Has anyone taken the CMT? Any thoughts on difficulty, utility, etc? Thanks.
did you use the search function?
yes, has been discussed many times here
My go-to reply for this is that it can be useful for its content if you don’t know much about technical analysis, but it’s unlikely to make a big difference on a resume. As for difficulty, I’ve heard that it’s a lot of material, but not as intense as the CFA exam process.
I passed CMT L1 last year. Much easier than CFA exam, I got a 91%.
As far as utility, I agree with the phrase “if you want to get a job, get the CFA. If you want to keep you job, get the CMT”
One of the most important things technial analysis can teach you is reward:risk ratios. Keep that obnoxiously skewed in your favor at all times, and you have a high probability of portfolio success.
Also, there was a recent study comparing technical vs fundamental analysts who appeared on CNBC to declare a price target/buy point. The study clearly shows that fundamental analysts have no proven skill in picking stocks (0% return) vs technicians (+8% return) over the following year.
just my $.02, but clearly I’m a fan of the CMT program
Never heard that quote… did you just make it up?
And 1 year of “outperformance” isn’t really a large enough sample size to make any definitive conclusions… but of course you would learn that in CFA program, or high school stats… Lap.
No, I’m not smart enough to make up quotes. I believe I heard that from someone who is a CFA, CMT.
And I think you are confusing yourelf about sample size. 1 year of outperformance from a large number of technicians is enough to definitevely conclude that over a 1 year period, technicians will on average outperform fundamental analysts. That’s exactly what I said. I never said they would always be the best over any time period. But once more studies are done on longer time frames, I will provide you that proof as well.
#technicianforlife
i would love to Learn more about this study. Specifically, who conducted it, what was their sampling procedure, what was the test, and what was the data.
And I would love to see the same test re-run, but this time, with actual practitioners. You know, portfolio managers, fund managers, etc. not just talking heads.
Not true, but I wouldn’t expect a “technician” to understand.
And who falls into the other group of -8% return to net the outperformance to 0?
Here’s a URL to the study, take a look