuming greater performance based on obtaining the CFA charter or being a candidate.