I can’t take more than 30 minutes at a time without a 10 minute break. There is no purpose to memorizing GIPS for an exam. Its called reading the GIPS manual if you want to become GIPS compliant. End of rant.
Yeah, this is the worst.
I have spent soo much time with GIPS … that I now find it pretty interesting … wow I feel like a geek
Whats your guy’s thoughts on this section… think we can get by with just a brief summary in the SS?
Chadtap, I think we need to know this topic pretty well. There is a possibility that it could show up on an essay portion of the exam.
i think this is one of the sections you can nail… boring , but easy points if you study it… so i’m giving it a lot more attention than i would like.
Theyll test the GIPS for sure…think I remember seeing it last year…maybe someone else can verify… just hope they dont nitpick ya with lil details or numbers or something like that i would know it though cause it can be easy points if youre prepared
Bill.S.Preston,Esq Wrote: ------------------------------------------------------- > Theyll test the GIPS for sure…think I remember > seeing it last year…maybe someone else can > verify… > > just hope they dont nitpick ya with lil details or > numbers or something like that > > i would know it though cause it can be easy points > if youre prepared P 247 of the Secret Sauce sauce that you ‘will not have to identify standards by number.’
Just keep plugging away at it in 30 mins chunks. Try to understand the “why’s” behind the standards, rather than just rote memorization. Eventually you will get through it. Boring as hell, but easy points…
You will ABSOLUTELY not have to identify a standard by number. No freakin way.
I haven’t even looked at GIPS yet. Avoiding it like the plague.
At first I found GIPS very boring but then I realized it’s kind of useful to analyze if money managers have presented their performance fairly, completely and truthfuly. To assess money managers, GIPS is a good start point.
Going to have to review it again prior to exam day unfortunately. Another tricky part is to remember the required versus recommended items.
The disclosures are the worst part IMO. That and the all the dates. I made a spreadsheet with the chronology of the GIPS change dates: 2000 Presented Performance must meet GIPS requirements 2001 Monthly Valuation 2005 Trade Date Accounting 2005 Approx TWR / Weighted CF’s 2006 Consistant Beg. & End Annual Valuation Dates 2006 Country Version of GIPS (CVG) Reciprocity 2006 Calc Composite Ret. Using Qtr. Asset-weighted Rp 2006 Disclose use of Subadvisor / periods used 2006 Disclose Carve-out % for each period 2008 R.E. must be valued Quarterly 2010 CF Date Valuation / True TWR 2010 Value on Calendar ME / Last bus. Day 2010 Calc Composite Ret. Using Mo. Asset-weighted Rp 2010 Can’t Include Carve-Out unless separately mgd w/own Cash I may have missed something…
McLeod81 Wrote: ------------------------------------------------------- > > I made a spreadsheet with the chronology of the > GIPS change dates: > Why is this our life?
mwvt9 Wrote: ------------------------------------------------------- > McLeod81 Wrote: > -------------------------------------------------- > ----- > > > > I made a spreadsheet with the chronology of the > > GIPS change dates: > > > > Why is this our life? This is the path we’ve chosen… now we have to live with that choice.
McLeod81 Wrote: ------------------------------------------------------- > The disclosures are the worst part IMO. That and > the all the dates. > > I made a spreadsheet with the chronology of the > GIPS change dates: > > 2000 Presented Performance must meet GIPS > requirements > 2001 Monthly Valuation > 2005 Trade Date Accounting > 2005 Approx TWR / Weighted CF’s > 2006 Consistant Beg. & End Annual Valuation Dates > 2006 Country Version of GIPS (CVG) Reciprocity > 2006 Calc Composite Ret. Using Qtr. Asset-weighted > Rp > 2006 Disclose use of Subadvisor / periods used > 2006 Disclose Carve-out % for each period > 2008 R.E. must be valued Quarterly > 2010 CF Date Valuation / True TWR > 2010 Value on Calendar ME / Last bus. Day > 2010 Calc Composite Ret. Using Mo. Asset-weighted > Rp > 2010 Can’t Include Carve-Out unless separately mgd > w/own Cash > > I may have missed something… Damn, you make me start panicking.
mwvt9 Wrote: ------------------------------------------------------- > McLeod81 Wrote: > -------------------------------------------------- > ----- > > > > I made a spreadsheet with the chronology of the > > GIPS change dates: > > > > Why is this our life? > > >This is the path we’ve chosen… now we have to live with that choice. No we don’t. I could just stop. I mean I could…but I can’t. ; )
i think it is so neat that they make us learn that stuff. Its so useful in the real world, where you either: a. hire someone to do it, or b: if you have a job that requires it, you take an exam dedicated to just that. That makes knowing GIPS soooooooooo useful to me. (I just threw up in my mouth knowing that I have to read that soon. Its the only section I haven’t studied)
budfox427 Wrote: ------------------------------------------------------- > i think it is so neat that they make us learn that > stuff. Its so useful in the real world, where you > either: a. hire someone to do it, or b: if you > have a job that requires it, you take an exam > dedicated to just that. This could be said of most of the sections of the CFA exam 