Which topic you think is the most difficult topic in Level III exam?

CFA Level III Portfolio Management
#1

Have your say

#2

Derivatives and fixed income as usual for me… think the material is easier than level 2 though! Not as much depth

#3

For me:

Love: Derivatives, Fixed Income, Performance and Trading.

Neutral: Individuals/Institutions, Economics, Asset Allocation

Hate: Equity, Behavorial

#4

Derivatives, Risk for sure.

#5

To all derivatives haters,

I was a ater of derivatives myself over the last two levels. However, if you give it a chance this time, I assure you that you won’t be disappointed. Barring interest rate options, derivatives is very doable and not as big a problem as it was in LII.

Equity is something that’s really dry in LIII and a little too quantitative. So I’m gonna second 125mph on equities.

#6

I have always hated derivatives, but L3 derivatives seems manageable.

But getting back to the question. Most difficult is behavioural finance and individual IPS. I mean, they are interesting topics, but for me its really difficult to locate the answer that CFA is looking for.

#7

Derivatives is the ONLY topic where I don’t have problems. It’s practically a recap of L2.

Equities and behavioral suck. (GIPS I haven’t started yet, but I already wanted to pull my hair out with the new section of Ethics, the asset manager code of conduct).

#8

asset allocation policy and model are fine, but Currency is killing me…

#9

I agree that derivatives are easier than they used to be…practically a recap. I am surprised with people hating on equities, I thought they were one of the easier topic (easier than fixed income).

To me behavioral finance is very dry and thus the hardest. Prior to reading stuff I was really excited about this book but now I think it is disappointingly boring.

There is not much depth in L3 and thus it seems easier. The difficulty lies in the essay questions but with consistent studying it is manageable (I hope)

#10

still in fixed income